For Immediate Release
LOS ANGELES - April 4, 2016 - Aaron Shelby, grandson of the company founder has joined the board of Carroll Shelby International, Inc., (OTC: CSBI.PK). In his new role, Mr. Shelby will work directly with Ford Motor Company and help expand CSI globally.
“Carroll Shelby International’s strong growth over the past four years requires another talented individual on the board to maintain our momentum,” said Neil Cummings , Co-CEO of Carroll Shelby International. “Joe Conway and I initially tapped Aaron to represent Shelby American at Ford Motor Company events upon Carroll’s death to demonstrate the company’s strong future. Since then, he’s helped strengthen our solid relationship with Ford. As we continue transforming Shelby into a multinational brand and corporation, we’ll continue adding the finest minds to help reach our objectives.”
Both an accomplished business person and auto enthusiast, Aaron Shelby is a native of Dallas, Texas. He is equally at home behind the wheel of his 2015 Ford Shelby GT350 as he is in the boardroom.
“Aaron Shelby is a great addition to the Carroll Shelby International board,” said Joe Conway , Co-CEO of Carroll Shelby International. “The timing is ideal because Aaron is joining us just as our plans to restructure, refine and refocus the Shelby entities are coming to fruition. Much like his grandfather, he’ll contribute great energy and fresh ideas, as well as solid experience to the company. We’re pleased that another Shelby family member is actively involved in the organization.”
Mr. Shelby earned a Bachelor of Science in Commerce - Finance degree from Santa Clara University and started his career as a credit analyst at Inwood National Bank in Dallas. He then moved on to operate his own business, Mr. Bracket. The automotive accessory company distributed products through aftermarket retailers.
After selling Mr. Bracket, Aaron Shelby joined LegacyTexas Bank. With his father Patrick as Chairman, he continued the family’s association with the bank. With the consummation of a merger in January 2015, with another local Dallas area bank LegacyTexas is now public (NASDAQ: LTXB) and Aaron’s role has evolved to be Executive Vice President over Commercial Lending and operating as the Subsidiary Manager overseeing LegacyTexas Insurance, LegacyTexas Title and the LegacyTexas Mortgage. In addition to banking, Aaron operates the Shelby family’s timber business in East Texas and sits on the Board of Directors for the Dallas Children’s Theater, Shelby Automotive Museum and Carroll Shelby Foundation.
“Joe Conway and Neil Cummings have done a great job positioning Carroll Shelby International for a bright future,” said Aaron Shelby. “I want to help continue that success by leveraging my business background, close industry relationships and dedication to our family heritage. This is an opportunity to build upon the legacy that my grandfather and his board earned over the past 50 years.”
About Shelby American, Inc. and Carroll Shelby Licensing
Shelby American (www.shelby.com), a subsidiary of Carroll Shelby International, Inc., manufactures high performance vehicles under the lineage of automotive manufacturing icon and entrepreneur Carroll Shelby. The company is involved in vehicle manufacturing, design and engineering projects under a license agreement with Carroll Shelby Licensing Inc.
Carroll Shelby founded his licensing company in 1988 and Carroll Shelby Licensing, Inc., is the exclusive holder of Shelby’s trademarks and vehicle design rights for all automotive products, which include some of the world’s most famous muscle cars and high- performance vehicles, including the car that brought home to the U.S. its first and only FIA World Manufacturers Championship in 1965, the famous Shelby Cobra Daytona Coupe. It also licenses Shelby-branded apparel, accessories and collectibles for all things automotive. For additional information, call (310) 914-1843, fax (310) 538-8189, write Carroll Shelby Licensing, Inc., 19021 S Figueroa St., Gardena, CA, 90248, or visit www.shelby.com.
Safe Harbor Statement
The statements contained in this press release that are not purely historical, including statements regarding the Company’s expectations, hopes, beliefs, intentions, or strategies regarding the future, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results may differ materially from those expected because of various known and unknown risks and uncertainties, including, but not limited to, the continuing effects of the U.S. recession and global credit environment, other changes in general economic and industry conditions, the award or loss of significant client assignments, timing of contracts, recruiting and new business solicitation efforts, currency fluctuations, and other factors affecting the financial health of our clients. These and other risks are described in the Company’s most recent annual report on Form 10-K and subsequent reports filed with or furnished to the U.S. Securities and Exchange Commission. The forward-looking statements included in this press release are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statements.