Speidel Restructures, Names New President

September 1, 2000

Speidel Restructures, Names New President

Speidel Inc. named Jeffrey R. Massotti its new president of U.S. operations as part of a global restructuring. Massotti, who has been with Speidel for eight years, says the company plans to continue its core watch bracelet business and expand to target a younger consumer group. Watch bracelets with various new materials and colors as well as I.D. bracelets will be seen as the company prepares for the fall and 2001. Retailers will see no changes among the existing 37 sales representatives nationwide.

Robert Hirsch, who until recently was president of Speidel, will return to the corporate headquarters in Klagunfurt, Austria, as president of overseas operations for parent firm Hirsch Bracelet AG. Last year Speidel halted most production at its downtown Providence, RI, location and moved manufacturing to other locations overseas. Speidel expects to move in January to its new U.S. headquarters in East Providence, where an addition is being build onto an existing Speidel building. Its former headquarters in Providence will be retained as a real estate investment.

- by Michael Thompson