Printer Friendly

SUNBEAM-OSTER ANNOUNCES MANAGEMENT CHANGES

 PROVIDENCE, R.I., Jan. 11 /PRNewswire/ -- The board of directors of Sunbeam-Oster Company, Inc. (NYSE: SOC) today announced a series of management changes that are effective immediately.
 Specifically, the executive committee of the board of directors has:
 -- terminated Paul B. Kazarian, 37, as chairman of the board of directors, president and principal financial officer of the company.
 -- named Charles J. Thayer, 48, as interim chairman. Mr. Thayer, a private investor and former executive vice president of PNC Financial Corp., has served as a director of the company since 1990.
 -- named Peter A. Langerman, 37, as chairman of the executive committee of the board of directors. Mr. Langerman, the executive vice president and a director of Mutual Series Fund, Inc., has been a director of the company and a member of the board's executive committee since 1990.
 -- established a new office of the president comprised of Michael G. Lederman, 39, a director and the general counsel and secretary of Sunbeam-Oster since 1990; James J. Clegg, 39, president - household products; Richard D. Davidson, 44, president - outdoor products; and James K. Thomas, 53, president - specialty products.
 -- appointed Robert H. Setrakian, 30, to the additional post of chief financial officer of the company. Mr. Setrakian currently serves as vice president and treasurer of Sunbeam-Oster.
 -- formed a search committee to select a new president. The committee will be led by Roderick M. Hills, 61, a director of the company and chairman of the board's audit committee.
 Mr. Hills said: "Since the company's public offering last year, Sunbeam-Oster has posted impressive financial results and continues to lay the groundwork for future growth and profitability. We believe the management changes being undertaken are in the best interests of the company's shareholders and other constituents. The company's preliminary financial results for 1992 will be reported in early February. The company's financial position remains extremely sound."
 Sunbeam-Oster is a leading international consumer products company that develops, manufactures, and markets a diversified portfolio of outdoor, household and specialty brand name products. The company's Sunbeam and Oster brands have been household names for generations, and the company is a market share leader in many of its product categories.
 -0- 1/11/93
 /CONTACT: Robert H. Setrakian (investors) of Sunbeam-Oster Company, 401-831-0050; or Fred Spar or Josh Pekarsky of Kekst and Company, 212-593-2655, for Sunbeam-Oster Company/
 (SOC)


CO: Sunbeam-Oster Company, Inc. ST: Rhode Island IN: HOU SU: PER

PS-SH -- NY035 -- 3488 01/11/93 11:30 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 11, 1993
Words:405
Previous Article:FEDERAL RESERVE BANK OF KANSAS CITY FORECAST
Next Article:GROW GROUP INTRODUCES UNIQUE NEW PRODUCT -- DISPOSOL(TM) NEW PRODUCT ELIMINATES KITCHEN SINK ODORS BY DEEP-CLEANING DISPOSALS
Topics:


Related Articles
SUNBEAM-OSTER ELECTS NEW CORPORATE OFFICERS
KAZARIAN ASSERTS RIGHTS AS CHAIRMAN OF BOARD OF SUNBEAM-OSTER
SUNBEAM-OSTER ANNOUNCES LEAVES OF ABSENCE OF CFO AND GENERAL COUNSEL
SUNBEAM-OSTER ELECTS ROGER W. SCHIPKE CHAIRMAN AND CEO
SUNBEAM-OSTER NAMES PAUL M. O'HARA CHIEF FINANCIAL OFFICER
SUNBEAM-OSTER APPOINTS CHIEF OPERATING OFFICERS FOR NORTH AMERICA AND INTERNATIONAL OPERATIONS
SUNBEAM-OSTER APPOINTS CHIEF OPERATING OFFICERS FOR NORTH AMERICA AND INTERNATIONAL OPERATIONS
CEO SCHIPKE TO LEAVE SUNBEAM
SUNBEAM CORPORATION ANNOUNCES NEW DIRECTORS
AL DUNLAP NAMED CHAIRMAN AND CEO OF SUNBEAM CORPORATION

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters