Industry News

Orange 21 Appoints Merchant Banker as Chairman

Surfersvillage Global Surf News, 27 August, 2008 : - - Orange 21 Inc. said its board of directors appointed A. Stone Douglass chairman Aug. 20. Douglass joined the board on Aug. 7 and is an experienced merchant banker and business management consultant.

He has more than 30 years of experience in finance and managing public and private companies, including acting as director and/or interim CEO of more than 20 companies. He is a managing director of Compass Partners, L.L.C., a merchant bank specializing in restructuring activities.

"We look forward to working with Stone as we continue our turnaround efforts," said Orange 21 CEO Mark Simo. "His extensive experience working with companies in trying economic environments will be a significant asset to the company."

John Pound, a member of the board who recently stepped down as its co-chairman, commented, "I'm delighted that Stone has agreed to bring his broad experience to this position as we continually strive to build shareholder value."

On Aug. 20, the board reappointed the company's executive officers, effective as of that date. Mark Simo was reappointed as the CEO, Jerry Collazo was reappointed as the CFO and secretary, and Barry Buchholtz was reappointed as president, Italian operations.

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