Small appliance maker Applica Incorporated announced that its board of directors appointed Christopher B. Madison to fill the board seat left vacant by the retirement of Felix Sabates in January 2006.
Madison is a principal of Mast Capital Management, LLC, a Boston, Massachusetts, U.S.-based investment manager focused on high-yield and special situation credit investing. A fund managed by Mast currently holds 2.3 million shares of Applica common stock (approximately 9.6 percent of the outstanding shares) and made a U.S. $20 million secured term loan to Applica in October 2005.
Prior to establishing Mast Capital Management in May 2002, Madison was a senior member of UBS Warburg's global high-yield distribution team.
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