Ski & Co. Terminates Christopher J. Lencheski Appoints Rick Isaacson Chair

CENTER VALLEY, Pa., Aug. 1 /Xpress Press/ -- SKI & Company today announced the termination for cause and effective immediately of its founder, Christopher J. Lencheski, as President and CEO. SKI & Company and its parent, 600 Management, have also commenced a lawsuit against Mr. Lencheski for misappropriation, breach of fiduciary duty, and breach of contract. The suit alleges that Mr. Lencheski's purchase of the Quad City Mallards franchise in the International Hockey League breached his fiduciary and contractual obligations, including a non-competition agreement, and that Mr. Lencheski misappropriated company assets in making that purchase.

SKI & Company also today announced the appointment of H. Richard Isaacson as Chairman of SKI & Company with immediate effect. In consultation with Mr. Isaacson, the Board of 600 Management will also be conducting a strategic review of all aspects of SKI & Co. business activities.

Rick Isaacson, who joined IMG in its infancy in 1968, founded IMG Licensing in the 1980s, growing it to become the largest independent celebrity, trademark and event licensing company in the world. In a broader capacity, over a tenure of 40 years at IMG, Rick played a key role in the development and evolution of IMG's client management, business development, sports and leisure consulting, and sports promotion businesses.

SKI & Company (R) is a diversified, worldwide management and marketing enterprise in sports, entertainment, and media. SKI & Company is focused on the development of content, sponsor affiliation and activation, and business development in these industries. The company operates on a global platform from its offices in New York, London and Bethlehem, Pennsylvania. The company offers a diverse portfolio of services through the integrated group of companies that comprise the SKI & Company family.

Caption:
Ski & Company LLC; 600 Management LLC; 600 Management Holdings LLC
v.
Chistopher Lencheski

Date commenced;
7/31/2009

Docket number:
09-602353

Court: Supreme Court of the State of New York, New York County

Media Contact:
Carole Coleman: 347-675-2561

Source: Ski & Company LLC

This release was issued through The Xpress Press News Service, merging e-mail and satellite distribution technologies to reach business analysts and media outlets worldwide. For more information, visit http://www.XpressPress.com