American Greetings Corporation, Inc. is the world's largest publicly-traded greeting card company. It is based in Brooklyn, Ohio[3] and sells paper greeting cards, electronic greeting cards, party products (such as wrapping papers and decorations), and electronic expressive content (e.g., ringtones and images for cellphones). In addition to the American Greetings brand, the company owns the Carlton Cards, Tender Thoughts and Gibson brands of greeting cards.
American Greetings is also famous for their toy design and licensing division, Those Characters From Cleveland (now American Greetings Properties). The most-popular copyrighted properties owned by this division include Strawberry Shortcake, the Care Bears, The Get-Along Gang and Holly Hobbie. American Greetings also holds an exclusive license for Nickelodeon characters.
American Greetings Corporation (American Greetings) is engaged in the design, manufacture and sale of everyday and seasonal greeting cards and other social expression products. Greeting cards, gift wrap, party goods, stationery and giftware are manufactured or sold by the Company in North America, including the United States, Canada and Mexico, and throughout the world, primarily in the United Kingdom, Australia and New Zealand. In addition, its subsidiary, AG Interactive, Inc., distributes social expression products, including electronic greetings, physical products incorporating consumer photos, and a range of graphics and digital services and products, through a variety of electronic channels, including Websites, Internet portals, instant messaging services and electronic mobile devices. Design licensing is done primarily by its subsidiary AGC, LLC, and character licensing is done primarily by its subsidiaries, Those Characters From Cleveland, Inc. and Cloudco, Inc. American Greetings A.G. Industries, Inc. (doing business as AGI In-Store) subsidiary manufactures custom display fixtures for its products and products of others. At February 28, 2010, the Company operated in four business segments: North American Social Expression Products, International Social Expression Products, AG Interactive and non-reportable operating segments. Net sales to its five largest customers, which include mass merchandisers and national drug store and supermarket chains, accounted for approximately 39% of total revenue during the fiscal year ended February 28, 2010 (fiscal 2010). Net sales to Wal-Mart Stores, Inc. and its subsidiaries accounted for approximately 14% of total revenue in fiscal 2010.
American Greetings creates, manufactures and/or distributes social expression products including greeting cards, gift wrap, party goods, and stationery, as well as custom display fixtures. Its major domestic greeting card brands are American Greetings, Recycled Paper, Papyrus, Carlton Cards, Gibson, Tender Thoughts and Just For You. Its other domestic products include DesignWare party goods, Plus Mark gift wrap and boxed cards, and AGI In-Store display fixtures. Electronic greetings and other digital content, services and products are available through its subsidiary, AG Interactive, Inc. Its major Internet brands are AmericanGreetings.com, BlueMountain.com, Egreetings.com, Kiwee.com, PhotoWorks.com and Webshots.com. Through its Webshots and PhotoWorks sites, its AG Interactive business also operates an online photo sharing space and provides consumers the ability to use their own photos to create physical products, including greeting cards, calendars, online photo albums and photo books. It also creates and licenses its intellectual properties, such as the Care Bears and Strawberry Shortcake characters.
The Company distributes its products primarily through mass retail, which is comprised of mass merchandisers, discount retailers, chain drug stores and supermarkets. Other major channels of distribution included card and gift retail stores, department stores, military post exchanges, variety stores and combo stores (stores combining food, general merchandise and drug items). From time to time, it also sells its products to independent, third-party distributors. Its AG Interactive segment provides social expression content through the Internet and wireless platforms.
The Company competes with Hallmark Cards, Inc., Shutterfly, Kodak EasyShare Gallery, Yahoo!, AOL, Google, Tiny Prints, Minted, Picaboo and Blurb.
During the 1990s net sales grew from $1.29 billion to $2.21 billion. While the fiscal 1999 results marked the company's 93rd consecutive year of increasing revenue, this streak came to an end the next year when sales fell 1.5 percent. About $100 million in revenues was lost that year because the company slowed shipments to retailers in order to implement a new inventory system that shortened the amount of time necessary to design, produce, and ship cards, thereby allowing the ongoing inventory to be reduced. Furthermore, greeting card sales had been flat for some time, and the Internet was providing consumers with plenty of alternative communication methods. Of course, American Greetings itself was involved online, but the AmericanGreetings.com venture had yet to show a profit. In June 1999 the company announced plans to take its online unit public, but the early 2000 tech stock meltdown forced the initial public offering to be withdrawn. Meantime, revenues came under further pressure from another price war, this one initiated in March 1999 by Hallmark, which introduced a new line of 99-cent cards. Forced to respond, American began selling more inexpensive cards at deep-discount outlets.
In March 2000 American Greetings won a long-sought-after prize, acquiring Gibson Greetings for $163 million in cash. The purchase price was much lower than the offer that had been spurned in 1996 because in the meantime Gibson's stock had plummeted as a series of setbacks reduced the company's U.S. market share to about 6 percent. Among other problems, Gibson had been forced to abandon manufacturing, and some of the firms that had been contracted as outsourcers had been unable to handle Gibson's massive orders. In addition to the Gibson card line, American also gained Gibson's fairly strong subsidiary in the United Kingdom, making American that nation's greeting card leader, as well as the company's 27 percent stake in Egreetings Network Inc., an online greeting card company.
In June 2000 Fruchtenbaum was fired from his position as president and COO after other company officials learned that he had violated the company's insider trading policy in December 1998 when he exercised options on some 30,000 shares of American Greetings stock and then sold them, just before the company made its announcement about the new inventory system (the projected drop in earnings sent the company's stock down by 32 percent on the day the news was released). Fruchtenbaum, who was alleged to have avoided nearly $500,000 in stock losses as a result of his actions, was later sued by the Securities and Exchange Commission for insider trading; he reached a deal with the commission in July 2003, agreeing to pay back nearly $80,000 of his gains plus more than $267,000 in fines and court costs.
Following Fruchtenbaum's departure, James C. Spira, a management consultant who was a longtime American Greetings adviser and a member of the board of directors since 1998, was named vice-chairman. His role soon became a pivotal one when he was charged with overseeing a massive restructuring that was announced in November 2000. American was forced to take drastic measures because of a host of factors: the stagnant retailing climate, fewer and more powerful retailers thanks to retail sector consolidation, increasing competition from lower-priced cards, and the negative effects of the Internet on greeting card sales. The company said that it would cut 1,500 jobs from the workforce, shutter six manufacturing and distribution centers, eliminate one of its four main U.S. card brands--Forget-Me-Not, and slash the number of different greeting cards it offered from 15,000 to 10,000. American also would begin to shift to scan-based trading systems with selected retailers. In the company's traditional system, it would record a sale when a retailer stocked a card on its shelf; in the new system, a card on a retailer's shelf would be kept on American's books as inventory, and it would only be when a card was scanned at the register that American would record a sale. Through the new system, American hoped to gain greater control over inventory, although the shift would be an expensive one. Overall, the restructuring would cost the company more than $300 million, and it sent the company deep into the red for both fiscal 2001 and 2002.
As the restructuring was being implemented in 2001, American Greetings made two Internet-related acquisitions. The company acquired the shares of Egreetings Network it did not already own for about $28 million, and it also purchased another online greeting card company, BlueMountain.com, from At Home Corporation for $35 million. American now operated four online greeting card sites (the fourth being BeatGreets.com, which offered musical greetings); combined, the sites were drawing 100 million visitors per year. However, American's Internet ventures were still operating at a loss, although the loss for fiscal 2002 was much smaller than that of the previous year.
During fiscal 2003 American Greetings suspended its dividend payments in order to free up more cash and pay down its $950 million in debt. Having generated $90 million in savings through the restructuring, American returned to the black that year with a profit of $121.1 million. In June 2003, a few months after this encouraging news was released, a major shift in the executive suite was effected. Morry Weiss named his sons, both of whom had joined the company about a decade earlier, to the firm's top posts--Zev Weiss became CEO and Jeffrey Weiss, president and COO. Spira retired but retained a seat on the board, still headed by Morry Weiss. Continuing the momentum that appeared to have been established during fiscal 2003 was the challenge facing the new leaders.
Principal Subsidiaries: AGC Inc.; A.G. Industries, Inc.; AmericanGreetings.com, Inc. (92%); Carlton Cards Retail, Inc.; Gibson Greetings, Inc.; John Sands (Australia) Ltd. (U.S.A.); Learning Horizons, Inc.; Magnivision, Inc.; Plus Mark, Inc.; Those Characters From Cleveland, Inc.; The Ink Group PTY Ltd. (Australia); Carlton Cards (Canada) Limited; Carlton Cards Ltd. (Ireland); Memory Lane SDN BHD (Malaysia; 85%); Carlton Mexico, S.A. de C.V.; The Ink Group NZ Ltd. (New Zealand); John Sands (N.Z.) Ltd. (New Zealand); S.A. Greetings Corporation (PTY) Ltd. (South Africa); Camden Graphics Group (U.K.); Carlton Cards (United Kingdom) Limited; Gibson Greetings International Limited (U.K.); Hanson White Ltd. (U.K.); The Ink Group Publishers Ltd. (U.K.).
Principal Competitors: Hallmark Cards, Inc.; Taylor Corporation; CSS Industries, Inc.; Amscan Holdings, Inc.; Factory Card & Party Outlet Corp.; Party City Corporation.
OVERALL
Beta: 1.94
Market Cap (Mil.): $882.16
Shares Outstanding (Mil.): 40.14
Annual Dividend: 0.60
Yield (%): 2.53
FINANCIALS
AM Industry Sector
P/E (TTM): 10.70 32.49 20.61
EPS (TTM): 389.10 -- --
ROI: 7.94 39.05 8.01
ROE: 13.67 59.76 14.38
Key Dates:
1906: Jacob Sapirstein begins a card wholesaling business in Cleveland, calling it Sapirstein Greeting Card Company.
1929: The company becomes the first in the industry to use self-serve display cabinets for its greeting cards.
1932: The firm begins manufacturing its own line of greeting cards.
1938: The name of the company is changed to American Greetings Publishers.
1939: The first line of Forget-Me-Not cards is launched.
1944: The company is incorporated as American Greeting Publishers, Inc.
1949: The first overseas licensing deal is reached, with John Sands Pty. Ltd. of Australia.
1952: The company goes public as American Greetings Corporation.
1958: A Canadian subsidiary, Carlton Cards, Ltd., is established.
1967: Holly Hobbie first appears on a greeting card; the popularity of the character leads American Greetings into character licensing.
1970: The Soft Touch line of cards debuts.
1971: American Greetings establishes a retail subsidiary.
1978: Two new subsidiaries are formed: Plus Mark, Inc., maker of gift wrap, boxed cards, and accessories; and A.G. Industries, Inc., the nation's largest maker of display fixtures.
1980: Strawberry Shortcake character debuts.
1981: The company launches its first national television advertising campaign.
1983: The Care Bears characters are introduced.
1993: Magnivision, maker of reading glasses, is acquired.
1995: An 80 percent stake in S.A. Greetings Corporation of South Africa is acquired.
1996: John Sands, leading greeting card company in both Australia and New Zealand, is acquired; a party goods line is relaunched under the name DesignWare; the company enters the e-commerce realm with launch of a company web site.
1997: A line of candles is relaunched as GuildHouse; Learning Horizons, Inc. is created as a subsidiary specializing in supplemental educational products.
2000: Gibson Greetings, Inc. is acquired for $163 million; the company launches a major restructuring.
Statistics:
Public Company
Incorporated: 1944 as American Greeting Publishers, Inc.
Employees: 32,600
Sales: $1.99 billion (2003)
Stock Exchanges: New York
Ticker Symbol: AM
NAIC: 511191 Greeting Card Publishers; 322215 Nonfolding Sanitary Food Container Manufacturing; 322222 Coated and Laminated Paper Manufacturing; 322233 Stationery, Tablet, and Related Product Manufacturing; 322291 Sanitary Paper Product Manufacturing; 339115 Ophthalmic Goods Manufacturing; 339950 Sign Manufacturing; 339999 All Other Miscellaneous Manufacturing; 453220 Gift, Novelty, and Souvenir Stores; 516110 Internet Publishing and Broadcasting; 533110 Lessors of Nonfinancial Intangible Assets (Except Copyrighted Works)
Name Age Since Current Position
Weiss, Morry 70 2003 Chairman of the Board
Weiss, Zev 43 2003 Chief Executive Officer, Director
Weiss, Jeffrey 46 2003 President, Chief Operating Officer, Director
Smith, Stephen 46 2006 Chief Financial Officer, Senior Vice President
Mandelbaum, Josef 43 2005 Chief Executive Officer - AG Intellectual Properties
Rommel, Douglas 54 2010 Senior Vice President, Chief Information Officer
Kilbane, Catherine 47 2003 Senior Vice President, General Counsel, Secretary
Beeder, John 50 2008 Senior Vice President - Executive Sales and Marketing Officer
McGrath, Brian 59 2006 Senior Vice President - Human Resources
Weiss, Erwin 61 2007 Senior Vice President - Enterprise Resource Planning
Goulder, Michael 50 Senior Vice President, Executive Supply Chain Officer
Johnston, Thomas 62 2004 Senior Vice President - Creative and Merchandising; President of Carlton Cards Retail Inc.
Swellie, Robert 58 2008 Senior Vice President - Wal-Mart Team; President of Carlton Card Limited (Canada)
Cipollone, Joseph 51 2005 Vice President, Corporate Controller
Cowen, Scott 64 1989 Director
Thornton, Jerry 63 2000 Director
Ratner, Charles 69 2000 Director
Merriman, Michael 54 2006 Director
Dunn, Jeffrey 55 2007 Director
MacDonald, William 64 2007 Director
Address:
One American Road
Cleveland, Ohio 44144-2398
U.S.A.
American Greetings is also famous for their toy design and licensing division, Those Characters From Cleveland (now American Greetings Properties). The most-popular copyrighted properties owned by this division include Strawberry Shortcake, the Care Bears, The Get-Along Gang and Holly Hobbie. American Greetings also holds an exclusive license for Nickelodeon characters.
American Greetings Corporation (American Greetings) is engaged in the design, manufacture and sale of everyday and seasonal greeting cards and other social expression products. Greeting cards, gift wrap, party goods, stationery and giftware are manufactured or sold by the Company in North America, including the United States, Canada and Mexico, and throughout the world, primarily in the United Kingdom, Australia and New Zealand. In addition, its subsidiary, AG Interactive, Inc., distributes social expression products, including electronic greetings, physical products incorporating consumer photos, and a range of graphics and digital services and products, through a variety of electronic channels, including Websites, Internet portals, instant messaging services and electronic mobile devices. Design licensing is done primarily by its subsidiary AGC, LLC, and character licensing is done primarily by its subsidiaries, Those Characters From Cleveland, Inc. and Cloudco, Inc. American Greetings A.G. Industries, Inc. (doing business as AGI In-Store) subsidiary manufactures custom display fixtures for its products and products of others. At February 28, 2010, the Company operated in four business segments: North American Social Expression Products, International Social Expression Products, AG Interactive and non-reportable operating segments. Net sales to its five largest customers, which include mass merchandisers and national drug store and supermarket chains, accounted for approximately 39% of total revenue during the fiscal year ended February 28, 2010 (fiscal 2010). Net sales to Wal-Mart Stores, Inc. and its subsidiaries accounted for approximately 14% of total revenue in fiscal 2010.
American Greetings creates, manufactures and/or distributes social expression products including greeting cards, gift wrap, party goods, and stationery, as well as custom display fixtures. Its major domestic greeting card brands are American Greetings, Recycled Paper, Papyrus, Carlton Cards, Gibson, Tender Thoughts and Just For You. Its other domestic products include DesignWare party goods, Plus Mark gift wrap and boxed cards, and AGI In-Store display fixtures. Electronic greetings and other digital content, services and products are available through its subsidiary, AG Interactive, Inc. Its major Internet brands are AmericanGreetings.com, BlueMountain.com, Egreetings.com, Kiwee.com, PhotoWorks.com and Webshots.com. Through its Webshots and PhotoWorks sites, its AG Interactive business also operates an online photo sharing space and provides consumers the ability to use their own photos to create physical products, including greeting cards, calendars, online photo albums and photo books. It also creates and licenses its intellectual properties, such as the Care Bears and Strawberry Shortcake characters.
The Company distributes its products primarily through mass retail, which is comprised of mass merchandisers, discount retailers, chain drug stores and supermarkets. Other major channels of distribution included card and gift retail stores, department stores, military post exchanges, variety stores and combo stores (stores combining food, general merchandise and drug items). From time to time, it also sells its products to independent, third-party distributors. Its AG Interactive segment provides social expression content through the Internet and wireless platforms.
The Company competes with Hallmark Cards, Inc., Shutterfly, Kodak EasyShare Gallery, Yahoo!, AOL, Google, Tiny Prints, Minted, Picaboo and Blurb.
During the 1990s net sales grew from $1.29 billion to $2.21 billion. While the fiscal 1999 results marked the company's 93rd consecutive year of increasing revenue, this streak came to an end the next year when sales fell 1.5 percent. About $100 million in revenues was lost that year because the company slowed shipments to retailers in order to implement a new inventory system that shortened the amount of time necessary to design, produce, and ship cards, thereby allowing the ongoing inventory to be reduced. Furthermore, greeting card sales had been flat for some time, and the Internet was providing consumers with plenty of alternative communication methods. Of course, American Greetings itself was involved online, but the AmericanGreetings.com venture had yet to show a profit. In June 1999 the company announced plans to take its online unit public, but the early 2000 tech stock meltdown forced the initial public offering to be withdrawn. Meantime, revenues came under further pressure from another price war, this one initiated in March 1999 by Hallmark, which introduced a new line of 99-cent cards. Forced to respond, American began selling more inexpensive cards at deep-discount outlets.
In March 2000 American Greetings won a long-sought-after prize, acquiring Gibson Greetings for $163 million in cash. The purchase price was much lower than the offer that had been spurned in 1996 because in the meantime Gibson's stock had plummeted as a series of setbacks reduced the company's U.S. market share to about 6 percent. Among other problems, Gibson had been forced to abandon manufacturing, and some of the firms that had been contracted as outsourcers had been unable to handle Gibson's massive orders. In addition to the Gibson card line, American also gained Gibson's fairly strong subsidiary in the United Kingdom, making American that nation's greeting card leader, as well as the company's 27 percent stake in Egreetings Network Inc., an online greeting card company.
In June 2000 Fruchtenbaum was fired from his position as president and COO after other company officials learned that he had violated the company's insider trading policy in December 1998 when he exercised options on some 30,000 shares of American Greetings stock and then sold them, just before the company made its announcement about the new inventory system (the projected drop in earnings sent the company's stock down by 32 percent on the day the news was released). Fruchtenbaum, who was alleged to have avoided nearly $500,000 in stock losses as a result of his actions, was later sued by the Securities and Exchange Commission for insider trading; he reached a deal with the commission in July 2003, agreeing to pay back nearly $80,000 of his gains plus more than $267,000 in fines and court costs.
Following Fruchtenbaum's departure, James C. Spira, a management consultant who was a longtime American Greetings adviser and a member of the board of directors since 1998, was named vice-chairman. His role soon became a pivotal one when he was charged with overseeing a massive restructuring that was announced in November 2000. American was forced to take drastic measures because of a host of factors: the stagnant retailing climate, fewer and more powerful retailers thanks to retail sector consolidation, increasing competition from lower-priced cards, and the negative effects of the Internet on greeting card sales. The company said that it would cut 1,500 jobs from the workforce, shutter six manufacturing and distribution centers, eliminate one of its four main U.S. card brands--Forget-Me-Not, and slash the number of different greeting cards it offered from 15,000 to 10,000. American also would begin to shift to scan-based trading systems with selected retailers. In the company's traditional system, it would record a sale when a retailer stocked a card on its shelf; in the new system, a card on a retailer's shelf would be kept on American's books as inventory, and it would only be when a card was scanned at the register that American would record a sale. Through the new system, American hoped to gain greater control over inventory, although the shift would be an expensive one. Overall, the restructuring would cost the company more than $300 million, and it sent the company deep into the red for both fiscal 2001 and 2002.
As the restructuring was being implemented in 2001, American Greetings made two Internet-related acquisitions. The company acquired the shares of Egreetings Network it did not already own for about $28 million, and it also purchased another online greeting card company, BlueMountain.com, from At Home Corporation for $35 million. American now operated four online greeting card sites (the fourth being BeatGreets.com, which offered musical greetings); combined, the sites were drawing 100 million visitors per year. However, American's Internet ventures were still operating at a loss, although the loss for fiscal 2002 was much smaller than that of the previous year.
During fiscal 2003 American Greetings suspended its dividend payments in order to free up more cash and pay down its $950 million in debt. Having generated $90 million in savings through the restructuring, American returned to the black that year with a profit of $121.1 million. In June 2003, a few months after this encouraging news was released, a major shift in the executive suite was effected. Morry Weiss named his sons, both of whom had joined the company about a decade earlier, to the firm's top posts--Zev Weiss became CEO and Jeffrey Weiss, president and COO. Spira retired but retained a seat on the board, still headed by Morry Weiss. Continuing the momentum that appeared to have been established during fiscal 2003 was the challenge facing the new leaders.
Principal Subsidiaries: AGC Inc.; A.G. Industries, Inc.; AmericanGreetings.com, Inc. (92%); Carlton Cards Retail, Inc.; Gibson Greetings, Inc.; John Sands (Australia) Ltd. (U.S.A.); Learning Horizons, Inc.; Magnivision, Inc.; Plus Mark, Inc.; Those Characters From Cleveland, Inc.; The Ink Group PTY Ltd. (Australia); Carlton Cards (Canada) Limited; Carlton Cards Ltd. (Ireland); Memory Lane SDN BHD (Malaysia; 85%); Carlton Mexico, S.A. de C.V.; The Ink Group NZ Ltd. (New Zealand); John Sands (N.Z.) Ltd. (New Zealand); S.A. Greetings Corporation (PTY) Ltd. (South Africa); Camden Graphics Group (U.K.); Carlton Cards (United Kingdom) Limited; Gibson Greetings International Limited (U.K.); Hanson White Ltd. (U.K.); The Ink Group Publishers Ltd. (U.K.).
Principal Competitors: Hallmark Cards, Inc.; Taylor Corporation; CSS Industries, Inc.; Amscan Holdings, Inc.; Factory Card & Party Outlet Corp.; Party City Corporation.
OVERALL
Beta: 1.94
Market Cap (Mil.): $882.16
Shares Outstanding (Mil.): 40.14
Annual Dividend: 0.60
Yield (%): 2.53
FINANCIALS
AM Industry Sector
P/E (TTM): 10.70 32.49 20.61
EPS (TTM): 389.10 -- --
ROI: 7.94 39.05 8.01
ROE: 13.67 59.76 14.38
Key Dates:
1906: Jacob Sapirstein begins a card wholesaling business in Cleveland, calling it Sapirstein Greeting Card Company.
1929: The company becomes the first in the industry to use self-serve display cabinets for its greeting cards.
1932: The firm begins manufacturing its own line of greeting cards.
1938: The name of the company is changed to American Greetings Publishers.
1939: The first line of Forget-Me-Not cards is launched.
1944: The company is incorporated as American Greeting Publishers, Inc.
1949: The first overseas licensing deal is reached, with John Sands Pty. Ltd. of Australia.
1952: The company goes public as American Greetings Corporation.
1958: A Canadian subsidiary, Carlton Cards, Ltd., is established.
1967: Holly Hobbie first appears on a greeting card; the popularity of the character leads American Greetings into character licensing.
1970: The Soft Touch line of cards debuts.
1971: American Greetings establishes a retail subsidiary.
1978: Two new subsidiaries are formed: Plus Mark, Inc., maker of gift wrap, boxed cards, and accessories; and A.G. Industries, Inc., the nation's largest maker of display fixtures.
1980: Strawberry Shortcake character debuts.
1981: The company launches its first national television advertising campaign.
1983: The Care Bears characters are introduced.
1993: Magnivision, maker of reading glasses, is acquired.
1995: An 80 percent stake in S.A. Greetings Corporation of South Africa is acquired.
1996: John Sands, leading greeting card company in both Australia and New Zealand, is acquired; a party goods line is relaunched under the name DesignWare; the company enters the e-commerce realm with launch of a company web site.
1997: A line of candles is relaunched as GuildHouse; Learning Horizons, Inc. is created as a subsidiary specializing in supplemental educational products.
2000: Gibson Greetings, Inc. is acquired for $163 million; the company launches a major restructuring.
Statistics:
Public Company
Incorporated: 1944 as American Greeting Publishers, Inc.
Employees: 32,600
Sales: $1.99 billion (2003)
Stock Exchanges: New York
Ticker Symbol: AM
NAIC: 511191 Greeting Card Publishers; 322215 Nonfolding Sanitary Food Container Manufacturing; 322222 Coated and Laminated Paper Manufacturing; 322233 Stationery, Tablet, and Related Product Manufacturing; 322291 Sanitary Paper Product Manufacturing; 339115 Ophthalmic Goods Manufacturing; 339950 Sign Manufacturing; 339999 All Other Miscellaneous Manufacturing; 453220 Gift, Novelty, and Souvenir Stores; 516110 Internet Publishing and Broadcasting; 533110 Lessors of Nonfinancial Intangible Assets (Except Copyrighted Works)
Name Age Since Current Position
Weiss, Morry 70 2003 Chairman of the Board
Weiss, Zev 43 2003 Chief Executive Officer, Director
Weiss, Jeffrey 46 2003 President, Chief Operating Officer, Director
Smith, Stephen 46 2006 Chief Financial Officer, Senior Vice President
Mandelbaum, Josef 43 2005 Chief Executive Officer - AG Intellectual Properties
Rommel, Douglas 54 2010 Senior Vice President, Chief Information Officer
Kilbane, Catherine 47 2003 Senior Vice President, General Counsel, Secretary
Beeder, John 50 2008 Senior Vice President - Executive Sales and Marketing Officer
McGrath, Brian 59 2006 Senior Vice President - Human Resources
Weiss, Erwin 61 2007 Senior Vice President - Enterprise Resource Planning
Goulder, Michael 50 Senior Vice President, Executive Supply Chain Officer
Johnston, Thomas 62 2004 Senior Vice President - Creative and Merchandising; President of Carlton Cards Retail Inc.
Swellie, Robert 58 2008 Senior Vice President - Wal-Mart Team; President of Carlton Card Limited (Canada)
Cipollone, Joseph 51 2005 Vice President, Corporate Controller
Cowen, Scott 64 1989 Director
Thornton, Jerry 63 2000 Director
Ratner, Charles 69 2000 Director
Merriman, Michael 54 2006 Director
Dunn, Jeffrey 55 2007 Director
MacDonald, William 64 2007 Director
Address:
One American Road
Cleveland, Ohio 44144-2398
U.S.A.