In the starting of August 2002 AG produced a tender provide to purchase all outstanding shares from the publicly traded US business
Swiss Army Brands Inc. in an try to take the US business personal. The tender provide was officially effective on August 26 2002. The
bid cost was $9 per share.
and its affiliates owned roughly 67. gold rolex watch 8% from the outstanding shares of Typical Stock of Swiss Army Brands and for your tender provide
to become effective had to acquire manage of not much less than 90% from the total quantity of outstanding shares. Estimates are that
was in a position to obtain roughly 98. 8% of all outstanding shares.
When the tender provide was effective AG named Sue Rechner (image) formerly Senior Vice President international watch Swiss Army
Brands Inc. and CEO of Swiss Army Watch SA President of Swiss Army Brands Inc. Additionally Swiss Army Brands Inc. Chairman Peter W.
Gilson and its President A. Jeffrey Turner announced their plans to resign within the extremely close to future.
"We at are delighted in the prospect of Ms. Rechner guiding Swiss Army in to the future " Charles Elsener Jr replica cartier watches . President of A replica breitling paypal . G. stated
inside a ready statement. "My father Chairman of and I've watched Ms
. Rechner re launch Swiss Army s domestic watch company and create Swiss Army Watch SA from a idea into a expanding concern. We've been tremendously impressed with her vision and drive and her
capability to make items occur. "
Rechner believes that taking the business personal will advantage their retailers each within the brief phrase and more than the
lengthy haul. "The onus is off the brief phrase outcomes and also the concentrate is on long-term choice creating " she stated.
"Customer satisfaction is our greatest concern and also you can t make investments in consumer satisfaction with out expenditures
which may impact the brief phrase bottom line. Now that we don t need to be concerned concerning the shareholders we'll be much more
versatile and agile. We are able to focus on our core company rather than worrying about how you can earn money within the brief
phrase. "
"The watch side of our company will remain pretty stable simply because it s operating superbly. You'll see modifications within the
other companies " Rechner explained. "Watch retailers have currently noticed the modifications. A lot of the items watch retailers
have felt more than the final time period have grown to be the model which will be applied to other components of our company. For
watch retailers it'll be company as usual enhancing the direct sales force much better point of sale help much better item line much
better advertising help much better coaching.
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