Rayovac 2010 Annual Report Download - page 6

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BOARD OF DIRECTORS
David M. Maura* ²
Vice President and
Director of Investment,
Harbinger Capital Partners
Age 38; Director since 2010
Kenneth C. Ambrecht ², ³
Managing Partner,
KCA Associates LLC
Age 65; Director since 2009
Eugene I. Davis ¹, ²
Chairman and CEO,
Pirinate Consulting Group LLC
Age 55; Director since 2009
Virginia A. Kamsky ³
Chairman and CEO,
Kamsky Associates, Inc.
Age 57; Director since 2010
Marc S. Kirschner ¹, ³
Independent Business
Restructuring Consultant
Age 68; Director since 2009
David R. Lumley
Chief Executive Offi cer and
President – Global Batteries and
Personal Care and Home and Garden
Spectrum Brands Holdings, Inc.
Age 56; Director since 2010
Non-GAAP Measurements
Within this annual report, reference is made to adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and free cash fl ow. These non-GAAP metrics are reconciled
to their nearest GAAP equivalents within the Company’s Periodic Report on Form 8-K fi led with the SEC on December 6, 2010 within Exhibit 99.1 thereto. Adjusted EBITDA is a metric used
by management and frequently used by the fi nancial community which provides insight into an organization’s operating trends and facilitates comparisons between peer companies, since
interest, taxes, depreciation and amortization can differ greatly between organizations as a result of differing capital structures and tax strategies. Adjusted EBITDA can also be a useful
measure of a company’s ability to service debt and is one of the measures used for determining the Company’s debt covenant compliance. Adjusted EBITDA excludes certain items that
are unusual in nature or not comparable from period to period. The Company’s management believes that free cash fl ow is useful to both management and investors in their analysis of the
Company’s ability to service and repay its debt and meet its working capital requirements. Free cash fl ow should not be considered in isolation or as a substitute for pretax income (loss), net
income (loss), cash provided by (used in) operating activities or other statement of operations or cash fl ow statement data prepared in accordance with GAAP or as a measure of profi tability
or liquidity. In addition, the calculation of free cash fl ow does not refl ect cash used to service debt and, therefore, does not refl ect funds available for investment or discretionary uses. While
the Company’s management believes that non-GAAP measurements are useful supplemental information, such adjusted results are not intended to replace the Company’s GAAP fi nancial
results and should be read in conjunction with those GAAP results.
DIRECTORS AND OFFICERS
Norman S. Matthews ³
Independent Business Consultant
Age 78; Director since 2009
Terry L. Polistina
President, Small Appliances,
Spectrum Brands Holdings, Inc.
Age 47; Director since 2009
Robin Roger ³
Managing Director and General
Counsel, Harbinger Capital Partners
Age 53; Director since 2010
Hugh R. Rovit ¹
Chief Executive Offi cer,
Sure Fit, Inc.
Age 50; Director since 2009
*Interim Chairman of the Board
COMMITTEES OF THE BOARD
¹ Audit Committee
Mr. Davis is Chair.
² Compensation Committee
Mr. Ambrecht is Chair.
³ Nominating and Corporate
Governance Committee
Mr. Matthews is Chair.
EXECUTIVE OFFICERS
David R. Lumley
Chief Executive Offi cer and
President – Global Batteries and
Personal Care and Home and Garden
Age 56; joined Company in 2005
Anthony L. Genito
Executive Vice President
and Chief Financial Offi cer
Age 54; joined Company in 2004
John A. Heil
President, Global Pet Supplies
Age 58; joined Company in 2005
Terry L. Polistina
President, Small Appliances
Age 47; joined Company in 2010
John R. Wilson
Senior Vice President,
Secretary and General Counsel
Age 36; joined Company in 2005
As of January 25, 2011