CONTACT: Leo Taylor
Tandycrafts, Inc. (817) 551-9600
([email protected])
FOR IMMEDIATE RELEASE or
Jeff Lambert, Tara Powers ([email protected])
Lambert, Edwards & Associates, Inc. (616) 233-0500
TANDYCRAFTS EXPANDS BOARD WITH ADDITION OF MANCO CEO
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FORT WORTH, Texas, June 22, 2000 - The board of directors of Tandycrafts, Inc.
(NYSE:TAC) today announced it has named Jack Kahl as a director. Kahl is chief
executive officer of Manco, Inc., a leading manufacturer and marketer of
consumer products for the home, professional and do-it-yourself markets,
including the category-dominating Duck(R) tape brand adhesive.
Kahl, 59, has been recognized for his leadership tactics by Forbes, Inc.,
Industry Week and Business Week, and was named one of "America's Most Admired
CEOs" alongside ten other executives, including Microsoft's Bill Gates and GE
Chief Executive Jack Welch. Kahl also was honored by Inc. as one of the top
three CEOs in America to benchmark for leadership practices.
Tandycrafts, the Fort Worth-Texas based consumer products maker, said Kahl's
product expertise and success in reaching both the mass merchandise and
specialty retail markets will be invaluable as the Company directs its focus on
its frames and wall decor, home furnishings, and consumer direct operations. The
addition of Kahl expands the Tandycrafts board to six seats.
"Jack brings tremendous experience and a strong independent perspective to the
Tandycrafts' board," said Michael Walsh, chairman and chief executive officer of
Tandycrafts. "His proven track record, strong understanding of a variety of
retail channels, and the growth Manco has experienced under his leadership
underscore the board's optimism in adding Jack to our team."
Manco, Inc., a Henkel Group company, develops and markets a full-line of
innovative do-it-yourself adhesives, office stationery and houseware products
for consumers, and is best known for its category-dominating Duck(R) tape brand
adhesive. Kahl joined Manco in 1963, growing the company from $80,000 to $235
million in annual sales. Under Kahl's guidance, Manco has been internationally
recognized for its innovative business practices and its commitment to customer
service.
"Tandycrafts has a clearly defined plan and is well positioned in the core
markets it serves. I look forward to adding my experience to an already strong
board and management team as we work to execute the strategic plan and
accelerate growth at the Company," Kahl said.
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Kahl also serves on the board of directors for a number of companies and
organizations, including Applied Industrial Technologies, Royal Appliance, Inc.,
Paragon Holdings, MCM Capital Advisory Boards, Clark/Bardes, Superlative Group
and The United Way. He is a member of the Conference Board, the Institute of
American Entrepreneurs, the American Hardware Association and the International
Mass Retailing Association, and is former chairman of the board of Students In
Free Enterprise (S.I.F.E.), which provides 800,000 college students with an
opportunity to apply today's economic issues in their local communities. Kahl
holds a bachelor's degree in marketing from John Carroll University and is a
member of the school's board of trustees.
Tandycrafts, Inc. (www.tandycrafts.com) is a leading maker and marketer of
consumer products, including frames and wall decor, office supplies, home
furnishings and gift products. The Company's products are sold nationwide
through wholesale distribution channels, including mass merchandisers and
specialty retailers, and direct-to-consumer channels through the Company's
retail stores, mail order and the Internet.
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