Mr. White is departing to pursue entrepreneurial interests, but has agreed to consult with Phoenix Footwear during a leadership transition period.
Jim Riedman, Chairman, will assume the additional duties of CEO. The board intends to initiate a search for a new CEO in the months ahead.
Commenting on the first quarter, James Riedman, Phoenix Footwear's Chairman, said, "We are pleased to see the momentum we built in the last half of 2005 continuing into 2006 with strong sales and earnings.
During the first quarter, we continued to improve Phoenix Footwear's market position by expanding distribution, further investing in our brands and improving sell-throughs across the majority of our brands.
We focused on operating efficiencies and optimization of our manufacturing and sourcing capabilities, which resulted in improved margins and profitability.
Additionally, to support our future growth, we made some important hires, including Prasad Reddy as Executive Vice President of Sourcing and Krista Treide as President of the Tommy Bahama Footwear division."
Phoenix Footwear Group Inc, headquartered in Carlsbad, California, designs, develops and markets a diversified selection of men's and women's dress and casual footwear, belts, personal items, outdoor sportswear and travel apparel.
The Company's moderate-to-premium priced brands include Royal Robbinsapparel, the Tommy Bahama, Trotters, SoftWalk, Strol, H.S. Trask, and Altama footwear lines, and Chambers Belts.
Phoenix Footwear Group Inc
marketing@alchempro.com
