HUFFY has announced that Paul R. D'Aloia, 45, has been elected by the Board of Directors to serve as Chief Executive Officer of the Company. D'Aloia's appointment to the Chief Executive Officer role is effective immediately.
Don R. Graber, who has served as Chief Executive Officer of Huffy Corporation since December 1997, will be retiring effective January 31, 2004, but will continue to serve as a non-employee Chairman of the Board of Directors through 2004.
Commenting on the transition, Don Graber stated, “This completes a succession process that began more than a year ago. Since joining Huffy Corporation in 1997, Paul has served as President of Huffy Sports Company, President of Huffy Service Solutions, President of Huffy Bicycle Company, and President of the Huffy Sports Group, bringing operational excellence to each of these business units. Paul was elected Chief Operating Officer in August of 2003. His experience in leading product and service companies has provided Paul with invaluable insight into all aspects of the Corporation. I have worked closely with Paul over the past ten years and have watched Paul grow as a business leader. He will make an excellent Chief Executive Officer.”
Graber continued, “On a more personal note, while planning to remain active in a variety of business and community activities, at age sixty, I look forward to the less hectic pace of retirement. Nonetheless, I will miss the daily interaction with all of those with whom I have developed strong ties over the past seven plus years.”
Paul D'Aloia commented, “Don Graber has had an enormous impact on Huffy Corporation. His leadership has been instrumental in moving Huffy toward its vision of becoming a diversified branded sporting goods and retail services company. I speak for all of management and the Board of Directors in saying that we thank Don for his contributions to the Company. We are pleased that Don will remain on the Board and that we will have the opportunity to seek his counsel throughout the coming year. I am flattered by the confidence that the Board has shown in naming me to the CEO role, and can assure you that the management team and I remain dedicated to fulfilling our strategic vision of creating value for our shareholders and evolving to being a larger entity serving the retail and sporting goods channels.”