SAN FRANCISCO, Sept. 30 /PRNewswire/ -- The Good Guys! (Nasdaq: GGUY), a
leading specialty retailer of consumer entertainment electronics, today
announced that Joseph P. Clayton and Joseph M. Schell have been elected to the
board of directors, increasing the size of the board to nine.
"The addition of two of the most respected men in the consumer electronics
and investment banking worlds will add depth and breadth to our already
outstanding board of directors," said Ronald A. Unkefer, founder, chairman and
chief executive officer of The Good Guys!. "The combination of consumer
electronics and financial expertise they bring to the board will provide
valuable guidance as the company continues to implement its new business,
market and financial strategies. These appointments reaffirm the position of
The Good Guys! as a premier provider of consumer entertainment electronics
brands and related services."
Clayton has more than 24 years of experience in the consumer electronics
industry and is chief executive officer of Frontier Corporation and vice
chairman of Global Crossing, following its recent merger with Frontier. Prior
to joining Frontier, Clayton led Thomson Consumer Electronics as executive
vice president of marketing and sales for the Americas and Asia. During his
20-year tenure with Thomson/RCA/GE, he was responsible for product
development, sales and distribution of RCA, ProScan and GE brands of consumer
electronics, including the successful introduction of the RCA DSS satellite
dish service.
Schell is the former senior managing director, director of investment
banking and executive committee member of NationsBanc Montgomery Securities.
Since joining the firm in 1985, he directed the growth of the firm's
investment banking division from 17 professionals and $22 million in revenues
to more than 300 professionals and revenues exceeding $470 million in 1998.
Prior to joining NationsBanc Montgomery Securities, Schell was with Kidder,
Peabody & Co., providing investment banking services to utility and energy
clients. Schell retired from NationsBanc Montgomery Securities in June 1999.
The Good Guys! also announced that Vance Schram has been promoted to vice
president of finance and that Jonathan Wylie has been named vice president of
advertising.
Schram returned to The Good Guys! as controller in 1997 after serving as
assistant controller and controller from 1990-1994. From 1994-1997, Schram
was chief financial officer, secretary and a board member of Stone Bridge
Cellars. Schram earned a bachelor's degree in economics from the University
of California at Berkeley and an MBA in finance from California State
University at Hayward.
Wylie joins The Good Guys! from Lucky Stores, where he was vice president
of advertising. During his tenure at Lucky Stores, Wylie was responsible for
advertising, relationship marketing, promotions and market research.
Previously, he worked at the Chicago advertising firm of Campbell-Mithun-Esty,
where he managed account activity for the agency's largest client, The Kroger
Co. Wylie earned a bachelor's degree in marketing from Michigan State
University and an MBA in marketing from Columbia University.
"The appointments of Vance and Jonathan give added depth and experience to
our officer group," said Unkefer. "Both are outstanding leaders with proven
track records of getting results, and we are confident that they will make
significant contributions toward the financial performance and repositioning
of the company."
"I couldn't be more pleased at the caliber of directors and officers that
the company has attracted over the past 90 days," continued Unkefer. "I am
personally confident that the company will be solidly in the black during
fiscal 2000, which begins October 1."
The Good Guys! is a leading specialty retailer of consumer entertainment
electronics, operating a total of 79 stores in California, Washington, Oregon
and Nevada, and marketing a broad range of high quality, name brand products.
For more information on The Good Guys!, including news releases, product
information and store locations, visit http://www.thegoodguys.com.
To the extent this news release contains forward-looking statements, such
statements are subject to risks and uncertainties, including, but not limited
to the Company's current restructuring program, increases in promotional
activities of competitors, changes in consumer buying attitudes, the presence
or absence of new products or product features in the Company's merchandise
categories, changes in vendor support for advertising and promotional
programs, changes in the Company's merchandise sales mix, and economic
conditions.
SOURCE The Good Guys!
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Related links:
http://www.thegoodguys.com
Company News On-Call:
http://www.prnewswire.com/comp/108403.html or fax,
800-758-5804, ext. 108403
CONTACT:
Kristen Malacarne of The Good Guys!,
214-665-1335, or Pager, 888-613-2159
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