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Fleetwood CEO resigns

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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

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