Lionel Quality Electric Trains
Lionel President Announces Retirement
07/16/2002

Press Release

Contact: Cara Lynn Orchard

(586) 949-4100 x 1572/corchard@lionel.com

For Immediate Release

Lionel President Dick Maddox Announces His Retirement

(Chesterfield, Mich.,) -- Every day for over 50 years Richard N. Maddox, President and COO at Lionel, has lived and breathed model trains and on July 31st, will retire as President.

Maddox brought Lionel into its second century after assuming his position in July of 1999. Popular among model train enthusiasts, Maddox is known for his ability to listen to dealers and consumers, his attention to detail and commitment to quality control. Fortunately for the model train industry, Maddox is planning on staying involved in the company by working with Lionel CEO, William L. Bracy, on specific projects including marketing, quality control and product development.

Maddox, 65, spent his model railroading career in Pennsylvania, Ohio and Michigan. He has overseen the development of national television campaigns, and has developed a reputation for impressive sales figures and insightful marketing operations.

Maddox started his career in retailing and wholesaling and after serving in the United States Army, he became a sales representative at William Korr Sales Company where he paved the road for his model-railroading journey. It was with Korr that Maddox represented over 40 different manufactures counseling in product development, packaging and advertising.

Six years later, Maddox moved to Pennsylvania to become General Manager at Pittsburgh Wholesale Distributors, Inc. for its "hobbycraft division." Here, Maddox used his expertise to develop and implement new hobby/craft programs to the mass market where his duties included purchasing, sales and marketing.

Over the next decade, Maddox continued his career in the hobby industry. He became Vice President of Sales for Associated Hobby Manufacturers in Philadelphia and later started his own business enterprise, Dick Maddox International, where he consulted domestic and offshore toy and hobby manufacturers, worked with product designers, developed packaging and supplied national representation through a web of independent sales representatives.

In 1987 Maddox joined Bachmann Industries where he served as Senior Vice President of Sales and Marketing. During his tenure at Bachmann, Maddox generated large profits, doubled sales and had the vision to establish what would be come an 80 percent market share in mass market accounts with monstrous companies like Wal-Mart, Target, Toys R Us, Kay Bee Toy and more.

"We are delighted at Lionel that Dick is extending his participation with us beyond his formal retirement date at the end of July," said Bill Bracy. "We will benefit greatly from his extensive industry experience, his good relationships throughout the industry and his savvy decision making."

Maddox plans on working at Lionel headquarters in Chesterfield, Mich., three days a week until he moves to his hometown of Philadelphia. He will consult for Lionel from there. A moving date has not been set.

"I have so many people to thank who, over the years, have helped me along the way to grow and develop my skills in the industry. But none so important as the team at Lionel who gave me their total support." said Maddox. "Without them nothing would have been possible. These years have been the most exciting and rewarding of my career."

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About Lionel L.L.C.

Lionel L.L.C. (www.lionel.com), is the worldwide leader in toy train manufacturing with headquarters in Chesterfield, Mich. Lionel L.L.C. serves primarily the "o" gauge toy train and accessories market along with a presence in Large Scale. Lionel trains are the most valued toy trains in the market today, being collected or operated by over 100,000 toy train hobbyists. Lionel has as its core competencies, world class product engineering extensive technology, rich manufacturing and superior customer service. Lionel L.L.C. sells its products through a nationwide distributor and dealer network, the largest in existence today.

Phone 586-949-4100 Fax 586-949-1013 WWW.LIONEL.COM