Escalade, Incorporated announced that Mr. Terry Frandsen has been promoted to Chief Financial Officer and Treasurer replacing Mr. John Wilson who is retiring to spend more time with his family.
Mr. Frandsen joined Escalade in October 2002 as Vice President of Finance, a title he will retain. He brings more than twenty years of financial and business experience to his new position; experience gained from medium and large multinational companies and as an audit manager in a multinational public accounting firm. His knowledge of SEC reporting, international income tax, information systems, and business operations will greatly assist Escalade as it continues a path of rapid growth. During his brief tenure, Mr. Frandsen has been heavily involved in the Company's recent acquisitions and has worked closely with Mr. Wilson to plan for a smooth transition.
Mr. Wilson joined Escalade's finance department in 1973, was promoted to Controller and Secretary/Treasurer in 1976, and then elected to the position of Vice President Finance and Chief Financial Officer in 1994. Mr. Wilson will continue as the corporate secretary, until year-end to further insure a seamless transition.
Bill Reed, President and CEO commented that “John has been an important part of Escalade's growth and success, and we wish him well in his plans to spend more time with his family and travel. I have confidence that Terry will continue Escalade's tradition of timely financial reporting, while maintaining the fiscal responsibility and integrity we have become known for.”
