Multi-Color's President And CEO Sets Retirement Date
BATAVIA, Ohio, May 11 /PRNewswire-FirstCall/ -- Multi-Color Corporation (Nasdaq: LABL) announced today that its President and CEO, Frank Gerace, plans to retire effective June 15, 2010.
Gerace, age 57, has served as President and as a Director since May 1999 and was elected Chief Executive Officer in August 1999. Prior to that time, Mr. Gerace served as the Company's Vice President of Operations from April 1998 to May 1999.
"I have had the extraordinary privilege to lead this Company for 12 years," stated Mr. Gerace. "Multi-Color's success over these years is due to the wonderful associates who have trusted and supported me. I am forever grateful to them and wish them well in the future. I am looking forward to spending time with family and pursuing other personal interests."
"The Company would like to express its sincere appreciation to Frank for his strong leadership at a critical time in the Company's history. Under Frank's leadership, the Company has grown from a domestic Company with sales in 1999 of $50 million to an international Company with sales of approximately $275 million," stated Multi-Color's Chairman of the Board, Larry Kellar.Nigel Vinecombe, Multi-Color's current Chief Operating Officer, will succeed Mr. Gerace, effective June 16, 2010. Mr. Vinecombe, 46, became Chief Operating Officer in May 2009 and was President of the International Business Unit, and became a Director of Multi-Color on February 29, 2008, at the time the Company acquired Collotype International Holdings Pty Ltd. From 2000 to February 29, 2008, he served as Group Managing Director of Collotype. "We are confident that Nigel has the background, knowledge and industry experience to effectively lead the Company into the future," stated Mr. Kellar.
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