PETMED EXPRESS D/B/A 1-800-PetMeds® APPOINTS THREE INDEPENDENT DIRECTORS TO ITS BOARD
Pompano Beach, Florida, November 20, 2002 - PetMed Express, Inc. (OTCBB: PETS) today announced that it appointed three independent board members to its Board of Directors. Joining the PetMed Express Board are Robert C. Schweitzer, Ronald J. Korn, and Gian Fulgoni. Leaving the PetMed Express Board are Kenneth Jacobi and Huseyin Kizanlikli, two inside board members who vacated their seats to support the Company’s goal of creating a more independent Board of Directors. Additionally, the Company’s CEO, Mendo Akdag, was appointed to the Board of Directors, which brings the total number of directors to six.
“We wanted a Board of Directors with fewer insiders and more independence,” said PetMed Express CEO Mendo Akdag. “In searching for the most qualified candidates, we deliberately looked outside the Company for seasoned leaders with long records of accomplishment to bring more diversity to our Board of Directors. I would like to welcome our new board members to the Company.”
PetMed Express Inc.’s Independent Board of Directors:
Robert C. Schweitzer, age 56, has been the Regional President of Union Planters Bank for Broward and Palm Beach County Florida markets since April 1999. Prior to joining Union Planters, Mr. Schweitzer served as the Executive VP and Head of Commercial Banking for Barnett Bank/NationsBank in Jacksonville, Florida from 1993 to 1999. Other positions held include Director and Head of Real Estate Consulting for Coopers & Lybrand in Washington, D.C.; Senior VP and Manager of Central North America Real Estate for the First National Bank of Chicago, and Manager of Domestic Credit Process Review; Senior VP & Manager of Central North American Banking for Wachovia Bank. Mr. Schweitzer holds an MBA from the University of North Carolina, and a Bachelor of Science degree from the United States Naval Academy.
Ronald J. Korn, age 62, has been the President of Ronald Korn Consulting since 1991. He served as the Managing Partner of KPMG, LLP’s Miami office from 1985 to 1991. Mr. Korn held various positions including Partner with KPMG from 1961 until 1991. He has served as a Director and Chairman of the Audit Committee of Engle Homes, Inc. since 1992, and a Director, Chairman of the Audit Committee, and member of the Loan Committee of Horizon Bank, FSB since 1999. Mr. Korn previously served as a Director and Chairman of the Audit Committee of Vacation Break U.S.A., Inc. and Magicworks Entertainment Corporation, and Non-Executive Chairman of Carole Korn Interiors, Inc. He is an Associate Member of the American Institute of Certified Public Accountants. Mr. Korn holds a Juris Doctor degree from the New York University Law School and a Bachelor of Science degree in Economics from the University of Pennsylvania, Wharton School.
Gian Fulgoni, age 54, has been the Executive Chairman of ComScore Networks, Inc. since 1999. From 1981 until 1998, Mr. Fulgoni served as president and chief executive officer of Information Resources, Inc. (IRIC: NASDAQ). He was a member of our Board of Directors from August 1999 through November 2000. Mr. Fulgoni currently serves as a member of the Board of Directors of Easter Seals, Chicago. Mr. Fulgoni served on the Board of Directors of Platinum Technology, Inc. from 1990 to 1999, U.S. Robotics, Inc. from 1991 to 1994, and Yesmail.com, Inc. in 1999. Educated in the U.K., Mr. Fulgoni holds a Masters degree in Marketing from the University of Lancaster and a Bachelor of Science degree in Physics from the University of Manchester.
Founded in 1996, PetMed Express is America’s largest pet pharmacy, delivering prescription and non-prescription pet medications, and health and nutritional supplements at competitive prices through the PetMed Express catalog, customer service representatives, and on the Internet through its website at www.1800PetMeds.com.
This press release may contain “forward-looking” statements, as defined in the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission, that involve a number of risk and uncertainties, including the Company’s ability to meet the objectives included in its business plan. Important factors that could cause results to differ materially from those indicated by such “forward-looking” statements are set forth in Management’s Discussion and Analysis of Results of Financial Condition and Results of Operations in PetMed Express’ Annual Report on Form 10K for the year ended March 31, 2002.
For investment relations contact PetMed Express, Inc., Pompano Beach, Florida, Mendo Akdag, CEO, 954-979-5995.