California based leading golf wear maker Ashworth Inc announced that the Board of Directors appointed a new outside Director to the Company's Board effective January 1, 2006.
The Company's Board approved the appointment of Detlef Adler to serve as Director effective January 1, 2006. Adler will stand for election at the Company's Annual Meeting of Stockholders scheduled for March 2006.
The Company's Corporate Governance and Nominating Committee is in the process of searching for two or three directors who possess the desired skill sets designed to enhance the diversity of experience on the Company's Board of Directors. Adler brings to the Board several of these desired skill sets. First, Adler has extensive supply chain related experience.
Second, he is the CEO of Seidensticker Group ("Seidensticker"), an international apparel company domiciled in Germany, and third, he represents Seidensticker, which is a beneficial shareholder of approximately 5.4 percent of the Company's outstanding common stock at October 31, 2005.
Adler, 47, is CEO of Seidensticker, which is a supplier of woven shirts to Ashworth as well as a major shareholder. Adler has been with Seidensticker since 1994 and served as the CFO from 1994 to 1996 when he was named the CEO.
From 1989 to 1994, he served as the Director of Finance for Goldwell AG, which at the time was a subsidiary of Kao Corp. Japan. He was responsible for the finance-related function of all international subsidiaries for Goldwell.
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