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Sturm, Ruger & Company, Inc. (NYSE:RGR) announces that at its May 24th meeting following the Annual Meeting of Stockholders, the Board of Directors voted to amend the Company's By-Laws to increase the number of Directors to eight, and appointed C. Michael Jacobi, Stephen Merkel and Ronald Whitaker as Board members effective as of June 1, 2006.
Mr. Jacobi is the former President, CEO, and Board member of Katy Industries and former President, CEO, and member of the Board of Directors of Timex Corporation. He currently serves on the Board of the Corrections Corporation of American and also serves as a Board member and Audit Committee Chair of the Webster Financial Corporation.
Mr. Merkel is the Chairman & CEO of Watco International Holdings. He is the former Corporate Vice-President, Officer and President of Loctite General Industrial Businesses and former President of Loctite Americas. He is a former Board member of Turtle Wax Inc. and St. Francis Hospital.
Mr. Whitaker is the President & CEO of Hyco International, former President & CEO of Strategic Distribution, Inc., former President & CEO of Johnson Outdoors, and former President & CEO of Colt's Manufacturing Co, Inc. He is also a current Board member of Firearms Training Systems in Atlanta, GA.
Vice-Chairman, President and Interim Chief Executive Officer Stephen L. Sanetti commented, "Messrs. Jacobi, Merkel and Whitaker bring valuable experience as talented, seasoned executives who will augment the already excellent leadership capabilities of our current Board. We are delighted to have them join Sturm, Ruger's Board of Directors and look forward to their valuable contributions as the Company strives to build upon the legacy of its founder William B. Ruger."
About Sturm, Ruger & Co., Inc.
Sturm, Ruger & Co., Inc. is one of the nation's leading manufacturers of rugged, reliable firearms for the commercial sporting market. With products made in America, Ruger offers consumers almost 800 variations of more than 40 product lines. For more than 70 years, Ruger has been a model of corporate and community responsibility. Our motto, "Arms Makers for Responsible Citizens®," echoes our commitment to these principles as we work hard to deliver quality and innovative firearms.
The Company may, from time to time, make forward-looking statements and projections concerning future expectations. Such statements are based on current expectations and are subject to certain qualifying risks and uncertainties, such as market demand, sales levels of firearms, anticipated castings sales and earnings, the need for external financing for operations or capital expenditures, the results of pending litigation against the Company, the impact of future firearms control and environmental legislation, and accounting estimates, any one or more of which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or to reflect the occurrence of subsequent unanticipated events.
Sturm, Ruger & Co., Inc. “Arms Makers for Responsible Citizens®”