Fleetwood CEO resigns

Caravan
and donga maker Fleetwood’s board has announced its CEO Steve Price has resigned,
with this to take effect on June 30.

Fleetwood
has undergone a difficult period, acknowledged in the statement from the
company last Friday.

As
reported by Manufacturers’ Monthly
last month, Fleetwood’s first-half profits
had decreased 18 per cent to $4.2 million, year-on-year. This followed an 81 per cent decline in first-half profit announced in 2013.

The
company thanked Price for his leadership during “a particularly challenging
period, and also implemented
a series of reforms and initiated processes which will stand the group in good
stead in the 
years
to come.”

The
Australian
notes that under Price’s leadership the company’s share price has
fallen from $14 to $2.60.

Fleetwood has commenced a search for a new CEO.

Image: yahoo.com