Perry Ellis International Inc., which distributes several golf brands and makes Nike swimwear, appointed Joe Arriola to its board.
Arriola is a former member of the Perry Ellis Board, having served as a director from 2006 until 2015. Arriola chose not to stand for re-election to the Perry Ellis Board at the Company’s 2015 Annual Meeting of Shareholders held on July 17, 2015 so he could focus more of his time and attention on his responsibilities as chairman of the Public Health Trust, the independent governing body for Jackson Memorial Hospital and a proposed $1 billion expansion of such hospital. Given the significant progress that the Public Health Trust has achieved over the past six months in connection with such expansion plans, Arriola has advised the Perry Ellis Board that he believes he can once again dedicate the requisite time and attention to serving on the Board.
Arriola brings to the Perry Ellis Board not only extensive experience as an accomplished executive, entrepreneur, governmental leader and public company board member, but also his extensive historical knowledge of Perry Ellis and its operations, knowledge that the Perry Ellis Board believes will be very beneficial as Perry Ellis plans to implement its previously announced leadership succession.
“On behalf of the entire Board, we are extremely pleased that Mr. Arriola has agreed to return to the Perry Ellis Board,” said Jane DeFlorio, the Perry Ellis Board’s lead independent director. “As we prepare to implement next year our previously announced leadership succession plan and strive for a transition that is as seamless as possible to our associates, customers and shareholders, we look forward to once again benefiting from Joe’s extensive knowledge of Perry Ellis and its operations.”
“During his nine years on the Perry Ellis Board, Joe Arriola was an exemplary board member who spent a lot of time and effort to understand the Company and brought incredible wisdom, experience and intellect to our business and made countless valuable contributions to Perry Ellis,” said George Feldenkreis, Chairman and Chief Executive Officer of Perry Ellis. “I am delighted that Joe is rejoining the Board so, once again, we will have the opportunity to benefit from his guidance and experience.”
“I am excited to be returning to the Perry Ellis Board,” said Arriola. “With the election to the Perry Ellis Board last summer of apparel industry veterans Bruce Klatsky and Michael Rayden, the Perry Ellis Board today boasts one of the strongest boards in the apparel industry and I will be honored to have the opportunity to work alongside such industry leaders as we work together to drive Perry Ellis’ next era of growth and shareholder value creation.”
Arriola has been appointed to the class of directors that has its term expiring at the 2016 Annual Meeting of Shareholders. Concurrently with Mr. Arriola’s appointment to the Perry Ellis Board, the Board approved a resolution increasing the size of the Board from seven to eight directors. The Perry Ellis Board has determined that Mr. Arriola is an “independent director” under applicable rules. In connection with his appointment to the Board, Mr. Arriola is expected to serve on the Investment and Corporate Governance and Nominating committees of the Board.
With the appointment of Arriola, the Perry Ellis Board is composed of eight highly-qualified and experienced directors, six of whom are independent, and boasts a broad and diverse set of skills and experiences in the areas of apparel, sourcing, merchandising, wholesaling, licensing, retailing, e-commerce, branding, marketing, customer service, sales, logistics, operations, distribution, store planning and development, finance, mergers and acquisitions, capital markets, capital allocation, capital structure, risk management, global operations, strategic planning and governmental relations.
Perry Ellis International, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands, including: Perry Ellis, Jantzen, Laundry by Shelli Segal, Rafaella, Cubavera, Ben Hogan, Savane, Original Penguin by Munsingwear, Grand Slam, John Henry, Manhattan, Axist, and Farah. The company enhances its roster of brands by licensing trademarks from third parties, including: Nike and Jag for swimwear, and Callaway, PGA TOUR, and Jack Nicklaus for golf apparel.
