SOURCE: Mannatech, Inc.

May 08, 2006 18:04 ET

Mannatech Appoints New V.P.-Treasury/Investor Relations

COPPELL, TX -- (MARKET WIRE) -- May 8, 2006 -- Mannatech, Incorporated (NASDAQ: MTEX) today announced the appointment of Gary M. Spinell as its Vice President, Treasury and Investor Relations. Mr. Spinell had previously been with Hotels.com / Interactive Corp. (NASDAQ symbol EXPE), as well as Blockbuster, Inc. (NYSE symbol BBI) and brings a long and impressive background in global cash management, foreign exchange and hedging, credit card relationships, and financial analysis to Mannatech. In addition to treasury management, he will also be responsible for building a more formal and proactive investor relations program for the Company.

"We are excited to have attracted an executive such as Gary," stated Mannatech CEO and Chairman Sam Caster. "His twenty years of experience in Treasury functions combined with his familiarity with investor relations will allow us to focus closely on these important areas. Our plan for 2006 called for greater emphasis on these areas this year, and Gary's background and skills will strengthen our investor relations effort to address growing investor interest in the Company and take the Mannatech story to a wider investor audience. We believe that a stronger program for investor relations brings benefits on a number of issues, and Gary will help move that program forward."

Mr. Spinell absorbs the Treasury responsibility from Ron Norman, who moved to the new post of Vice President, International Finance in order to facilitate the future expansion of Mannatech into new countries and markets.

Mannatech also announced the resignation of Mr. Steven W. Lemme from his position as Senior Vice President of Sales and Marketing, effective June 5, 2006. Mr. Lemme announced that he plans to pursue certain personal family goals.

Mannatech is listed on the NASDAQ National Market under the symbol "MTEX." For over a decade, Mannatech has developed innovative, high-quality, proprietary nutritional supplements, topical products and weight-management products that are sold through a global network-marketing system throughout the United States and the international markets of Canada, Australia, the United Kingdom, Japan, New Zealand, Republic of Korea, Taiwan, Denmark, and Germany.

Please Note: This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as "may," "believes," "estimates," and "plans" or other similar words or the negative of such terminology. Similarly, descriptions of Mannatech's objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Mannatech believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Although Mannatech believes that its expectations, statements, and assumptions reflected in these forward-looking statements are reasonable, it cautions its readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.

Contact Information

  • Contact:
    Steve Fenstermacher
    Chief Financial Officer
    Investor Relations
    Email Contact
    call (972) 471-6512