The Stride Rite Corporation announced that, following its 2006 annual meeting of shareholders, it will appoint Edward L. Larsen to the Company's Board of Directors. He will also serve as the Chairman of the Audit Committee and qualifies as the “audit committee financial expert” under SEC rules and related NYSE rules.
Mr. Larsen will bring extensive public company retail experience to Stride Rite's Board. Since 1991, he has been Senior Vice President, Chief Financial Officer and Treasurer of Talbots Inc., a $1.8 billion specialty retailer and cataloger of apparel and accessories with over 1,000 stores. He was Vice President and Chief Financial Officer of Lillian Vernon Corporation from 1989 to 1991, and from 1977 to 1988 had held various positions with General Mills, Inc., including Vice President and Group Controller of the Specialty Retailing Group.
“We are delighted that Ed Larsen has agreed to serve on our Board of Directors. With his broad retail background, financial expertise and strategic insights, Ed will be a superb addition to our Board,” said David Chamberlain, Chairman and CEO of Stride Rite.
Immediately following Stride Rite's 2006 annual meeting of shareholders on April 6, the Board of Directors will appoint Mr. Larsen as a Class III director to serve until the 2008 annual meeting of shareholders.
Mr. Larsen will fill the vacancy created by the resignation of current Audit Committee Chairman Bruce Van Saun, who as previously announced will leave the Board at the time of the 2006 annual meeting due to other business obligations.
