|Vice President / Treasurer: Stephen LoCascio|
STEPHEN LOCASCIO is co-president of The Michael Russell Group, an LA-based public relations and marketing firm which specializes in entertainment and consumer brand consulting. He joins the Board of Directors bringing an exenstive background in finance and agency management.
After graduating from the University Of Southern California, Mr. LoCascio joined the Public Accounting Firm of KPMG and rose to the rank of Senior Manager where he headed the Health Services Division of the Los Angeles office serving many health care companies including National Medical Enterprises.
In 1982, Mr. LoCascio left KPMG to accept the position of Chief Financial Officer for one of his clients American Health Services (AHS). The company was organizing an Initial Public Offering. Mr. Locascio oversaw all aspects of the IPO and ultimately worked with the Board of Directors to abandon the IPO and negotiated a private sale of the company.
After the sale of AHS, Imperial Ventures (a stockholder of AHS) asked Mr. LoCascio to help turn around an investment they had with a company called Seltec. What was to be a 6 month review, turned into a six year commitment which turned around the company from bleeding $1,000,000 in cash per month to an annual profit of $25,000,000. He then negotiated the sale of the company to BMG Industries.
After the sale of Seltec, Mr. LoCascio returned to Southern California at the request of John Anderson, to form a specialty foods company utilizing their existing investment in Mrs. Beasley’s as their flagship. Over the next seven years Mr. LoCascio purchased on behalf of the now called Chandler Foods, ten independent specialty food companies and consolidated their operations under the Chandler Foods banner. A few of the companies operated by Chandler Foods included Miss Grace Lemon Cake Co., Just Off Melrose, Bavarian Bakery, Desert Of The Month Club and Old Town Foods.
In 1995, Mr. LoCascio sold his interest in Chandler Foods back to the company to pursue his desire to form is own consulting practice. In 1996, Mr. LoCascio and Michael Russell formed the Public Relations and Marketing company “The Michael Russell Group.”
The Michael Russell Group
Phone (310) 939-9024