Checkpoint Systems, Inc. Appoints Jeff Richard Executive Vice President and Chief Financial Officer

  Checkpoint Systems, Inc. Appoints Jeff Richard Executive Vice President and
  Chief Financial Officer

Business Wire

THOROFARE, N.J. -- May 10, 2013

Checkpoint Systems, Inc. (NYSE: CKP) today announced the appointment of Jeff
Richard as Executive Vice President and Chief Financial Officer, effective May
28, 2013. Mr. Richard will replace Raymond D. Andrews who is retiring from
Checkpoint on July 31, 2013. Mr. Andrews will remain with the Company in the
interim to ensure an orderly transition of responsibilities.

Mr. Richard, age 45, has extensive financial leadership experience, most
recently serving as Executive Vice President and Chief Financial Officer at
Safety-Kleen Systems, Inc, a $1.5 billion environmental services company, from
2010 to 2013. At Safety-Kleen, Mr. Richard led a broad set of turnaround
initiatives to drive profitable, sustainable growth, which significantly
improved operational performance and equity value. He recapitalized the
company and led a dual-path liquidity IPO and sale plan that concluded with
the sale of Safety-Kleen to the company’s largest competitor in December 2012.

From 2006 to 2010, Mr. Richard served as Chief Operating Officer and Chief
Financial Officer at Pavestone Company, where he successfully guided the
company through the economic downturn and housing market collapse, focusing on
gaining market share and cost take-out, while building strong relationships
with customers, the banking and private equity community and vendors.
Previously, Mr. Richard was Vice President of Financial Planning & Analysis at
Electronic Data Systems Corp. and Chief Financial Officer and Vice President
of Americas Operations at Jacuzzi Brands, Inc. Earlier in his career he worked
in a variety of financial positions at Tyco International Ltd., ultimately
serving as Chief Financial Officer for Tyco’s $2.2 billion Plastics &
Adhesives segment, where he was responsible for all segment financial and
control functions including consolidation, financial reporting, tax, treasury
and investor relations. Mr. Richard has a bachelor’s degree in business
administration from Louisiana State University.

Checkpoint’s President and Chief Executive Officer, George Babich, said, “We
are delighted to have attracted Jeff to join the Checkpoint team and we
welcome him. He is a strong financial and operational executive with
outstanding leadership experience. His track record of revitalizing
businesses, positioning them for sustainable, profitable growth is impressive
and I look forward to working with him as we continue to identify
opportunities to increase shareholder value at Checkpoint.

“We sincerely thank Ray Andrews for his many contributions, particularly in
the past two years of intense organizational change and turnaround activity.
Ray has been a valuable member of Checkpoint’s leadership team since 2007, and
we extend best wishes for his retirement.”

George Babich, President and Chief Executive Officer, will host a conference
call to discuss the new appointment on Monday, May 13 at 11 a.m. Eastern Time,
which will be simultaneously broadcast over the Internet. Listeners may access
the call live at A replay will be available
following the event.

Checkpoint Systems, Inc.

Checkpoint Systems is a global leader in shrink management, merchandise
visibility and apparel labeling solutions. Checkpoint enables retailers and
their suppliers to reduce shrink, improve shelf availability and leverage
real-time data to achieve operational excellence. Checkpoint solutions are
built upon more than 40 years of RF technology expertise, diverse shrink
management offerings, a broad portfolio of apparel labeling solutions,
market-leading RFID applications, innovative high-theft solutions and its
Web-based Check-Net^® data management platform. As a result, Checkpoint
customers enjoy increased sales and profits by improving supply-chain
efficiencies, by facilitating on-demand label printing and by providing a
secure open-merchandising environment enhancing the consumer’s shopping
experience. For more information, visit

Forward-Looking Statement

This press release includes information that constitutes forward-looking
statements. Forward-looking statements often address our expected future
business and financial performance, and often contain words such as “expect,”
“anticipate,” “intend,” “plan,” “believe,” “seek,” or “will.” By their nature,
forward-looking statements address matters that are subject to risks and
uncertainties. Any such forward-looking statements may involve risk and
uncertainties that could cause actual results to differ materially from any
future results encompassed within the forward-looking statements. Factors that
could cause or contribute to such differences include: the impact upon
operations of legal compliance matters or internal controls review,
improvement and remediation, including the detection of wrongdoing, improper
activities, or circumvention of internal controls; our ability to integrate
acquisitions and to achieve our financial and operational goals for our
acquisitions; changes in international business conditions; foreign currency
exchange rate and interest rate fluctuations; lower than anticipated demand by
retailers and other customers for our products; slower commitments of retail
customers to chain-wide installations and/or source tagging adoption or
expansion; possible increases in per unit product manufacturing costs due to
less than full utilization of manufacturing capacity as a result of slowing
economic conditions or other factors; our ability to provide and market
innovative and cost-effective products; the development of new competitive
technologies; our ability to maintain our intellectual property; competitive
pricing pressures causing profit erosion; the availability and pricing of
component parts and raw materials; possible increases in the payment time for
receivables as a result of economic conditions or other market factors;
changes in regulations or standards applicable to our products; the ability to
successfully implement global cost reductions in operating expenses including,
field service, sales, and general and administrative expense, and our
manufacturing and supply chain operations without significantly impacting
revenue and profits; our ability to maintain effective internal control over
financial reporting; and additional matters disclosed in our Securities and
Exchange Commission filings. We do not undertake to update our forward-looking
statements, except as required by applicable securities laws.


Checkpoint Systems, Inc.
Annette Geraghty, 856-251-2174
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