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|Standex Appoints Thomas E. Chorman to Its Board of Directors|
SALEM, N.H.--(BUSINESS WIRE)--June 4, 2004-- New Independent Director Has Broad Operational and Financial Experience in the Industrial and Consumer Products Industries
Standex International Corporation (NYSE:SXI) announced today that Thomas E. Chorman, 49, has been appointed to the Board of Directors effective immediately. Chorman is President and Chief Executive Officer of Linwood, Pennsylvania-based Foamex International, Inc. (NASDAQ: FMXI), the world's leading producer of comfort cushioning for the furnishings and automotive markets. He will stand for election to a three-year term to be voted on by stockholders at Standex's annual meeting on October 26, 2004. Chorman's appointment brings the total number of Standex board members to twelve.
"Tom Chorman is a seasoned and successful executive with tremendous breadth of international experience at industrial and consumer products companies that mirror the Standex portfolio of businesses," said Nick Muller, Chairman of the Nominating/Corporate Governance Committee. Muller is leading the Committee's continuing initiative to recruit additional independent members to the Standex Board of Directors.
"In addition to CEO- and CFO-level leadership at two worldwide manufacturing companies, Tom's background includes financial and operational experience at one of the world's largest consumer products companies," said Muller. "As a result, Tom brings the Board wide-ranging expertise not only in corporate finance, but also in new business and product development, mergers and acquisitions, and supply chain management. With his knowledge in these areas, plus his demonstrated creativity as an executive, Tom will be a significant addition to the Board and an important asset for the management team as Standex pursues its corporate goals."
Prior to joining Foamex International as Chief Financial Officer in 2001, Chorman served as Chief Financial Officer at Ansell Healthcare, Inc. His prior experience also includes three years as Vice President and Chief Financial Officer, Worldwide Floor Product Operations, at Armstrong World Industries. For 13 years, Chorman was with Procter and Gamble, where he rose through the ranks from Analyst, Food Products to Global Finance Manager & CFO, Corporate New Ventures. In that position, he managed strategic product development and corporate innovation programs.
Chorman earned an MBA from Rutgers Graduate School of Management and an undergraduate degree in economics from City University of New York.
Standex International Corporation is a multi-industry manufacturer in three broad business segments: Food Service, Industrial and Consumer with operations in the United States, Europe, Canada, Australia, Singapore, Mexico, Brazil and China. For additional information, visit the Company's website at www.standex.com.
CONTACT: Standex International Corporation Christian Storch, 603-893-9701 InvestorRelations@Standex.com SOURCE: Standex International Corporation