Ace Hardware Elects Three New Board Members, Re-elects One Member

Ace Hardware Elects Three New Board Members, Re-elects One Member

Ziegler Succeeds Glenn as Chairman of the Board at Annual Shareholders Meeting

June 06, 2008 // Franchising.com // OAK BROOK, Ill. – Ace Hardware Corporation, the largest retailer-owned hardware cooperative in the industry, elected three new directors and re-elected one director to its board of directors during an annual shareholders meeting on June 3 at its Oak Brook, Ill., headquarters. Ace retailers Jim Ackroyd and Gina Schaefer were elected to their first terms, and Jeff Schulein, also an Ace store owner, was re-elected to the board for his third and final term. Jeffrey Girard was elected to his first term as the board's second nonmember (outside) director, currently.

A total of 12 individuals, including 10 retailers and two outside directors, comprise the board of directors, which sets strategic policy and direction for Ace management. In addition, Ace retailer and board member David Ziegler succeeded Tom Glenn as chairman of Ace's board of directors. Glenn had completed his maximum term on the board, according to the company's by-laws.

"It has been an honor serving on Ace's board of directors and I'm extremely excited to have David as our new chairman," said Glenn. "We have a broad array of retail representation and expertise on the board to serve our Ace retailer entrepreneurs. We look forward to the contributions of the new members, with David at the helm as chairman."

Chairman of the Board

David Ziegler, 52, was an Ace board member for seven years before this appointment. He served as chairman of the Compensation and Human Resources committee. Ziegler is vice president and co-owner of Ziegler's Ace Hardware, a 10-store chain in the northwest suburbs of Chicago that opened its first store in the 1930s. He holds a Bachelor of Science degree in business administration from Drake University and is a certified public accountant.

During his remarks at the shareholders meeting, Ziegler said, "We have an incredibly rich heritage at Ace serving our customers for more than 80 years. Our retailer entrepreneurs lead the convenience segment of the home improvement industry, and we are looking forward to continuing to build the Ace brand and provide the best service to our customers."

New Board Members

Elected to his first three-year term, Jim Ackroyd, 52, is the chief executive officer of Vision Ace Hardware LLC, an 11-store chain with stores throughout southwest Florida. He is a certified public accountant and holds an accounting degree from Bentley College in Waltham, Mass.

Gina Schaefer, 37, owns and manages Logan Hardware, the parent store of a five-store Ace Hardware chain in the Washington, D.C. and Baltimore areas. Schaefer won numerous business and entrepreneur awards, is heavily involved in community activities and is active in several Ace organizations including the Progressive Ace Leaders. She holds a Bachelor of Arts degree from Wittenberg University in Springfield, Ohio.

Jeffrey Girard, 60, owns and manages Beam Dynamics, Inc., a private business that manufactures precision metal components and testing equipment used in scientific research. He is the retired Vice Chairman, Finance and Administration of Shopko Stores Inc., and from April until November 2002, he served as CEO of Shopko. Prior to that time, Girard held various executive management positions at Girard, Inc., SuperValu Inc. and Supermarkets General Corp. He also is currently a member of the board of directors of Winn Dixie Stores, Inc. He holds a Bachelor of Arts degree from Michigan State University and a Master of Business Administration from Columbia University Graduate School of Business.

Re-elected Board Member Elected to his third three-year term, Jeff Schulein, 66, serves on the Compensation and Human Resources and Retail Supply Chain committees. He is CEO of Crown Hardware, Inc., a 16-store Ace Hardware chain in southern California and Arizona. He attended California State University Long Beach.

About Ace Hardware

Throughout its 84-year history, Ace Hardware has been known as the helpful hardware store by both customers and communities. With 4,600 hardware, home center and building materials stores that generate annual retail sales of more than $12 billion, Ace Hardware is the largest retailer-owned hardware cooperative in the industry.

Headquartered in Oak Brook, Ill., Ace currently operates 14 distribution centers in the U.S. and its retailers' stores are located in all 50 states and 60 countries. More information about Ace can be found at www.acehardware.com.

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