Children's licensing and merchandising firm 4Kids Entertainment has announced several additions to its board.
Bruce R. Foster has been named Interim Chief Executive Officer, and has been appointed to the Board of Directors, while Director Jay Emmett becomes Chairman of the Board of Directors.
Foster will continue his role as CFO.
The news comes following Michael Goldstein's departure as the company’s Interim Chairman, Chairman of the Audit Committee, Board Member, and Member of the Nominating Committee.
"On behalf of 4Kids Entertainment, I want to thank Mr. Goldstein for his years of service to the 4Kids Board of Directors," said Jay Emmett. "We are very grateful to Michael for his leadership, guidance and the expertise he brought to our Board."
Emmett has been a 4Kids Board Member for over 12 years. He founded the Licensing Corporation of America, which represented Major League Baseball, National Basketball Association, National Hockey League, and the National Football League Players Association, as well as entertainment properties including Batman, Superman, and James Bond.
Foster joined 4Kids in 2002.
"I am excited about the opportunity to lead the company out of bankruptcy," he said.
"Working closely with the Board of Directors, I am focused on developing the underlying business strategy necessary to implement a plan of reorganisation. This new business plan creates a unique opportunity for the company."
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