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| Mr Charles Lesser joins Panglobal as CFO | | May 19, 2008 (USA) |  |
Panglobal Brands Inc has appointed Charles Lesser as Chief Financial Officer. From September 2003 to September, 2007, Charles Lesser was the Chief Financial Officer and a consultant to True Religion Apparel Inc and its wholly-owned subsidiary, Guru Denim Inc.
While at True Religion Apparel Inc, he helped grow the premium jeans manufacturer from a start-up venture to $140 million in sales revenue and a $500 million market capitalization.
Mr. Lesser was CFO for True Religion from its initial merger with a public shell company through to a NASDAQ national market listing. He assisted True Religion to establish an independent board of directors and implement required corporate governance standards.
By the time he left True Religion, Mr. Lesser had created an investor relations program, organized extensive road shows, both in the U.S. and in Europe, and presented at investor conferences resulting in over one hundred institutional shareholders and a series of Wall Street firm’s analysts providing research coverage on the company.
Prior to True Religion Apparel, Mr. Lesser was Acting President and a Director of Alpha Virtual Inc., a software development company listed on the OTCBB and Chief Financial Officer and a Director of CBCom, Inc., an internet service provider listed on the OTCBB.
Mr. Lesser noted, “I have been at PNGB for six months and believe that our strategy of having a series of diversified apparel brands is beginning to create revenue opportunities for us within each of our product lines. Initially, our brands consist mainly of women’s apparel, but we have expertise to be able to grow into men’s and kid’s apparel.”
“Charles has terrific experience helping True Religion Apparel grow from a start-up apparel venture into a highly-successful Nasdaq company. We are excited to have him as a part of our management team at Panglobal Brands, Inc.”, said Stephen Soller, Chief Executive Officer. | | | | Panglobal Brands Inc |  |
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