FORT WORTH, Texas - (Business Wire) Tandy Leather Factory, Inc. (AMEX: TLF) announced today that the Board of Directors has promoted Jon Thompson to the position of President and Chief Operating Officer of the company effective June 1st. Ron Morgan, the company
’s Chief Executive Officer, has held these positions since February 2001 and June 1993, respectively. Mr. Morgan will remain as Chief Executive Officer and a director of the company. At the same time, the company is pleased to announce that Mark Angus has accepted the appointment of Senior Vice President effective immediately, a position left open as a result of Mr. Thompson
’s promotion.
Jon Thompson has served as Senior Vice President for the company since June 1993. His tenure with the company began in 1980. Currently, Mr. Thompson oversees the Information Technology department and the company’s central warehouse operation. He is also the company’s senior leather buyer, the liaison with the company’s recently opened United Kingdom operation, and property manager. He has held the position of store manager, as well as regional and national manager of store operations. He has also assisted in the original formation and expansion of the craft and metals product lines and continues to participate in product development.
Mark Angus has served as an operational Vice President with varying responsibilities since June 1993. He has been with the company since 1985. Currently, he is responsible for product research and development, including intellectual property defense, as well as product costing. He manages the import of product from Asia and is the liaison with our largest vendor. He also oversees our manufacturing factory operation, is involved in product placement with our National Account customers, and manages the sales process to major manufacturers and distributors. Mr. Angus has been involved in buckle and metal design work since 1990. Mr. Angus' designs comprise a substantial number of the company's copyrights. He is also responsible for the design of the company's patented belt buckle. Having worked with leathercraft all his life, Mr. Angus also started writing and publishing leathercraft books and designing patterns for leathercraft work in 1982.
Ron Morgan, Chief Executive Officer, commented, “These promotions are well-deserved by Jon and Mark. Jon knows every aspect of our business, from buying product to product costing and setting selling prices to managing store operations. Mark has a passion for new product development and spends a lot of time researching trends and customer preferences. As a result, he is a critical part of our advertising and marketing plans. Both will do well in their new positions.”
Shannon L. Greene, Chief Financial Officer, added, “Adding Jon and Mark to the senior staff is a logical move in my opinion. Their knowledge and experience in all aspects of our business will serve us well as our company continues to grow. I look forward to working closely with them in their new positions.”
Tandy Leather Factory, Inc., (http://www.tandyleatherfactory.com), headquartered in Fort Worth, Texas, is a specialty retailer and wholesale distributor of a broad product line including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The company distributes its products through its 29 Leather Factory stores, located in 19 states and 3 Canadian provinces, 72 Tandy Leather retail stores, located in 34 states and 5 Canadian provinces, one combination wholesale/retail store located in the United Kingdom, and Mid-Continent Leather Sales, one store located in Oklahoma. Its common stock trades on the American Stock Exchange with the symbol "TLF".
This news release may contain forward-looking statements. All forward-looking statements made here or in other news releases issued by Tandy Leather Factory, Inc. are based on current expectations as of the date of the release. These forward-looking statements involve risks and uncertainties that could cause the results of Tandy Leather Factory, Inc. to differ materially from management’s current expectations. Many of these risks and uncertainties are detailed from time to time in TLF’s reports filed with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and the most recent quarterly report on Form 10-Q. Investors are reminded that past performance may not be predictive of future results.
Tandy Leather Factory, Inc.
Shannon L. Greene, 817-872-3200
sgreene@tandyleather.com
or
Magellan Fin, LLC
Mark Gilbert, 317-867-2839
MGilbert@MagellanFin.com
