Escalade, Inc. said it has accepted the resignation of Terry D. Frandsen
as vice president and chief financial officer. Robert J. Keller,
Escalade's president and chief executive officer, said that the company and Frandsen had reached a mutual decision for Frandsen to leave
Escalade. Frandsen's resignation does not impact or in any way relate
to the financial statements or reporting of Escalade or its subsidiaries.
Effective immediately, Escalade has engaged Thomas Brosig to serve in the
role of Escalade's chief financial officer on an interim basis. Brosig
has been providing operational consulting services to Escalade since
December 2008 and has significant chief financial and operating officer
experience.
Keller, commenting on the management change, said “We thank Terry for
his service over the last six years. Terry has made many contributions to
Escalade, and we wish him the best in the future.”
Keller continued,
“We anticipate that the Company's process for evaluating the company's
needs and potential CFO candidates will be thorough, efficient and prompt.
We do not anticipate any significant disruption in the Company's business
or financial operations during this transition period.”
