Russ Berrie changes corporate name to 'Kid Brands, Inc.’
Russ Berrie and Company, Inc. has changed its corporate name to Kid Brands, Inc.
-- Kids Today, 10/1/2009 12:00:00 AM
Russ Berrie and Company, Inc. has changed its corporate name to Kid Brands, Inc., which reflects the company’s transformation and growth strategies focused on the infant and juvenile products industry globally.
“Our decision to pursue a new corporate identity as Kid Brands, Inc. is the culmination of our company’s transformation toward focusing purely on the attractive infant and juvenile products industry,” said Bruce G. Crain, CEO and president.
“The name reflects and communicates our current portfolio of infant and juvenile businesses and is also consistent with our additional growth strategies and intentions to enter complementary and adjacent categories over time,” he continued. “Further, we believe our new name reinforces our core strategy of industry leadership through design-led and innovative branded product offerings and sends a clear message about our ability to bring comprehensive solutions to our retailer partners and to consumers.”
The company plans to continue to market its branded products primarily under the brand names of its subsidiaries (Kids Line, LaJobi , Sassy and CoCaLo), and also continue to offer programs under select licenses such as Carter’s, Disney, Graco and Serta.
Shareholders were notified of the proposal to change the corporate name to Kid Brands, Inc. through the company’s proxy statement, and the vote took place at the company’s annual meeting on Sept. 22. The company immediately changed its trading symbol on the NYSE to “KID.”
In other news, shareholders also re-elected Raphael Benaroya, Mario A. Ciampi, Bruce G. Crain, Frederick J. Horowitz, Lauren Krueger, Salvatore M. Salibello, John V. Schaefer and Michael J. Zimmerman to the company’s board of directors.
We would love your feedback!
