RV firm's CEO resigns.Byline: Tim Christie The Register-Guard Brad Albrechtsen is resigning as head of National R.V. Holdings National R.V. Holdings (NYSE:NVH) is a company from the north of Perris, California, that makes recreational vehicles. The company is divided into two subsidiaries: National R.V., Inc., (diesel and gasoline RVs), and Country Coach, Inc. (diesel RVs only). Inc., the former corporate parent of Country Coach in Junction City Junction City, city (1990 pop. 20,604), seat of Geary co., NE Kans., at the confluence of the Republican and Smoky Hill rivers; inc. 1859. The rail, trade, and processing center of an agricultural and dairy area, it grew as the supply point for nearby Fort Riley, , after a six-year tenure as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. during which the company lost more than $100 million. Albrechtsen will continue to serve on National R.V.'s board of directors after his resignation takes effect at the end of the month, the company said. He will be replaced by David Humphreys, who was appointed board chairman earlier this year. Humphreys was president of the Recreational Vehicle Industry Association from 1979 until his retirement in 2006. After Albrechtsen was named CEO in September 2001, National R.V. posted red ink red ink Health administration A popular term for financial losses. Cf in the Black. in 20 of 24 quarters, including the last 12 straight, with cumulative losses of $104.4 million through the second quarter of 2007. National R.V., based in Perris, Calif., bought Country Coach from founder Bob Lee in 1996. In February, confronted with mounting losses, National R.V. sold Country Coach to a group led by Los Angeles investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. Bryant Riley, which took the company private. |
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