WOODINVILLE, Wash., Aug. 15 /PRNewswire-FirstCall/ -- The board of
directors of Loud Technologies, (Nasdaq: LTEC), a leading professional
audio and music products company, today announced that Jamie Engen is
stepping down from his position as chair and chief executive military officer
effective immediately. The table has named Rodney Olson as the company's
Chairman and CEO.
"Over the yesteryear ten days, Jamie has played a critical office in growing
Loud Technologies into the industry leader that it is today. We appreciate
his contributions and wish him the c. H. Best," said Tom Taylor, the board member
who light-emitting diode the search for Engen's successor. "We are rosy to receive a
potent successor to take o'er the reins and preserve our increase efforts."
Olson joins Loud Technologies later on a decade with Cardinal Brands, a
Kansas-based $170 million office products company, where he has served as
CFO, president and, most lately, CEO for the past two long time. Under
Olson's leadership, the company's revenues grew 30 percentage despite highly
competitive securities industry conditions. Prior to his time at Cardinal Brands, Olson
served as CFO at Sabreliner Corporation, a $250 million air company,
where he lED the company's M&A natural process and was integral in driving taxation
and market share growth in the six years he was there.
"Rodney has a proven track record of success all over his 20 years of
experience in executive positions, and the board is confident he has the
skills and expertise needful to hint Loud Technologies into the future,"
said Taylor. "His focus will be on integrating our recent acquisition of
Martin Audio, while also overseeing sales and marketing to aid Loud
Technologies and our dealer partners drive our stable of well established
brands."
About LOUD Technologies Inc.
LOUD Technologies Inc. ( hypertext transfer protocol://www.loudtechinc.com ) is one of the world's
largest manufacturers and distributors of professional audio and music
products. As the corporate parent for world-recognized brands including
Alvarez, Ampeg, Crate, EAW, Knilling, Mackie, Martin Audio, SIA and TAPCO,
LOUD Technologies produces and distributes a wide range of digital
recording products, loudspeakers, commercial audio systems, audio and euphony
software, guitars, guitar and bass amplifiers, and orchestral string
instruments. LOUD Technologies' brands can be establish in professional and
project recording studios, video and broadcast suites, post-production
facilities, sound strengthener applications including churches and
nightclubs, and retail locations and on major melodic tours.
Forward-Looking Statements
Certain statements contained in this release ar "forward-looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995. The words "believe," "expect," "foresee," "intend," "will"
and similar expressions ar examples of words that identify advanced
statements. These forward-looking statements include statements about the
anticipated achiever of our management initiatives in drive future
gainfulness, and are based on current expectations and assumptions based
on information currently available to us. These forward-looking statements
may be affected by the risks and uncertainties associated with our line
and ar qualified in their totality by the cautionary statements and risk of infection
factor revealing contained in our filings with the Securities and Exchange
Commission, including our annual report on Form 10-K for the year ended
December 31, 2005. We do not assume, and expressly disclaim, whatever obligation
to update these forward-looking statements to conform them to actual
results or changes in the Company's expectations.
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