Tuesday July 12, 2006
LaPolla Board of Directors Appoint New Officers for Coming Year
Incumbent Board of Directors Re-Elected
HOUSTON, TX, July 12 /PRNewswire-FirstCall/ -- LaPolla Industries, Inc. ("LaPolla" or the "Company") (Amex: LPA - News), today announced the re-election of the incumbent slate of directors at the Annual Meeting of Stockholders and appointment of new officers for the coming year.
Richard J. Kurtz, Chairman of the Board stated, "Our new direction has gained incredible momentum. During the course of our realignment, we have created a stronger team capable of addressing the growing acrylic coating and foam markets as well as the perimeter wall foam markets on a national basis. I am very pleased to have the extensive sales, operational, and financial management experience shared among LaPolla’s executive management team and its employees.”
Mr. Kurtz went on to say, “LaPolla is committed to attracting the best management talent and expertise available and to positioning our existing leaders where they can have the greatest impact as we work toward our goal to be the leader in our industry in coating and foam lines. These appointments reflect that commitment in action.”
The Company’s returning four member Board of Directors, re-elected for 2006-2007, include:
Richard J. Kurtz, Chairman: Mr. Kurtz is chief executive officer of the Kamson Corporation, a privately held, owner and operator of investment properties in the Northeastern U.S., headquartered in Englewood Cliffs, NJ. He has been a member of the board of directors of LaPolla since November 1998.
Lt. Gen. Arthur J. Gregg, US Army (Ret.), Director: Lt. Gen. Gregg has more than fifty-six years of military and business experience leading to success new businesses and turn around situations. He has been a member of the board of directors of LaPolla since February 2000.
Gilbert M. Cohen, Director: Mr. Cohen has more than forty-one years experience in business and financial management, most notably as co-founder, chief financial officer, and treasurer of the Kamson Corporation. He has been a member of the board of directors of LaPolla since November 2004.
Michael T. Adams, Director: Mr. Adams has more than ten years experience with LaPolla and its former subsidiaries, employed in various officer and executive positions, most recently serving as interim chief executive officer since January 2005. Mr. Adams has been a member of the board of directors of LaPolla since December 2004.
The Board elected and confirmed the appointments of the following officers of LaPolla Industries, Inc.:
Douglas J. Kramer, Chief Executive Officer and President: Mr. Kramer joined the Company in February 2005 as president and chief operating officer and was named Chief Executive Officer and President in July 2006. Prior to joining LaPolla, Mr. Kramer worked with Foam Enterprises, Inc., a wholly-owned subsidiary of the BASF Corporation, from 1997 to 2004. Mr. Kramer began his career with Foam Enterprises as western regional sales manager and concluded his employment there prior to joining LaPolla as vice president of construction products. Mr. Kramer has a background in Liberal Arts from Penn State University and the University of Texas.
John A. Campbell, Chief Financial Officer and Treasurer: Mr. Campbell joined the Company in September 2005 as controller and was named Chief Financial Officer and Treasurer in February 2006. He was chief financial officer of JEMS Geriatric Services, Inc. from 2003 to 2005 and served as controller for Sharps Compliance Corporation from 2001 to 2003. Mr. Campbell has a bachelor of science degree in accounting from Stephen F. Austin University and a master of science degree in business administration from the University of Phoenix.
Michael T. Adams, Chief Governance Officer, Executive Vice President, and Secretary: Mr. Adams was appointed interim chief executive officer in January 2005 and was named Chief Governance Officer, Executive Vice President, and Secretary in July 2006. During his more than ten years with LaPolla, Mr. Adams has served as president from 2003 to 2005, executive vice president and corporate secretary from 1999 to 2003, and has held various officer positions in the Company’s former subsidiaries since he first joined the Company in 1997. Mr. Adams has a bachelor of science degree in business administration, a master of science degree in business administration, and a juris doctor degree from Nova Southeastern University.
About LaPolla Industries, Inc.
LaPolla Industries, Inc. is a national manufacturer and distributor focused on several basic segments: Coatings, Foam, Paints, Sealants, Adhesives, Equipment, and All Other. Within these business segments, LaPolla has invested resources in a variety of products targeting commercial and industrial and residential applications in the roofing, construction and paint industries. For more information on LaPolla visit www.lapollaindustries.com.
For more information, financial analysts, investors and press only:
Suzanne M. McLeod
Director of Investor Relations
(281) 219-4700 (t)
(281) 219-4701 (f)
Douglas J. Kramer, CEO
John A. Campbell, CFO
Michael T. Adams, CGO
(281) 219-4700 (t)
(281) 219-4701 (f)