Interim Chairman Michael Goldstein Retires
Bruce R. Foster Named Interim Chief Executive Officer, Appointed to
Board of Directors
Company Website:
http://www.4kidsentertainment.com
NEW YORK -- (Business Wire)
4Kids Entertainment, Inc. (Pink Sheets: KIDEQ), the global
children’s entertainment and merchandise licensing company, has
announced the appointment of Director Jay Emmett to Chairman of the
Board of Directors. Effective September 30, 2012, Michael Goldstein has
retired from his positions as the Company’s Interim Chairman, Chairman
of the Audit Committee, Board Member, and Member of the Nominating
Committee.
“On behalf of 4Kids Entertainment, I want to thank Mr. Goldstein for his
years of service to the 4Kids Board of Directors,” said Jay Emmett. “We
are very grateful to Michael for his leadership, guidance and the
expertise he brought to our Board,” added Emmett.
Newly appointed Chairman, Jay Emmett, has been a 4Kids Board Member for
over 12 years. He has had a long, successful career in the entertainment
industry and founded the Licensing Corporation of America, which
represented Major League Baseball, National Basketball Association,
National Hockey League, and the National Football League Players
Association, as well as many entertainment properties including Batman,
Superman, and James Bond. Mr. Emmett has been a member of the
International Special Olympics Board for 30 years, and served as
President of the Special Olympics from 2007 to 2008.
Bruce R. Foster has been named Interim Chief Executive Officer and been
appointed as a member of the Board of Directors; he will continue to
serve as Chief Financial Officer. Mr. Foster joined 4Kids in 2002 and
has been instrumental in leading the Company through the bankruptcy
process and in developing a strategy to reorganize the Company.
“I am excited about the opportunity to lead the Company out of
bankruptcy,” said Mr. Foster. “Working closely with the Board of
Directors, I am focused on developing the underlying business strategy
necessary to implement a Plan of Reorganization. This new business plan
creates a unique opportunity for the Company,” added Foster.
The information contained in this press release, other than historical
information, consists of forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
statements may involve risks and uncertainties that could cause actual
results to differ materially from those described in such statements.
Although the company believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that
such expectations will prove to have been correct. Important factors
beyond the company's control, including general economic conditions,
consumer spending levels, competition from toy companies, motion picture
studios and other licensing companies, the uncertainty of public
response to the company's properties and other factors could cause
actual results to differ materially from the company's expectations.
Contacts:
Investors:
4Kids Entertainment, Inc.
Lynda A.
Pandolfo, 646-822-4208
lpandolfo@4kidsent.com
Source: 4Kids Entertainment, Inc.
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