Boyds Wheels Chairman/CEO Boyd Coddington Resigns;
Coddington to Serve as Consultant; Gardiner S. Dutton
Appointed Interim Chairman and CEO
Business Wire - November 03, 1997 16:30
%BOYDS-WHEELS BYDS %CALIFORNIA %AUTOMOTIVE %MANAGEMENT %CHANGES V%BW P%BW
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STANTON, Calif.--(BUSINESS WIRE)--Nov. 3, 1997--Boyds Wheels Inc.
(NASDAQ:BYDS) Monday announced that founder Boyd Coddington has resigned as the
company's chairman and chief executive officer. Under a multiyear agreement, Coddington will
serve as a design and marketing consultant and will remain a member of the board of directors.
"I view this change with great enthusiasm in the belief that it will enable me to better serve the
company," said Coddington.
Current board member and former manufacturing executive Gardiner S. Dutton has been
appointed interim chairman and chief executive officer.
"The board of directors and the management at Boyds are confident that we are building a team
that can successfully refocus and streamline this company," said David Asher, Boyds Wheels
president and chief operating officer. "We are fortunate to have the benefit of Gardiner's expertise
in manufacturing and management, as well as Boyd's continued involvement with design, public
relations and marketing."
Dutton's 30-year career in manufacturing includes senior-level executive positions with several
publicly traded manufacturing companies. Most recently, from 1990 to 1995, Dutton served as
president and chief executive officer of Bowmar Instruments Corp., a defense subcontractor,
where he returned the company to profitability in just one year.
For 10 years prior to Bowmar, Dutton was chairman and chief executive officer of Inertial
Dynamics Corp., now Ryobi Outdoor Products. Prior to that, he served as president of G & W
Natural Resources Group, Coal Division, and previously was president of Ferro Union Corp.
Dutton began his career with several positions in finance, mergers and acquisitions.
Founded in 1988, Boyds Wheels designs, manufactures and markets high-quality aluminum
wheels and related products for the specialty automotive and motorcycle aftermarkets. The
company's wholly-owned subsidiary, Hot Rods by Boyds, is a global leader in the design and
manufacture of custom cars and hot rods for individual clientele.
CONTACT: Boyds Wheels Inc., Stanton
David Asher, 714/952-4038 |
