WOONSOCKET - Juvenile health, safety and wellness product maker Summer Infant Inc. has separated the positions of CEO and chairman of the board of directors, naming Dan Almagor as chairman.
Almagor, who has been an independent, non-executive member of the company’s board since November 2009, will take over as chairman from company CEO Jason Macari, who will stay on the board.
“We are separating the chairman and CEO positions to further strengthen our corporate governance in a manner consistent with board best practices, and I am delighted to have been appointed as chairman,” Almagor said in prepared remarks.
According to a company release, Almagor has significant experience as a chairman, CEO and board member for public and private companies. His particular expertise is in financial and strategic business development.
“Dan’s leadership skills and successful experience on numerous boards will be a great asset to Summer Infant,” said Macari in a statement. “Dan and I have developed an excellent working relationship since he joined the board, and I have the highest level of respect for his integrity and his dedication to the company.
“Together with Dan and the board, we are focused on returning Summer Infant to sustained growth and profitability,” added Macari. “We plan to create long-term shareholder value by launching innovative products, building our brands, leveraging customer relationships, expanding our footprint and executing operational excellence.”
Almagor is 59 and an adviser and private investor. He recently served on the board of directors at JAKKS Pacific, where he was chairman of the audit committee, chairman of the governance and nominating committee, and a member of the compensation committee.
From 1999 to 2005 Almagor was the chairman and CEO of ACG International. Prior to that, he was chairman and CEO for ID B.V. and president and CEO for Kushi Foods.