Young Innovations today announced that George Richmond, Chairman and Chief Executive Officer of the Company, has formalized his management transition plan with the Company's Board of Directors. Mr. Richmond requested to step down as Chief Executive Officer and recommended that Alfred E. Brennan, Jr.,
the Company's President and Chief Operating Officer, be elected to the additional post of Chief Executive Officer. The Board of Directors ratified the changes at its regularly scheduled Board Meeting on January 24th.
Mr. Richmond will remain actively involved as Chairman of the Board and the Company's largest shareholder controlling approximately 2.4 million shares. Mr. Richmond has been increasingly active in dental industry organizations, such as Oral Health America, where he serves as Treasurer and on the Executive Committee of the Board of Directors.
Commenting on the transition, Mr. Richmond said, "This change reflects my belief and confidence in the management team that has been put in place over the past five years. Our team has worked collectively to generate strong results for shareholders since going public in November of 1997. I am proud
of the performance of our management team and I look forward to the Company's continued success."
Young Innovations develops, manufactures and markets supplies and equipment used by dentists, dental hygienists and consumers. The Company believes it is the leading manufacturer of prophylaxis angles and cups (used in teeth cleaning and polishing procedures) and distributor of panoramic x-ray
equipment in the United States. The Company also offers a line of dental handpieces (drills), prophy pastes, fluorides, infection control products, orthodontic tools and brushes, flavored gloves used in the dental office as well as children's toothbrushes and toothpastes used for home care.
CONTACT: Alfred E. Brennan, CEO, COO, or Arthur L. Herbst, Jr., EVP & Chief Financial Officer, both of Young Innovations, +1-314-344-0010, Ext. 3133/