Lou Mancini Named CEO at Brookstone Succeeds Michael Anthony
Thursday, 20 April 2006
Brookstone, Inc. this week announced that it has named Lou Mancini as CEO. In that position, he succeeds Michael Anthony, who has left Brookstone and will pursue other interests.
Ron Sim, chairman of Brookstone and CEO of OSIM International, which acquired Brookstone as part of the new ownership group in October 2005, said, "Lou Mancini is a seasoned CEO with over 25 years of experience in managing specialty retailing companies, including the most dynamic growth phase of General Nutrition Centers, one of the most successful specialty retailers of the 1990s. As CEO of Murray's Auto Discount Stores, he made a dramatic impact on the company's operations and financial performance. In a little more than a year there, he successfully addressed competitive and operating issues, including store profitability."
Sim added, "Lou brings management strength and a new perspective on retail store management to Brookstone. He will provide the company with strong leadership as we work as a team to realize the full value of the Brookstone brand. We believe that we already have the infrastructure and product culture necessary to take it to the next level. At this point, the primary need — as well as opportunity — is to increase productivity in the retail stores. That will be Lou's mandate."
Lou Mancini said, "Brookstone is a dynamic specialty retailing company. With OSIM's support, its truly innovative products, and its proven product development capabilities, I believe that we can increase the productivity of our 304 retail stores while continuing to expand market share through our catalog and Internet channels. I look forward to working with a talented management team to help take the company to a new level of performance."
Brookstone's ownership group is led by OSIM International, a Singapore-listed healthy lifestyle products company, and includes JW Childs Associates, LP, a Boston-based private equity firm, and Temasek Holdings (Private) Limited, a Singapore-based investment company.