Major staff changes at Phoenix Footwear
Phoenix Footwear Group Inc has been conducting a review of its business and may be about to divest or exit certain operations. No definitive agreements have yet been reached.
Cathy Taylor and Doug Ford have stepped down from their positions as CEO and director, and CFO, respectively. The company has also restructured its operations, eliminating 17 positions for an annual cost savings of approximately $2.5 million. These reductions are effective Feb 16 and will result in a charge for severance during the first quarter of 2009.
In the wake of these changes, Russell Hall has been named president and chief executive officer while Dennis Nelson has been named the company's chief financial officer.
Mr Hall has been with the company since 2000 and was most recently responsible for its Trotters, SoftWalk and Chambers divisions. Dennis Nelson has been the company's controller since June, prior to which he was director of finance for TaylorMade-adidas Golf Company.
