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Champion Enterprises Names William C. Griffiths Chairman and Adds Two Directors to Its Board AUBURN HILLS, Mich., March 9, 2006 Griffiths joined Champion Enterprises in August of 2004 as president and CEO. "Bill has led the Company through a major turnaround, transforming it into the largest modular homebuilder in the United States. Griffiths has guided the Company's return to profitability, closed or sold unprofitable operations, and developed a successful long-term strategy for future growth," said Selwyn Isakow. The appointment of Messrs. Madden and Weiss adds further financial experience to the Board, as each has held chief financial officer positions at multi-billion dollar companies. In addition, the international experience of Mr. Madden and the homebuilding experience of Mr. Weiss will be valuable in the execution of Champion's growth strategy. Madden is the retired executive vice president and chief financial officer of Ingram Micro Inc., the world's largest technology distributor. As CFO, Madden directed Ingram Micro's global financial operations, supervising the company's treasury, finance and accounting departments as well as serving in the Office of the Chairman to help determine corporate policies, strategies and growth initiatives. He currently serves on the board of directors of Mindspeed Technologies, Freightcar America and City of Hope cancer institute. Madden has been named to Champion's Audit and Financial Resources Committee. Weiss worked in the homebuilding industry for a decade, beginning first in 1993 with Hanson Industries, and then Beazer Homes after its spin-off by Hanson. Weiss was executive vice president and chief financial officer of Beazer, one of the largest single-family homebuilders in the nation currently with $5 billion in revenues. He was a key contributor to Beazer's successful initial public offering and later developed its "Value Created" system for financial performance evaluation that is still used today. Weiss will sit on Champion's Compensation and Human Resources Committee. "I would like to thank Selwyn for his service as Board Chairman and I look forward to working with him closely in the future," said William Griffiths, chairman, president and CEO of Champion Enterprises, Inc. "I also want to welcome Tom and Dave, who will be valuable additions to the board." About Champion |
