New Directors Thomas Madden and David Weiss Add International,
Homebuilding and Further Financial Expertise
AUBURN HILLS, Mich., March 9 /PRNewswire-FirstCall/ -- Champion
Enterprises, Inc. (NYSE: CHB), a leader in factory-built construction,
announced that it has added two new directors to its board, Thomas A. Madden
and David S. Weiss. In addition, it has elected William C. Griffiths,
Champion's president and chief executive officer, to the additional position
of chairman of the board. In connection with this change Selwyn Isakow, the
Company's previous non-executive chairman, will now serve as Lead Independent
Director. Champion noted that it intends to add one more non-executive
director to its board sometime in 2006.
Griffiths joined Champion Enterprises in August of 2004 as president and
CEO. "Bill has led the Company through a major turnaround, transforming it
into the largest modular homebuilder in the United States. Griffiths has
guided the Company's return to profitability, closed or sold unprofitable
operations, and developed a successful long-term strategy for future growth,"
said Selwyn Isakow.
The appointment of Messrs. Madden and Weiss adds further financial
experience to the Board, as each has held chief financial officer positions at
multi-billion dollar companies. In addition, the international experience of
Mr. Madden and the homebuilding experience of Mr. Weiss will be valuable in
the execution of Champion's growth strategy.
Madden is the retired executive vice president and chief financial officer
of Ingram Micro Inc., the world's largest technology distributor. As CFO,
Madden directed Ingram Micro's global financial operations, supervising the
company's treasury, finance and accounting departments as well as serving in
the Office of the Chairman to help determine corporate policies, strategies
and growth initiatives. He currently serves on the board of directors of
Mindspeed Technologies, Freightcar America and City of Hope cancer institute.
Madden has been named to Champion's Audit and Financial Resources Committee.
Weiss worked in the homebuilding industry for a decade, beginning first in
1993 with Hanson Industries, and then Beazer Homes after its spin-off by
Hanson. Weiss was executive vice president and chief financial officer of
Beazer, one of the largest single-family homebuilders in the nation currently
with $5 billion in revenues. He was a key contributor to Beazer's successful
initial public offering and later developed its "Value Created" system for
financial performance evaluation that is still used today. Weiss will sit on
Champion's Compensation and Human Resources Committee.
"I would like to thank Selwyn for his service as Board Chairman and I look
forward to working with him closely in the future," said William Griffiths,
chairman, president and CEO of Champion Enterprises, Inc. "I also want to
welcome Tom and Dave, who will be valuable additions to the board."
About Champion
Champion Enterprises, headquartered in Auburn Hills, Mich., a leader in
factory-built construction, has produced more than 1.6 million homes through
its family of homebuilders since 1953. Today, Champion operates 32
manufacturing facilities in North America and partners with nearly 3,000
independent retailers, builders and developers. For more information, please
visit http://www.championhomes.net .
SOURCE Champion Enterprises, Inc.
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Related links:
http://www.championhomes.net
Company News On-Call:
http://www.prnewswire.com/comp/110861.html
CONTACT:
Investor Contact: Lisa D. Lettieri, Vice
President of Investor Relations of Champion Enterprises,
+1-248-340-7731, llettieri@championhomes.net ; Media Contacts:
Tim Hanson or Paul Kesman of Identity Investor Relations,
+1-248-258-2333, chb@identitypr.com
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