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Footwear developer R.G. Barry's shareholder elects three Directors

21 May '05

3 min read

World's leading comfort footwear developers and marketers r.g. barry corporation's shareholders named three directors to the slipper marketer's board and approved a long-term incentive plan today during the company's annual meeting held at its suburban columbus, ohio, headquarters.

"Stock option plan adopted during slipper marketer's annual meeting"

R.G. Barry corporation president and chief executive officer thomas m. von lehman reaffirmed for shareholders attending the meeting that the company expects to return to profitability for the full year in 2005, ending three consecutive years of sizeable losses. he reiterated, however, that because of the highly seasonal nature of the company's business, it is likely to report a loss for the first half.

“They feel very proud of our 2004 accomplishments. already in 2005, we have been able to experience the benefits of these changes and make significant additional progress. but, we know that the economic and competitive environment we face is tougher than ever. much more needs to be done to ensure the sustainability of our progress, and we feel very confident about our ability to meet these challenges. we believe that a bright future lies ahead for our company,” he said.

Mr. Von Lehman, 55, was elected to a three-year term as a director during friday's meeting. he fills a seat vacated by christian galvis, whose term on the board expired at the meeting. mr. galvis, 64, retired as the company's executive vice president of operations in september 2004.

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