Thirty-Year Industry Veteran Will Lead Etonic Into Next Growth Phase
WALTHAM, Mass., March 15, 2007 — Etonic Worldwide has chosen industry veteran Tom Elwell to be the company’s next CEO.
Elwell comes to Etonic with over 30 years of experience in the footwear and golf industries. As Mizuno USA’s vice president and general manager of the Athletic Division, Elwell is widely credited with having built Mizuno’s technical running business in North and South America to the third highest market share in its category. He oversees Mizuno’s technical running business as well as Mizuno’s South American business. Prior to his time at Mizuno, Elwell held senior positions at Brooks and adidas and spent 16 years at Etonic. Elwell started his career as a PGA golf professional.
Lotto Capital Investment, a unit of Italy-based Lotto Sport Italia, purchased Etonic in late 2006 from a group of private investors.
"Tom Elwell was our first choice to be the next CEO of Etonic," said Andrea Tomat, CEO of Lotto and Chairman of Etonic. "He is a proven brand builder with expertise in sales, product development, and marketing, which are our top priorities at Etonic. We believe he will make a valuable contribution to building the brand globally."
"I feel as though I am coming home to the brand, given my prior history at Etonic," said Elwell. "I am confident and enthusiastic about building the Etonic brand during its next phase of growth."
Etonic’s current CEO, Tom Seeman, was part of the ownership group which purchased Etonic from Spalding in 2003, turned the business around, and sold it to Lotto in late 2006. He will join Etonic’s Board of Directors.
Founded in 1876 by Charles Eaton and headquartered in Waltham, Massachusetts, Etonic builds footwear based on technical innovation, superior quality and ultimate comfort. Etonic offers men’s and women’s footwear and accessories for golf, bowling, running and walking. For information on Etonic call 1-866-8-ETONIC (386642) or log onto www.etonic.com.
Contact:
Jackie Beck, 860.304.3643, or jackiebeck00@hotmail.com.
