ONEIDA, N.Y., Oct. 16, 2006 (PRIMEZONE) -- Underscoring its momentum following court approval of its recapitalization, Oneida Ltd. announced today that Tim Runyan has joined the company as Executive Vice President and Chief Global Supply Chain Officer. Mr. Runyan will be based in Oneida's Hong Kong office and report to Oneida President James E. Joseph.
The hiring of Mr. Runyan, a highly experienced executive with first-hand knowledge of Asia, reflects the increasing global character of Oneida's operations and its drive to strengthen customer relationships and further improve operating efficiencies. Oneida today has a network of global suppliers in Asia, Europe and the Americas, supported by a global operations center in Oneida, New York.
"We are pleased to welcome Tim to Oneida," said Jim Joseph. "Oneida is becoming a truly global company, and Tim's experience in supply chain management, particularly quality engineering, will be of great value to the company. We are setting the stage for renewed growth, and strengthening Oneida's supply chain is a top priority. We expect customers and suppliers will see real benefits in terms of shorter product-development cycles and faster fulfillment."
Mr. Runyan has extensive experience in business and operations management consulting, supply chain optimization and business development, and has worked throughout Asia for more than twenty years. For the past eight years, he has managed offshore sourcing and distribution projects as a consultant to domestic firms in the consumer goods and apparel industries, frequently working in China and other locations in Asia. Prior to founding his consulting firm in 1998, he was the CEO and founder of United Forwarding, Inc., a freight forwarding, logistics and supply chain company based in Omaha, Nebraska.
"I am greatly looking forward to working at Oneida," said Runyan. "The company has positioned itself for growth by creating a new virtual manufacturing model. I'm looking forward to helping Oneida harvest the full potential of this system and continue its proud heritage of quality and customer service."
About Oneida
Incorporated in 1880, Oneida Ltd. is one of the world's largest design, sourcing and distribution companies for stainless steel and silverplated flatware for both the consumer and foodservice industries. It is also the largest supplier of dinnerware to the foodservice industry in North America. Additional information about Oneida can be found at www.oneida.com.
Note on Forward-Looking Statements
This press release includes forward-looking information and statements. These statements are based on current expectations, estimates and projections. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects," "believes," "estimates," "targets," "plans" or similar expressions. However, there are many risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release. For further information regarding risks and uncertainties associated with Oneida's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Oneida's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q.