New Balance Names Robert T. Demartini as Chief Executive Officer

Boston-based New Balance announced today that Robert T. DeMartini has been named the global athletic company’s chief executive officer. DeMartini has more than 22 years of experience in the consumer products industry, including The Procter & Gamble Company, The Gillette Company, and most recently as group vice president of Tyson Foods, Inc., Consumer Products Division.

“After 35 years of managing the company, we feel that it is time to introduce younger and more progressive management,” says Jim Davis, chairman of New Balance. “Rob brings broad experience, professional qualifications, and most importantly, a clear understanding of New Balance’s unique culture. We are confident that he will direct the company in attaining our aggressive business goals, while maintaining our corporate value system.”

At Procter & Gamble, DeMartini held numerous sales, marketing, and general management roles that included vice president of Sales and Distribution for Millstone Coffee, global sales leadership for the snack category, and finally as general manager of the North American snack business. As senior vice president and general manager at The Gillette Company, DeMartini ran the North American Blades and Razors and Personal Care operations, a $2.2 billion business. At Tyson Foods, Inc., DeMartini was responsible for overseeing all aspects of the company’s $6 billion consumer products business, including marketing, sales, and operations.

“I’m excited to join New Balance and contribute to the company’s very successful business,” says DeMartini. “I plan to continue the established focus on domestic manufacturing, deep commitment to serious runners, and strong appetite to grow the apparel business and other footwear brands. I also expect to continue the company’s active participation in the communities where it operates.”

A native Californian and graduate of San Diego State University with a bachelor of science degree in finance, DeMartini and his family reside in Swampscott, Massachusetts.

New Balance, headquartered in Boston, Massachusetts, is a privately-held leading manufacturer of technologically innovative width-sized performance footwear and athletic apparel for women, men, and children. The range of product categories includes running, walking, training, basketball, tennis, cleated, and kids. New Balance Athletic Shoe, Inc., employs more than 2,800 people around the globe and in 2006, reported worldwide sales of $1.55 billion. For more information please visit http://www.newbalance.com.