Dec 15, 2010

Tervis Announces Reorganization to Manage Large Growth

Venice, FL – In light of sustained double-digit growth over the past five years, Tervis Tumbler Company has established an Executive Office of the President and added Barry Wolfson as President and CEO. Laura Spencer, the current president and CEO, was named Chief Financial Officer. Wayne Varnadore was promoted to Chief Operating Officer from Vice President of Operations, and Rich Kaplan was promoted to Chief Sales & Marketing Officer from Vice President of Sales and Marketing. The announcement came from Norbert Donelly, Chairman.

Both Wolfson and Spencer will also be on the private company’s Board of Directors.

“Tervis has the opportunity to become a dominant consumer brand nationally. This change to an Executive Office of the President gives us the leadership talent we need to continue our strong success,” according to Donelly.

“It will also allow Laura to focus on what she has done so well these past few years, maintaining the company’s financial strength to continue its remarkable growth,” Donelly added.

Wolfson, 61, has worked very closely with Tervis for the past six years as a consultant and has played a key role in the company’s successful growth. He joins the company fulltime. Prior to his consulting, he was President and CEO of Flexible Products Company, Marietta, GA. a $100M global manufacturer of specialty chemical products with both industrial and consumer brands.

Since 2000 Tervis Tumbler Company has become known for its familiar consumer drinkware products sold in all 50 states. Its sales have grown 5-fold since 2000, expected to top $75 million this year. Recently, the company started construction on a 35,000 sq.ft. expansion to its North Venice manufacturing facility, which opened in 2005.

A factor contributing to its growth has been license agreements entered into by the company to use the logos of teams of major professional sports leagues and most colleges and universities.

Tervis Tumbler
Headquartered in North Venice, Florida, Tervis manufactures crystal-clear, insulated drinkware that is guaranteed for life. Since 1946, the unique, double-walled tumblers have kept cold drinks cold and hot drinks hot. Tervis is virtually unbreakable and made in the USA. They are sold in 6,000-plus retail outlets nationwide. For additional information about Tervis Tumbler, call 941.441.2310, email klivengood@tervis.com, or visit www.tervis.com.