Logistics Dev Regulatory News (LDG)

12 Jun 2006 07:01

Legacy Distribution Group Inc12 June 2006 Legacy Distribution Group Inc. Board changes Legacy Distribution Group Inc. ("Legacy" or "the Company") (AIM: LDG), one ofArizona's leading groceries wholesalers and distributors, announces that it hasstrengthened its board of directors through the appointments of Fred Gretsch asChief Financial Officer and Tim Riedel, the current Chief Marketing Officer,respectively. Both appointments are effective immediately. Mike Drexler has stepped down from his position as Finance Director of theCompany with immediate effect. Frederick Bruch Gretsch, Senior, aged 60, has extensive experience indistribution, manufacturing and banking, having been in senior positions atseveral companies including Southwest Storage & Distribution Company L.L.P.,General Dynamics Corporation and Citicorp/Citibank. His expertise also coversfinancial and SEC reporting, treasury, banking, and shareholder and investorrelations. He has his MBA from Columbia Graduate School of Business in New YorkCity and a degree in Economics from Georgetown University in Washington, DC. Timothy Dean Riedel, aged 46, who joined the Company in July 2004, is amarketing and business management professional with over twenty three years ofexperience in consumer marketing. He has proven his ability to grow existingbusinesses through innovative marketing, superior sales management and customerservice/quality assurance improvements. Formerly, Tim was responsible for allnew product development and marketing for a significant division of Nestle FoodsUSA and previously he held positions in the marketing departments at GeneralFoods and RJR Foods (both now part of Kraft Foods). Tim has his MBA fromMichigan State University and an undergraduate degree in Finance from VirginiaTech. Michael Mills, Chairman of Legacy, commented: "The past year has been anexciting time for Legacy, during which we have seen the Company transformitself. We have very clear ambitions to grow both organically and byacquisition in the coming years and the Board appointments of Fred and Tim playan important part in those plans. They provide us with extensive skills andexpertise in their respective fields which will be invaluable as we take theCompany forward." Fred GretschCurrent Directorships / PartnershipsTatum, LLCF.B. GRETSCH, INC. Past Directorships / PartnershipsNone Tim Riedel Current Directorships / PartnershipsRDM Food & Beverage, LLCBFT, LLCDaredeveil Shells, LLCWhite Hat Food & Beverage, LLCCandlewood Shells, LLCRiedel Marketing Group, LLC Past Directorships / PartnershipsNone On 4 June 1999 Tim Riedel was involved in court proceedings resulting from hisinvolvement in the sale of Paradise Groves LLC. On 1 December 2001 the SuperiorCourt of Arizona ruled in favour of the Plaintiffs, including Tim Riedel on anumber of complaints. The judgement was deemed uncollectible in January 2002.Paradise Groves was put into bankruptcy in January 2002. Further to the above, subsequently Tim Riedel was adjudged bankrupt in October2004 by the US Bankruptcy Court in Arizona owing to the expenses associated withpursuit of the above suit and collection efforts. There are no further disclosures required to be made in respect of Mr Gretsch orMr Riedel with regard to paragraph (g) of Schedule 2 of the AIM Rules. For further information: Legacy Distribution Group Inc.Frank Patton, CEO 00 1 602 344 6750 Corporate Synergy PlcOliver Cairns / Romil Patel 00 44 207 448 4400 Tavistock Communications LimitedRichard Sunderland/Rachel Drysdale 00 44 207 920 3150 This information is provided by RNS The company news service from the London Stock Exchange