MAYWOOD, NJ--(Marketwired - Dec 30, 2016) - Jaclyn, Inc. (OTCQX: JCLY) today announced that its Board of Directors has appointed Allan Ginsburg, Chairman of the Board of the Company, to the additional position of Co-President and Co-Chief Executive Officer. Mr. Ginsburg will assume his new additional position effective January 1, 2017. At that time, Robert Chestnov, the Company's President and Chief Executive Officer, will become a consultant to the Company. Mr. Chestnov will also be a Co-President and Co-Chief-Executive Officer of the Company, and, in that capacity, he will continue to perform substantially the same duties and responsibilities to the Company he performed during his 28-year tenure as President and Chief Executive Officer. Mr. Chestnov will also provide such other senior management level consulting services requested by the Board of Directors.
Both Mr. Ginsburg and Mr. Chestnov will continue to serve as directors of the Company.
Note: This press release contains information concerning, among other things, our future plans and objectives that are or may be deemed to be forward-looking statements. However, forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause our actual results, trends, performance or achievements, or industry trends and results, to differ materially from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. Those risks and uncertainties may include, but are not limited to, general economic and business conditions; competition; potential changes in customer spending; acceptance of our product offerings and designs; the variability of consumer spending resulting from changes in domestic economic activity; a highly promotional retail environment; any significant variations between actual amounts and the amounts estimated for those matters identified as our critical accounting estimates as well as other significant accounting estimates made in the preparation of our financial statements; and the impact of current and potential hostilities in various parts of the world; as well as other geopolitical concerns. You are urged to consider all such factors. In light of the uncertainty inherent in such forward-looking statements, you should not consider their inclusion to be a representation that such forward-looking matters will be achieved. We assume no obligation for updating any such forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking statements.
Jaclyn, Inc. is a designer, manufacturer and marketer of apparel, women's sleepwear, infants' and children's apparel, handbags, premium incentives and related accessories. Website: jaclyninc.com