Li & Fung promotes Jack Toolan as EVP for newly formed Home Brands Group

20 May '05

2 min read

world's leading consumer goods sourcing company li & fung usa, a subsidiary of hong kong-based premier global sourcing group li & fung trading ltd, today announced it has created two executive management teams to support the growth objectives of its global brand initiatives. the company has formed the home brands group and the apparel brands group.

jack toolan has been promoted to executive vice president to spearhead the newly formed home brands group, which currently includes licenses for royal velvet, and cannon and cannon royal family brands.

robert crocco has been promoted to executive vice president and will lead the apparel brands group, which includes the licenses for levi'so red tabo and levi'so signature? brands.

additionally, ron ventricelli has been promoted to executive vice president of operations and will be responsible for finance, customer service and all operating issues that relate to the global brands business group. all three will report to rick darling, president of li & fung usa's global brand business group.

"jack and bob bring tremendous industry expertise that will be invaluable in launching and nurturing our brands, both in the home and apparel businesses," stated rick darling. "by creating this new management structure, we are in a better position to pursue our goal of adding great consumer brands. additionally, with ron's experience in finance and operations, we will be able to execute and operate a more efficient back-end process." mr. darling concluded, "i am looking forward to working with all of them to build our portfolio."

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