Board Appoints M. Lenny Pippin Chairman of the Board and Jeffrey L.
Wright, CFO, as Executive Vice President and Director
Conference Call at 10 a.m. CDT Today
G&K Services, Inc. (NASDAQ:GKSR), announced today that the
board of directors has appointed Douglas A. Milroy to succeed Richard L.
Marcantonio, effective immediately. In his new role, Milroy will serve
as chief executive officer and as a director. The board appointed M.
Lenny Pippin to replace Marcantonio as chairman of the board.
Marcantonio, who leaves G&K to pursue other opportunities, has also
resigned from the company’s board of directors.
Pippin stated, “On behalf of the board, I extend our thanks to Rick. We
appreciate Rick’s nearly seven years of service to G&K. During his
tenure, he managed the transition of G&K to a larger, more innovative
company and introduced segmented marketing programs to our customers. He
built a management team with the depth, executive skills and experience
necessary to lead this company into the future. The board and Rick have
agreed that this is the right time for a fresh leadership perspective.”
Pippin continued, “The board is pleased to have Doug serve as chief
executive officer. Doug enters the role with a proven track record of
leading large teams and businesses for more than 20 years. Doug has the
ability to deliver results and has solid experience working in both
international and domestic markets.”
Milroy, 50, has served as president, direct purchase and business
development for G&K Services since November 2006. Prior to G&K, Milroy
was the vice president and general manager, food and beverage North
America and water care, for Ecolab, Inc. He has held senior positions
with FMC Corporation and McKinsey & Company. Milroy holds a bachelor’s
degree in mechanical engineering from the University of Minnesota, and
received an M.B.A. from the Harvard Business School. Milroy serves on
the board of directors of JSJ Corporation, a privately-held company that
actively designs, develops, markets, and brands a group of durable goods
and services throughout the world.
“I’m honored by the board’s confidence, I’m excited by this opportunity
and I’m well-prepared to lead G&K Services,” said Milroy. “G&K has a
talented and experienced management team, a solid financial base and a
strong foundation for growth. We employ approximately 9,000 people who
are committed to excellence in serving our customers.
