BATESVILLE, Ind., Jan. 21 /PRNewswire-FirstCall/ -- Batesville Holdings, Inc., a wholly owned subsidiary of Hillenbrand Industries, Inc. (NYSE: HB), in conjunction with Hillenbrand's plans to separate its funeral services and medical technologies businesses, today announced the appointment of Cynthia L. Lucchese as senior vice president and chief financial officer for Batesville Holdings, Inc.
Batesville Holdings, Inc., is the present Batesville Casket Company's funeral services division of Hillenbrand Industries and will be renamed Hillenbrand, Inc., after the separation. Lucchese will assume leadership for all aspects of the future public company's accounting, external reporting, tax, financial planning, budgeting, treasury and investor relations.
Lucchese has extensive public company, executive and financial management experience. She most recently served as senior vice president and chief financial officer of Thoratec Corporation. Prior to joining Thoratec, she spent more than a decade with Guidant Corporation in a variety of senior financial management roles, including vice president and treasurer, corporate controller and chief accounting officer, and vice president of finance and administration for the Guidant Sales Corporation. She also spent seven years with Eli Lilly and Company and several years with the audit division of Ernst & Young. Lucchese holds a bachelor of science degree with distinction in accounting and a master's of business administration in finance from the Indiana University Kelley School of Business.
"Cindy brings senior-level experience with leading publicly traded companies and we are delighted to have someone of her caliber join our team," said Kenneth A. Camp, president and chief executive officer of Batesville Casket Company. "She will be a key leader in setting up and structuring our new company, as well as in the development and implementation of our future strategies. In addition, her considerable experience with the Guidant split- off from Eli Lilly will be invaluable as we complete our separation from Hillenbrand Industries."
"I am thrilled to work with such an experienced and talented management team at this important juncture in the company's history," Lucchese said. "The company is a leader in the funeral services industry and has a strong reputation for exceptional customer service, high-quality products and award- winning operational excellence. Moving forward, I believe we have a great opportunity to leverage our core competencies and strategically expand the business to build shareholder value as a separate publicly traded company."
ABOUT HILLENBRAND INDUSTRIES, INC.
Hillenbrand Industries is organized into two operating companies serving the health care and funeral services industries.
Hill-Rom is a leading worldwide manufacturer and provider of medical technologies and related services for the health care industry, including patient support systems, non-invasive therapeutic products for a variety of acute and chronic medical conditions, medical equipment rentals, and information technology solutions. Hill-Rom's comprehensive product and service offerings are used by health care providers across the health care continuum in hospitals, extended care facilities and home care settings to enhance the safety and quality of patient care.
Hill-Rom ... enhancing outcomes for patients and their caregivers.
Batesville Casket Company is a leader in the North American death care industry through the sale of funeral services products, including burial caskets, cremation caskets, containers and urns, selection room display fixturing and other personalization and memorialization products.
Batesville Casket Company ... helping families honor the lives of those they love.
Disclosure Regarding Forward-Looking Statements
Certain statements in this press release contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the Company's future plans, objectives, beliefs, expectations, representations and projections. The Company has tried, wherever possible, to identify these forward-looking statements using words such as "intend," "anticipate," "believe," "plan," "encourage," "expect," "may," "goal," "become," "pursue," "estimate," "strategy," "will," "projection," "forecast," "continue," "accelerate," "promise," "increase," "higher," "lower," "reduce," "improve," "expand," "progress," "potential" or the negative of those terms or other variations of them or by comparable terminology. The absence of such terms, however, does not mean that the statement is not forward-looking. It is important to note that forward- looking statements are not guarantees of future performance, and the Company's actual results could differ materially from those set forth in any forward- looking statements. Factors that could cause actual results to differ from forward-looking statements include but are not limited to: the Company's dependence on its relationships with several large national providers and group purchasing organizations, changes in death rates, whether the Company's new products are successful in the marketplace, changes in customers' Medicare reimbursements, collections of accounts receivable, compliance with FDA regulations, antitrust litigation, potential exposure to product liability or other claims, failure of the Company's announced strategic initiatives and restructuring and realignment activities to achieve expected growth, efficiencies or cost reductions, disruptions in the Company's business or other adverse consequences resulting from the planned separation of the Company's two operating companies, failure of the Company to execute its acquisition and business alliance strategy through the consummation and successful integration of acquisitions or entry into joint ventures or other business alliances, competition from nontraditional sources in the funeral services business, volatility of the Company's investment portfolio, increased costs or unavailability of raw materials, labor disruptions, the ability to retain executive officers and other key personnel, and certain tax-related matters. For a more in depth discussion of these and other factors that could cause actual results to differ from those contained in forward-looking statements, see the discussions under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the period ended September 30, 2007 and in Amendment 1 to the Batesville Holdings, Inc., Form 10. The Company assumes no obligation to update or revise any forward-looking statements.
|SOURCE Hillenbrand Industries, Inc.|
Copyright©2008 PR Newswire.
All rights reserved