FOR IMMEDIATE RELEASE CONTACT: SUZANNE BRINK
Boulder, Colorado Investor Relations Manager
November 2, 2000 (720) 406-4699
HAUSER ANNOUNCES KEY MANAGEMENT CHANGES
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Hauser Inc. (OTCBB:HAUS), today announced changes in its top management team.
Volker Wypyszyk, former President and Chief Executive Officer of Hauser, Inc.,
requested the Board of Directors relieve him of his duties as Chief Executive
Officer so he could take direct responsibility for restoring the Natural
Products Division of the Company to profitability. The Division was created in
June 1999 when the bulk botanical extract manufacturing capability of the
Company was combined with Zuellig Botanical Extracts, a distributor of bulk
botanical extracts. Mr. Wypyszyk will become a Senior Executive Vice President
and will continue as a Director of the Company.
Kenneth C. Cleveland has been named President and Chief Executive Officer and a
Director of the Company. Mr. Cleveland joined the Company in August 2000 as
Senior Executive Vice President and Chief Financial Officer. Mr. Cleveland is
President of Kenneth Cleveland Associates, Inc., a firm which specializes in
advising businesses about financial and operational restructuring.
Hauser, a CUSTOMER CONNECTEDSM company headquartered in Boulder, Colorado, is a
leading supplier of herbal extracts and nutritional supplements. The Company
also provides interdisciplinary laboratory testing services, chemical
engineering services, and contract research and development. The Company's
products and services are principally marketed to the pharmaceutical, dietary
supplement and food ingredient businesses. Hauser's business units include:
Botanicals International Extracts, Hauser Laboratories, Shuster Laboratories,
and ZetaPharm.
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Certain oral and written statements of management of the Company included in
this Press Release and elsewhere may contain forward-looking statements within
the meaning of Section 27A of the Securities Exchange Act of 1933 and Section
21E of the Securities Exchange Act of 1934, which are intended to be covered by
the safe harbors created thereby. These statements include the plans and
objectives of management for future operations. The forward-looking statements
included herein and elsewhere are based on current expectations that involve
judgments which are difficult or impossible to predict accurately and many of
which are beyond the control of the Company. Although the Company believes that
the assumptions underlying the forward-looking statements are reasonable, any of
the assumptions could be inaccurate and, therefore, there can be no assurance
that the forward-looking statements will prove to be accurate. In light of the
significant uncertainties inherent in the forward-looking statements, the
inclusion of such information should not be regarded as a representation by the
Company or any other person that the objectives and plans of the Company will be
achieved.
