While we have enjoyed great success over the past 20 years building ourselves to be a leading wholesaler and retailer in our industry, I am truly excited that these changes will go a long way to ensuring our continued growth and success in the years ahead."About Party City Party City Holdco Inc. (the "Company" or "Party City Holdco") is the leading party goods company by revenue in North America and, we believe, the largest vertically integrated supplier of decorated party goods globally by revenue. The Company is a popular one-stop shopping destination for party supplies, balloons, and costumes. In addition to being a great retail brand, the Company is a global, world-class organization that combines state-of-the-art manufacturing and sourcing operations, and sophisticated wholesale operations complemented by a multi-channel retailing strategy and e-commerce retail operations. The Company is the leading player in its category, vertically integrated and unique in its breadth and depth. Party City Holdco designs, manufactures, sources and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery throughout the world. The Company's retail operations include over 900 specialty retail party supply stores (including approximately 180 franchise stores) throughout North America operating under the names Party City and Halloween City, and e-commerce websites, principally through the domain name PartyCity.com.
Party City Holdco Inc. ("PCHI" or the "Company") (NYSE:PRTY), today announced two organizational changes effective October 31, 2016. First, we are pleased to announce Mr. Ryan Vero has joined the Company as Executive Vice President of PCHI and President of Party City Retail Group. Mr. Vero recently served as President, Grocery and Drugstore at Sears Holdings. Prior to joining Sears, Ryan spent 18 years at OfficeMax, most recently serving as its EVP, Chief Merchandising and Marketing Officer. In his new leadership role with the Company, Mr. Vero will be assuming full responsibility for all of our North American retail operations, including brick and mortar stores and e-commerce. Next, Gregg Melnick, President of PCHI, will be taking on new leadership responsibilities in several areas of our global business. Specifically, Mr. Melnick will assume overall responsibility to formulate, establish and execute our long-term global strategy in the areas of Information Technology and Global Supply and Logistics. These efforts will be designed to work across the many business units that comprise our unique, vertical model assuring that we have the best possible systems and processes for our business. In addition, he will also assume responsibility for our international Wholesale and non-North American retail operations, focusing on the development and execution of our long-term growth strategy and furthering the Amscan business across key international markets. Commenting on these organizational changes, Mr. James M. Harrison, CEO, stated, "First, I would like to welcome Ryan to our team. Ryan comes to Party City with broad retail leadership experience and an impressive resume of accomplishments over a 22-year career in retail that will add significant value to our organization. With respect to Gregg's new responsibilities, I would like to emphasize that much of our future growth is tied to the ultimate success of our international efforts, and the addition of Gregg's leadership and knowledge of the party industry will be a huge asset in maximizing this opportunity.