|Movado Group, Inc. Appoints New Independent Director To The Board|
PARAMUS, N.J., June 27 /PRNewswire-FirstCall/ -- Movado Group, Inc. (NYSE: MOV) today announced the appointment of Richard Isserman to the Company's Board of Directors and to the Audit Committee of the Board of Directors. The addition of Mr. Isserman expands the Company's Board to nine members and increases the Board's independent membership to six.
Mr. Isserman, age 70, enjoyed a distinguished career with KPMG LLP that spanned nearly 40 years. For 26 years, Mr. Isserman served as Audit Partner in KPMG's New York office. Mr. Isserman also led KPMG's real estate audit practice in New York and was a member of the firm's SEC Reviewing Partners Committee. He currently teaches accounting courses at Yeshiva University and Long Island University business schools. Mr. Isserman is a licensed New York state CPA and is the former Chairman of the New York State Society of CPAs SEC committee. He is also a member of the American Institute of CPAs and formerly served on its Board of Examiners. Mr. Isserman is currently the Chairman of the Corporate Compliance Committee and member of the Audit Committee for the Federation Employment and Guidance Services, a social service agency in New York City. He is also a member of the Finance Committee for the Jewish Museum in New York City.
Efraim Grinberg, President and Chief Executive Officer commented, "We are very pleased to have Richard join our Board of Directors. Richard will be a valuable asset to Movado Group with a wealth of experience in finance and accounting, as evidenced by his numerous leadership positions held within the profession. As a member of the Audit Committee, Richard will be a great addition to our strong team and we look forward to his contributions."
Movado Group, Inc. designs, manufactures, and distributes Movado, Ebel, Concord, ESQ, Coach, Tommy Hilfiger and Hugo Boss watches worldwide, and operates Movado boutiques and Company stores in the United States.
SOURCE Movado Group, Inc. -0- 06/27/2005 /CONTACT: Investor Relations - Suzanne Michalek, Director of Corporate Communications, Movado Group, Inc., +1-201-267-8000; or Melissa Myron or Rachel Albert, +1-212-850-5600, both of Financial Dynamics, for Movado Group, Inc./ /Web site: http://www.movadogroupinc.com / (MOV)
|"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Movado Group Inc's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.|