FERNANDO MORTHERA NAMED
PRESIDENT, STANLEY HOME PRODUCTS
LEICESTER, NY, July 25, 2003 -- CPAC, Inc. (Nasdaq: CPAK) today announced the appointment of Mr. Fernando Morthera as President of Stanley Home Products, its direct selling business unit headquartered in Agawam, MA, effective immediately. Stanley Home Products was founded in 1931 and offers highly effective home cleaning and personal care products. It pioneered the 'party plan' sales method used today by leading direct selling organizations worldwide.
As President, Mr. Morthera assumes complete profit and loss responsibility for Stanley's direct selling business, with sales, marketing, product development, recruiting, and training reporting to him. His primary focus is restoring Stanley to its preeminent position in the market as a provider of solutions for the home, via its national independent sales organization.
Mr. Morthera began his career in the direct selling industry in 1979 as an art director and merchandising manager for Avon, and has held marketing positions with the House of Fuller in Mexico (a division of Sara Lee.) He has more recently served as Marketing Vice President for Tupperware, Latin America and Managing Director for Tupperware, Spain. For Tupperware, Mr. Morthera was responsible for reversing a declining trend in both sales and profits, and steadily increased market penetration of distributors and independent consultants. In October 2000 he was appointed Senior Vice President, Global Marketing for Beauticontrol, Inc., a direct seller of beauty and nutritional products that had been acquired by Tupperware. He successfully opened the Mexican market for Beauticontrol, building a new corporate team as well as the field sales organization. He defined sales and marketing strategies, a new compensation plan, and helped develop I.T. systems to support these initiatives.
According to G. Robert Gey, President of CPAC's Fuller Brands segment, "Mr. Morthera's broad experience in the direct selling industry is a great asset to CPAC as we attempt to turn the Stanley business around. We fully expect that, under his leadership, Stanley Home Products will stabilize and reenergize, enabling it to fulfill its potential as a premiere direct selling organization."
Mr. Morthera holds an MBA from The Instituto Tecnologica Autonomo de Mexico (ITAM) in Mexico City and a degree in Industrial Design from Mexico's Anahuac University. He and his family will relocate to Agawam.
About CPAC, Inc.
Established in 1969, CPAC, Inc. (cpac.com) manages holdings in two industries. The Fuller Brands segment manufactures commercial, industrial, and household cleaning products, as well as custom brushes and personal care lines for The Fuller Brush Company, Stanley Home Products, and Cleaning Technologies Group. The CPAC Imaging segment develops and markets innovative imaging chemicals, equipment, and supplies at eight business units worldwide. Stock is traded under the symbol: CPAK.
Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties, which may affect CPAC's business and prospects, including economic, competitive, governmental, technological, and other factors discussed in CPAC's filings with the Securities and Exchange Commission.
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