In the company’s news Friday,
AeroGrow International, Inc. announced that it has elected two new members to its Board of Directors: Michael S. Barish and H. MacGregor (Greg) Clarke. The announcement follows the recent retirement of three AeroGrow Board members, Linda Graebner, Suresh Kumar, and Peter Michel, their terms having come to an end. The company has reduced the size of its Board to five members.
Both men bring years of unique experience to the company. In 1973, Mr. Barish founded Cambiar Investors and grew the firm’s assets from less than $1 million in 1973 to over $2.3 billion upon his retirement in 2001. In 2003, he co-founded the private investment partnership Lazarus Investment and served as the fund’s Chief Investment Officer until his retirement in June 2009. Mr. Barish will serve on the Audit and Governance committees.
Mr. Clarke has served as CFO of AeroGrow since May 2008. Prior to AeroGrow, Mr. Clarke was CEO (and previously CFO) of Ankmar, LLC, a private equity-owned, nationwide garage door manufacturer, distributor and installer. In his tenure, he restructured the company’s operations and managed the sale of Ankmar to strategic buyers. Previously, he served as an operating group CFO, Vice President, and General Manager for Johns Manville Corporation, a $2.2 billion building materials subsidiary of Berkshire Hathaway Inc. Mr. Clarke also served as Vice President, Corporate Treasurer and International Division CFO for The Coleman Company, Inc. Prior to Coleman, Mr. Clarke was with PepsiCo, Inc. for over nine years and served in a range of financial roles, including Director and Corporate Strategic Planning, where he led strategy and planning for the worldwide beverage sector.
Jack Walker, AeroGrow’s Chairman of the Board, stated, “Over the past year Greg has made significant contributions to AeroGrow’s ability to recapitalize and survive the economic downturn.”
He added, “Mike Barish has been instrumental in helping the Company source critically needed capital at key inflection points throughout its development, and his long history analyzing and investing in microcap companies, including AeroGrow, will prove valuable in many ways. Adding their combined skills to AeroGrow’s Board of Directors will be critical to our turnaround efforts.”
AeroGrow’s current board is made up of Jack Walker, Chairman, Jerry Perkins, President and CEO, Michael Dingman, Jr., Michael Barish, and Greg Clarke, CFO. Michael Dingman serves as Chairman of the Audit Committee and Jack Walker as the Chairman of the Governance Committee.
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