Following the creation of Sport Brands International (SBI) in June of this year, and the purchase of Fila Worldwide, Inc., Jon Epstein, 48, is leaving the company effective December 1, 2003. Mr. Epstein cited personal reasons for his decision.
Mr. Epstein joined Fila, USA Inc. as President in 1998 leading that company's turnaround. In June 2003, Mr. Epstein assumed the role of CEO of SBI launching a global restructuring of the Fila brand and its operations. In November of this year, Mr. Epstein led the successful sale of Enyce LLC, a company for which he was also responsible since 1998.
The Company stated that the remaining members of its senior management group remain dedicated to leading the restructuring of Fila, which has been proceeding successfully since its acquisition by SBI. The Company expects to retain another executive to replace the loss of Mr. Epstein. In addition, the Company announced that Robert Galvin, the Company's Chief Financial Officer and President of European Operations, has been named to the additional position of Chief Operating Officer for the global business. American, Asian and European Operations will report to Mr. Galvin.
The Company also expressed its deep appreciation for the extraordinary contribution made by Mr. Epstein, and wishes him well.
