WOONSOCKET, R.I., June 12, 2015 (GLOBE NEWSWIRE) -- Summer Infant, Inc. (Nasdaq:SUMR) ("Summer Infant" or the "Company"), a global leader in premium juvenile products, today announced that Ted Kelley has been appointed the Company's Senior Vice President, Global Sales effective July 7, 2015. Mr. Kelley brings 17 years of juvenile industry experience in sales, marketing, product development, and brand management from a number of leading companies in the industry.
"Ted has a unique, strong combination of skills including sales management, brand expansion, retail negotiations, and channel development that are integral to Summer Infant's expansion plans," said Bob Stebenne, the Company's President and Chief Executive Officer. "He is a perfect choice for the Company at this key time in our growth trajectory, as we focus on strengthening our core brands, penetrating new markets, and accelerating our presence online. I am confident that Ted's broad-based background, industry acumen, and interpersonal style represent a great fit for Summer Infant. I am excited to see him put his passion and expertise to work building Summer Infant into a broader, stronger, more successful organization."
"I am excited by the opportunity presented by Summer Infant and believe there is great potential to expand the Company in multiple directions," added Mr. Kelley. "We operate in a fast-paced industry that requires innovation as well as attention to detail, and I hope to continue to enhance Summer Infant's reputation as a company known for its leading brands, consumer loyalty, and for creating amazing products for parents and caregivers across the globe."
A graduate of Boston College, Mr. Kelley has held a number of positions with progressively greater responsibility at both Safety First and, upon its purchase by Dorel Industries, at Dorel's Juvenile Group, culminating in his most recent position as Executive Vice President of Sales / General Manager.
In connection with his offer of employment, Mr. Kelley was granted an option to purchase 20,000 shares of the Company's common stock, with an exercise price equal to the closing price of the Company's common stock on the date of grant, and 10,000 shares of restricted stock. Subject to Mr. Kelley's continued service with the Company, his stock option and restricted stock awards will each vest in equal annual installments over a four-year period beginning on the first anniversary of the date of grant. The Compensation Committee of the Company's Board of Directors granted these awards as an inducement material to Mr. Kelley's acceptance of employment in accordance with NASDAQ Listing Rule 5635(c)(4).
About Summer Infant, Inc.
Based in Woonsocket, Rhode Island, the Company is a global leader of premium juvenile products for ages 0-3 years which are sold principally to large North American and international retailers. The Company currently sells proprietary products in a number of different categories including nursery audio/video monitors, safety gates, durable bath products, bed rails, nursery products, strollers, booster and potty seats, swaddling blankets, bouncers, travel accessories, highchairs, swings, and infant feeding products. For more information about the Company, please visit www.summerinfant.com.
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