Ace Hardware Appoints New President Of International Division, Renews Southeast Asian Licenses

Ace Hardware Appoints New President Of International Division, Renews Southeast Asian Licenses

May 27, 2010 // // OAK BROOK, Ill. – Strengthening its reputation as a truly global "Helpful Place," Ace Hardware recently appointed a new president and general manager of Ace International to oversee worldwide growth initiatives. The announcement coincides with the renewal of two major licensing agreements in Southeast Asia that further reinforce the leading hardware cooperative's presence in Indonesia and Malaysia.

New President

Bob Moschorak joins Ace after holding senior leadership positions at several global companies. He previously served as managing director of Midas International in Madrid, chief operating officer of automotive retailer Aurgi in Spain, managing director of franchise development at Bally Total Fitness and vice president of the retail network at Serta International. Moschorak earned his MBA from UC Irvine and graduated from UC Berkeley with a degree in Economics. He will report to John Venhuizen, vice president of retail and business development.

In his new role as president and general manager of Ace International, Moschorak will oversee Ace Global Distribution (AGD) – the retail distribution arm for Ace International – as well as grow the Ace brand globally via retail development initiatives and various wholesale strategies. Reporting to Moschorak will be Pete Ting, who has been promoted to vice president, international finance; Angel Garcia, who has been promoted to vice president, international sales and merchandising; and Rob Collins, director, global supply chain.

"Ace is synonymous with quality products, competitive pricing and superior customer service worldwide," said Moschorak. "I'm committed to both strengthening our brand recognition in existing international markets and identifying other areas for strategic growth around the globe."

Southeast Asian Licenses

With franchise systems in Asia, Europe, the Middle East, and North, Central and South America, Ace Hardware has a retail presence in more than 50 countries. Southeast Asia has been an area of significant growth for the hardware cooperative, and it's making additional investments in this market with the renewal of licensing agreements in Indonesia and Malaysia.

PT Ace Hardware currently operates one of the largest home improvement chains in Indonesia, with 39 stores located throughout 18 cities and employing more than 5,000 workers. Initially established in 1995 and publicly traded as of 2007, PT Ace Hardware will retain the rights to develop the Ace brand in Indonesia until 2025. As part of its "Ace Vision 2010" program, the company will open five new stores throughout the remainder of the year.

Ace Hardware International's current license in Malaysia, originally signed in 1996 with Giant Ace SDN BHD, will now be extended to 2020. At least two additional stores will open in 2010, joining the 10 stores currently located in the Kuala Lumpur metropolitan area.

"Southeast Asia has proven to be a market of considerable growth potential, and we see opportunities for further expansion throughout Indonesia and Malaysia in the coming decade," said Ray Griffith, president and chief executive officer of Ace Hardware Corporation. "International development remains a top priority, and we will continue to work with potential investors and retailer partners around the globe to open new stores that uphold the quality, value and service for which Ace is globally recognized."

About Ace Hardware

For more than 85 years, Ace Hardware has been known as the helpful hardware store by both customers and communities. With 4,500 locally owned and operated hardware, home center and building materials stores, Ace is the largest hardware cooperative in the industry. Headquartered in Oak Brook, Ill., Ace currently operates 14 distribution centers in the U.S. and one in Shanghai, China, and its retailers' stores are located in all 50 states and more than 50 countries.



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