|
Mr. Emrich has more than 30 years of experience in the textile manufacturing industry. He is a seasoned executive with a track record of success in leading organizations through complex business situations. Most recently, Mr. Emrich served as President and Chief Executive Officer of Guilford Mills, Inc., a $1 billion global manufacturer of specialty fabrics.As President and CEO of Guilford Mills from 2000 to 2005, Mr. Emrich implemented a successful restructuring plan that transformed the Company from an apparel fabric manufacturer to a value-added automotive supplier. While leading the Company through the bankruptcy process in just six months, he re-positioned Guilford Mills up the value chain in the Automotive segment of the industry, expanding gross profit margin to 56%. As part of this restructuring, creditors were paid 100% on the dollar, retirees’ unqualified benefits remained intact, and shareholders were given 10% of new ownership; in addition, 100% of the Company’s customer base was maintained in the process. Ultimately, Mr. Emrich positioned the Company for sale and executed a transaction at a premium with Cerberus, returning 90% of the equity, and 118% of the value to the original lenders and shareholders.From 1995 to 2000 Mr. Emrich served as Chief Operating Officer and President of Guilford Mills, where he developed the Company’s technical textile business and product line. Earlier, Mr. Emrich held a number of senior operations and strategic planning roles, rising to Corporate Senior Vice President and President of the Automotive business unit of Guilford. In this role, he developed a strategic plan that reorganized the Company’s regional automotive businesses in the US, Europe and Japan into a single global platform. As a result, manufacturing, sales and product development were integrated, and the customer base expanded from reliance on two domestic OEMs to more than a dozen American and European automotive manufacturers. From 1971 to 1985, Mr. Emrich held several senior operations and management positions at BRW Textiles, serving as President, Executive Vice President and Director of Operations.Mr. Emrich received a Bachelor of Business Administration degree in Marketing from Pace University, and a Master of Business Administration degree from Adelphia University. He is an active industry leader, serving as past President of KTA (merged with National Textile Association), Vice President of National Textile Association, and Member of 3-M Advisory Council, and has been featured in print, radio and broadcast media as a leading industry spokesman. Past and current Board affiliations include Guilford Mills, Inc.; Tybor (Spain); North Carolina State Port Authority; and Co-Chair, American Manufacturing Trade Action Coalition. | 