Russ Berrie gets new CEO

Bruce Crain steps in as Andrew Gatto retires

-- Kids Today, 12/6/2007 8:22:00 AM

Bruce G. Crain has been appointed the new CEO, president and a member of the board of directors, for Russ Berrie. Crain is replacing Andrew R. Gatto, who has retired. Gatto will remain as a consultant with Russ Berrie for a transition period.

“We would like to thank Andy for the leadership and industry expertise he brought to Russ Berrie," said Michael Zimmerman, Chairman of Russ Berrie’s board of directors. "The board of directors and management team wish Andy the best as he retires from his distinguished industry career.” 

Zimmerman said, “We are excited that Bruce is joining Russ Berrie. We believe he will be an excellent leader as we embark on a new chapter in Russ Berrie’s ongoing business evolution that we anticipate will be marked by further growth for the Russ brand and continued expansion in the highly attractive infant and juvenile market.  Bruce has significant experience in building global businesses, capturing synergies and developing management teams.  He has specialized expertise in the gift, home furnishings and other consumer products sectors.  These leadership assets, together with Bruce’s proven track record of creating and managing a portfolio of brands, should serve to benefit all of Russ Berrie’s stakeholders.” 

Crain joined Russ Berrie following a 10-year career with the multi-channel home décor and gift products company, Blyth, Inc. Most recently he was the group president of Blyth’s wholesale group segment worldwide, a senior vice president and a member of the office of the chairman.  The wholesale group at Blyth had annualized sales of $682 million in fiscal 2006 across more than ten business units in both North America and Europe. Earlier in his career at Blyth, Crain was president of the European affiliates group as well as president of global services, where he was responsible for corporate marketing, research and development, manufacturing and global sourcing operations, and prior to that was in charge of Blyth’s PartyLite direct selling operations. Crain also has served as a consultant to Russ Berrie’s board of directors for most of 2007. 

“In the past few years, Russ Berrie has successfully strengthened its business by further penetrating the infant and juvenile sector and restructuring its gift business," Crain said. "I am very pleased to be joining Russ Berrie at this important juncture in its transformation, as the company is poised to continue building on its brand strength and multiple channels of distribution. In particular, I look forward to further developing the design-led market leadership positions of all three businesses in close partnership with their global suppliers and retailers. I am also pleased to join the Board as we continue identifying additional strategic opportunities and creating long-term value for the company’s shareholders.”