Standard Register Co. (SR) Appoints New Acting CEO Joseph Morgan
Source: http://Blog.QualityStocks.net/?p=12348Posted on Saturday, September 13th, 2008 | In Small & Micro Cap
With the retirement of 8-year CEO Dennis L. Rediker, the Standard Register Board of Directors appointed current vice president and COO Joseph P. Morgan, Jr. as its acting chief executive. Morgan has been with the company for seven years in a variety of departments.
“We feel the company will be in good hands under Joe Morgan,” said F. David Clarke III, Standard Register’s non-executive chairman of the board. “Joe is certainly the leading candidate for the CEO position at this time, but the board feels it is essential to consider all of the best available candidates.”
Rediker said now was the right time for him to retire from the company and watch rather than play an active role in it. “I feel it is a good time for a change in corporate leadership,” he said. “The company is now well-positioned for future success and my retirement at this time will give my successor the opportunity to build on the progress of the last several years.”
The appointment is consistent with the board’s succession plan and Standard Register (NYSE: SR) will set up an executive search committee.
“Dennis took the helm of our company at a critical time in its history and led it through a restructuring process necessitated by changing technologies and markets,” Clarke said. “It was a difficult but essential evolution designed to keep Standard Register competitive in the digital age. On behalf of the entire board, I would like to thank him for leading the company through this transition period.”
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Dennis L. Rediker, F. David Clarke III, Joseph Morgan, Joseph P. Morgan, Jr., search committee, Small & Micro Cap, Standard Register Co.
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