Landice Announces New Management Structure And Prepares Company For The Next Fifty Years

Thursday, June 8, 2017 Corporate News
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RANDOLPH, N.J., June 8, 2017 /PRNewswire/ -- Landice, one of the top-rated treadmill, elliptical and bike manufacturers in

the world, announced today a significant change to its current management structure.

Greg Savettiere, whose engineering leadership helped establish Landice's foremost quality brand and grew the company over the

past 20 years, will step down as the President. Dave Rainis will assume the position of President and CEO. He will serve to further enhance Landice's legacy as a manufacturer of the finest fitness equipment on the market. He was previously Vice President of Landice and has been with the company since 1999.

"I am extremely proud to continue the tradition of running Landice as a family business based in New Jersey," said Dave Rainis. "I am excited to extend my role in the company and people I truly believe in. Landice has had a successful run under Greg Savettiere's tenure. I look forward to building upon that heritage and overseeing the company's continued progress and accomplishments for the next 50 years."

Landice is currently celebrating its 50th year in business. According to Rainis, Landice has received interest from various suitors over the years to potentially purchase the company. It was important to Rainis to maintain the family legacy, and, as such, he put together an entity to ensure continued ownership and majority stake in the company.

"This is a personal commitment I am making for the future of this business," Rainis said. "In addition to a financial deal, we have committed to expansion and improvement of our line of products. Along with our mainstay treadmill and ellipticals, we recently added a collection of upright and recumbent bikes. For our treadmills, we upgraded our technology and just rolled out our new 90 series for the L7/L8/L9 machines. Additionally, we have just introduced the L10, a new treadmill for the commercial market with a 5-horsepower AC drive."

In addition to the change of ownership, Landice has also promoted two key personnel. Carissa Saalfelder will become Vice President of Sales and Customer Service, and Charles Alchermes will become Vice President of Technical Service and Operations.

Landice is a Randolph, NJ-based manufacturer of high-end, specialty fitness equipment for residential and light commercial use. A family run business since 1967, Landice products have been consistently rated #1 by the "World's Leading Consumer Magazine" for over 15 consecutive years.

CONTACT: Michael Klausner, 888-346-4161, [email protected]

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/landice-announces-new-management-structure-and-prepares-company-for-the-next-fifty-years-300470660.html

SOURCE Landice



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