Citizen Watch Company of America President Laurence Grunstein Retires

Citizen announced today that Citizen Watch Company of America, Inc. president Laurence Grunstein will retire effective April 15, 2011. Grunstein joined Citizen as USA president in 1985. He was also appointed President, Citizen Watch Company of Canada, Ltd. in 1993 and Managing Director and CEO, Citizen Watch United Kingdom, Ltd. in 2000. Mr. Grunstein’s successor, Jeffrey A. Cohen, Executive Vice President, Citizen Watch Company of America, Inc. and previously Worldwide President of the Movado brand at Movado Group, Inc., will be named President, Citizen Watch Company of America, Inc., upon Mr. Grunstein’s retirement. Mr. Tetsuro Nakano, Chairman, Citizen Watch Company of America, Inc., said “Citizen recognizes Larry’s tireless commitment during the past two-and-a-half decades to the development of the Citizen brand in the U.S., Canada and the U.K., making the COA Group the top-performing subsidiary within Citizen’s worldwide organization.” Jeffrey A. Cohen