Louis Mancini, Brookstone Inc.’s president and CEO and a member of the company’s board, will step down from all of these positions on March 4. Mancini joined Brookstone in 2006 after serving as CEO of Murray's Discount Auto Stores, Inc.
Following Mancini's departure, Philip W. Roizin will serve as interim president and CEO and as a director of the company. Roizin has served as Brookstone's executive VP of finance and administration since December 1996. Before joining Brookstone, Roizin was the CFO of The Franklin Mint. He previously held various senior positions with Dole Food Company, and served as a consultant for Bain & Co.
Separately, Jackson Tai has been appointed as chairman of Brookstone’s board. Tai succeeds Ron Sim who will remain as a director. Tai has been a director of the company since August 2008. He was vice chairman and CEO of DBS Group Holdings until 2008. Prior to his eight years of service with DBS in Singapore, Tai served 25 years with J.P. Morgan & Co. as a managing director in the Investment Banking Division.
Mr. Sim, who served as Brookstone Chairman since the 2005 acquisition of the Company by OSIM International Ltd, JW Childs Associates, LP, and Temasek Holdings Limited, said he would devote himself to the challenges and opportunities in Asia. Mr. Sim is founder, Chairman and CEO of OSIM International.
"A search is underway for a permanent CEO, and Philip [Roizin] is a candidate for the position," Sim said in a statement.
"Everyone at Brookstone is deeply committed to product excellence and the first-rate service our customers have come to expect from us," said Roizin. "While we are proud of our strong Brookstone brand, we recognize that present conditions do not permit us the luxury of resting on our past accomplishments. We must ensure that we are nimble and competitive in providing our customers with innovative products and quality service."
Brookstone markets a variety of specialty lifestyle products through its catalog, Web site and retail stores.
