PRO Group Chairman of the Board Announces Retirement

Richard Paige to Retire December 31, 2010

Denver, Colorado, (July 7, 2010) – PRO Group Chairman, Richard Paige, announced that he will retire from PRO Group on December 31, 2010, after 21 years of service.

He will continue to serve as Managing Member/CEO of two PRO-affiliated companies, PRO Group Distribution, operating in the grocery industry, and PGM Integrated, a full-service advertising agency.

Paige has spent 38 years in the hardware industry. He joined PRO Group in 1989 as senior vice president of marketing and operations, then progressed to president, CEO and, finally to his current position.

Reflecting on his 21 years of service, the chairman says that one of the fundamental business tenets he adhered to throughout his career is: “To build a sustainable company it is important to hire people with character, intelligence, enthusiasm and maturity—everything else is teachable.” Paige went on to say, “This is especially important in a service business where the staff typically becomes a key competitive advantage.”

According to Steve Synnott, CEO of PRO Group, Paige leaves a large legacy to fill. “We wish Richard a fulfilling retirement, but know that he will be sorely missed,” says Synnott. “He’s made a remarkable impact in PRO Group’s growth and scope. We’re thrilled that he will remain a vital part of our affiliate companies.”

Gary Cosgrave, a member of the PRO Group founding family and owner of PRO Group, will replace Paige as chairman of the board on January 1, 2011.

During Paige’s tenure, PRO Group has grown to represent more than $3 billion in annual buying power through PRO Hardware, GardenMaster, and FARM MART Member distributors.

Paige says that throughout the last 21 years, many things about PRO Group changed for the better, while others stayed the same—for the better.  “Two things that have not changed over the 21 years are a group of loyal distributor members who work very well together, and a board of directors who make decisions based upon the greater good of all PRO Group Member distributors,” he says. “Those two things can never be taken for granted because they are critical to the Group’s success.”

Paige said, “I am very grateful to have had the opportunity to spend 38 years in the hardware industry developing many long-term relationships with people whom I respect for their integrity, values and vision.”

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Richard Paige, Chairman of the Board, PRO Group, Inc.

Headquartered in Denver, PRO Group, Inc., www.pro-group.com, is a merchandising and marketing organization with purchasing power exceeding $3 billion through its 40 Member Distributors.

Note to media: Digital photographs are available upon request from Elissa Motley of PRO Group, Inc. elissa.motley@pro-group.com  

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