Aldila CEO Retires; Replacement Announced
POWAY, Calif. - Aldila, Inc. (NASDAQ/NMS:ALDA) announced today that Chairman and Chief Executive Officer, Gary T. Barbera, 62, has elected to retire after twelve years with the company. Barbera joined Aldila as President and COO in 1988 and has been Chairman and CEO since 1996.
Aldila's Board of Directors has named Peter R. Mathewson, President and Chief Operating Officer of Aldila Golf Corp., to succeed Barbera as Chairman and CEO of Aldila, Inc., effective January 1, 2000.
Mr. Mathewson, 49, has been President and Chief Operating Officer of Aldila's core golf business since 1997 and will continue in this position. He joined Aldila's manufacturing operation in 1973 and served in several manufacturing managerial positions before becoming President and COO of Aldila Golf.
"Pete has played a significant role in making the decisions contributing to Aldila's leadership position in the golf industry," Barbera said. "It is appropriate that he now assume the top leadership role of the Company. His extensive experience and involvement at Aldila over the years has earned him the high regard and respect of our customers and suppliers in the industry, and I share the Board's enthusiasm for his abilities and look forward to working closely with him to effect a smooth transition."
Mathewson said, "I want to take this opportunity on behalf of the Board of Directors to thank Gary for his leadership and service. All of us at Aldila wish him many years of good health and happiness in the future."
"I welcome this opportunity to assume the role of Chairman and CEO at Aldila and believe the combined talents of the entire Aldila team will enable us to continue our leading position in the golf industry," Mathewson continued.
Aldila, Inc. is the world's leading manufacturer of graphite golf shafts used in clubs assembled and marketed throughout the world by leading golf club companies, distributors and custom clubmakers. Through vertical integration the company manufactures carbon fiber and composite prepreg for its golf shaft business.
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