Vita Announces New President and CEO
August 22 2006 - 9:00AM
PR Newswire (US)
CHICAGO, Aug. 22 /PRNewswire-FirstCall/ -- Vita Food Products, Inc.
(AMEX:VSF) today announced that it has promoted Clifford K. Bolen
to the position of President and Chief Executive Officer. Mr.
Bolen, age 48, has served as the Company's Chief Financial Officer
since November 2000, Chief Operating Officer since June 2005 and
member of the Office of the Chief Executive since March 2006. Mr.
Bolen will continue to serve as Chief Financial Officer until the
position is filled. Mr. Bolen's background includes positions held
in operations management as well as senior financial management for
over 20 years with a concentration in manufacturing and food
processing. Mr. Bolen graduated from the University of Chicago's
Executive MBA program in 1998. Stephen D. Rubin, a Company founder,
the Company's President since 1982 and a member of the Office of
the Chief Executive since March 2006, will maintain his leadership
role in the Company by continuing as Chairman of the Board of
Directors. Terry W. Hess, a member of the Office of the Chief
Executive since March 2006, will continue to serve as the Vice
Chairman of the Board of Directors and Chief Executive Officer of
Vita Specialty Foods, Inc., the Company's wholly-owned subsidiary.
"Since joining Vita almost six years ago, Cliff has provided the
Company with strategic and financial vision. His proven leadership
skills and strong knowledge of the Company's operations make him
well qualified to lead us as we continue to focus on providing our
customers with high quality products and maximizing shareholder
value," said Stephen D. Rubin, Chairman of the Board. "I am excited
and honored to continue to work with Vita's leadership team as we
build on the progress we've made while implementing additional
strategies toward profitable growth," said Cliff Bolen, President
and Chief Executive Officer. The Company's Vita Seafood division is
a U.S. leader in the herring and retail packaged salmon markets,
and is engaged in several other food segments, including cream
cheese, cocktail sauce, tartar sauce and horseradish. The Company
markets and sells these items under the Vita(R), Elf(R) and Grand
Isle(R) brands. More than 95% of Vita Seafood's sales are in kosher
foods. Vita Specialty Foods, Inc., the Company's wholly owned
subsidiary, markets and sells honey, salad dressings, meat
enhancements and salsas. The Company markets and sells these items
under the Virginia Brand(R), Oak Hill Farms(R), Scorned Woman(R),
Jim Beam(R) and Budweiser(R) brands. For more information visit
http://www.vitafoodproducts.com/ . The common stock of Vita Food
Products, Inc. is currently traded on the American Stock Exchange
and Chicago Stock Exchange under the ticker symbol VSF. This
release contains forward-looking statements about the Company's
future growth, profitability, introduction of new products, and
competitive position. Any such statements are subject to risks and
uncertainties, including changes in economic and market conditions,
industry competition, raw material prices, the success of new
product introductions, management of growth and other risks noted
in the Company's filings with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on
forward-looking statements, which reflect management's analysis
only as of the date hereof. DATASOURCE: Vita Food Products, Inc.
CONTACT: Clifford Bolen, CEO, President of Vita Food Products,
Inc., +1-312-738-4500, Web site: http://www.vitafoodproducts.com/
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