Exhibit 99.1
For Immediate Release
|
August 16, 2010 |
Crown Crafts, Inc. Announces Certified Results of Votes Cast at Annual Meeting
| • | Company Welcomes Melvin L. Keating and Jon C. Biro to the Board | ||
| • | William T. Deyo, Jr. and Frederick G. Wasserman Thanked for Their Service on the Board |
Gonzales, Louisiana — Crown Crafts, Inc. (NASDAQ-CM: CRWS) today announced that its independent
inspector of elections, IVS Associates, Inc., has certified the voting results of the Company’s
Annual Meeting of Stockholders held on August 10, 2010.
A total of four seats on the Company’s Board of Directors were submitted to a vote of shareholders
at the Annual Meeting — three to hold office for a three-year term (the Class I Directors) and one
for a two-year term (the Class II Director). A total of five individuals were nominated for the
Class I Director seats. The Board nominated E. Randall Chestnut, Chairman, President and Chief
Executive Officer of the Company, along with existing Director William T. Deyo, Jr. and new nominee
Richard L. Solar, for the three Class I Director seats, while a shareholder of the Company,
Wynnefield Partners Small Cap Value L.P. and certain of its affiliates (Wynnefield), nominated
Melvin L. Keating and Jon C. Biro. The Company also nominated Sidney Kirschner for the Class II
Director seat. Kirschner was not opposed.
Certified Voting Results
According to the certified voting results, Chestnut, Keating and Biro were elected as Class I
Directors and Kirschner was elected to the Class II Director seat.
“We would like to welcome Mr. Keating and Mr. Biro to the Board, and we look forward to working
constructively with them to continue to increase value for all of our shareholders,” Chestnut said.
“We also extend our appreciation to Mr. Deyo and Frederick G. Wasserman for their years of service
on our Board and to Mr. Solar for consenting to his nomination to the Board.”
| 916 S. Burnside Avenue * PO Box 1028 * Gonzales, LA 70707-1028 * (225) 647-9100 * Fax (225) 647-9104 |