(By Balaseshan) Kid Brands Inc. (NYSE:KID), which develops infant and juvenile branded products, said it has appointed Kerry Carr as Executive Vice President and Chief Operating Officer, effective immediately.
Carr served in various senior level executive positions with Avon Products Inc. (NYSE:AVP) from 2003 to April 2012. Prior thereto, she worked with AT&T (NYSE:T) and served in various capacities at The Walt Disney Co. (NYSE:DIS).
Carr and the company executed an employment agreement dated as of September 12, 2012. Kid Brands agreed to grant Carr stock appreciation rights having an aggregate grant date fair value of not less than $500,000.
The company also named Renee Pepys Lowe President of Kids Line LLC and CoCaLo Inc., its subsidiaries which comprise its Soft Home group, effective immediately. Lowe founded CoCaLo and served as its President from its acquisition by Kid Brands in April 2008 until August 2010, and prior to that since its inception in 1998.
Lowe and the company executed an employment agreement dated as of September 12, 2012. The Company agreed to grant Lowe stock appreciation rights having an aggregate grant date fair value of not less than $300,000.
Kid Brands also announced the resignation of David Sabin as President of Kids Line and CoCaLo to explore other opportunities. Sabin held the position of President of Kids Line since January 2010 and CoCaLo since September 2010.
KID is trading up 2.65% at $1.16 on Wednesday. The stock has been trading between $0.95 and $3.97 for the past 52 weeks.