Industry News

Ace Hardware Re-elects Four Directors, Adds New Member at Annual Stockholders Meeting

Published on 2005-06-15. Author : SpecialChem

Oak Brook -- Ace Hardware retailers J. Thomas Glenn, Richard Baalmann, Jr., Richard Stine and Jeff Schulein were re-elected to retailer-owned cooperative Ace Hardware Corp.'s board of directors at the company's annual stockholders meeting held June 6 at its headquarters in Oak Brook, Ill.

Ace retailer John Patricia was elected to his first term. With his election, the number of board members increases to 12.

Glenn, Baalmann, Stine and Schulein will each serve three-year terms and Patricia will serve a two-year term on the board, which sets strategic policy and direction for Ace management.

Glenn, who also serves as chairman of the board, said, "We're proud of what we stand for and the overall integrity of the Ace cooperative. We have the economies of scale, the platform and the infrastructure to accelerate our efforts and further solidify our position in the industry."

Glenn, 46, is president of Ace Hardware of Chattanooga, a 13-store Ace chain with stores in Tennessee and Georgia. He will continue to represent retailers in the Southeast Region.

Baalmann, 45, is president of Bramm Inc. and related companies, which operate four Ace Hardware stores in the St. Louis area. He has served as president of Bramm Inc. since 1988. Baalmann will continue to represent retailers in the Midwest Region.

Stine, 60, is an owner of Stine Lumber Inc., a 10-store chain in Louisiana. He has been a member of the Stine Inc. board of directors for 28 years and United States Air Force Reserves advisory boards. He will serve his final three-year term representing retailers in the Southeast Region.

Schulein, 63, is chief executive officer of Crown Hardware, Inc., an 11-store Ace chain in Orange County, California. He will serve his second three-year term representing retailers in the Western Region.

Patricia, 55, owns Ace Hardware & Nursery in Payson, Ariz. He will serve a two-year term as a retailer-director at-large.

"We are pleased that Rick, Jeff and Dick will continue to serve on the Ace board of directors," Glenn said, "and we greatly welcome the addition and future contributions from John Patricia."

Ace Hardware Corp. is the largest retailer-owned hardware cooperative in the industry. Annual retail sales for Ace's 4,700 hardware, home center and lumber and building materials locations top $13 billion. Headquartered in Oak Brook, Ill., Ace currently operates 15 distribution centers in the United States and its retailers' stores are located in all 50 states and 70 countries.

Source: Ace Hardware Corp.

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