Stamford, Conn., December 1, 2005 - - Esselte Group Holdings AB
today announced the departure of President and CEO Magnus Nicolin and
named Gary Brooks, currently president of its U.S. filing division, as
his successor.
Nicolin was named President and CEO in July 2002 upon the purchase of
Esselte by J.W. Childs Associates, L.P. He successfully led the
company’s restructuring efforts while achieving growth in the DYMO
division and completing the acquisition of the rapidly growing Xyron
business. Following the successful divestment of DYMO in November 2005
and the need for Esselte to focus on further operational improvements,
Nicolin has elected to leave the company to invest his energy in other
ventures.
Brooks, President of Esselte's Filing Americas division since March
2005, will continue to run the North American filing business. Prior to
joining Esselte, Brooks spent 15 years with Wiremold Company where he
ran several business units before becoming President and CEO in 2002.
"We are very fortunate to have an executive of Gary's character and
experience within Esselte to step into the role of president and CEO,"
said Art Byrne, Executive Chairman of Esselte.
"We have a very exciting opportunity at Esselte with a great team of
employees, exciting new products and solid prospects for growth," added
Brooks.
About Esselte
Esselte, with executive offices in Stamford,
Conn., USA, is a leading global office supplies manufacturer with annual
sales of approximately USD 1 billion, subsidiaries in 33 countries and
approximately 5,000 employees worldwide. The company develops innovative
solutions that simplify the modern home and workplace. Esselte sells
more than 30,000 different office products in over 120 countries; its
principal brands include Esselte, Leitz, Oxford, Pendaflex and Xyron.
More information about Esselte can be found by visiting www.esselte.com
