News Item:
For those who don't have access to Dow Jones, a news item ran accross today.
It hasn't been fun to own this stock, but apparently its been an interesting place to work:
Ultrafem Fires CEO/Pres Andersen, Exec VP Contente
NEW YORK (Dow Jones)--Ultrafem Inc. (UFEM) fired Chairman, Chief
Executive and President John Andersen and Executive Vice President
Audrey Contente.
Ultrafem is searching for a new chief executive and president.
The company named Joy V. Jones chairman, replacing Anderson.
In a press release Wednesday, the company said it established the office of
chief executive, consisting of Dori M. Reap, senior vice president, finance,
and Tonya G. Hinch, senior vice president, marketing and sales, pending
the appointment of a new chief executive.
Andersen and Contente will remain directors.
The women's health care company said it initiated the restructuring to
facilitate efforts concerning financing and other alternatives such as the
potential sale of the company, individual assets or distribution rights.
As reported, Contente filed a claim against the company and Andersen
alleging sexual harassment and retaliation. Ultrafem had denied the charges
and said it would defend the claim.
Ultrafem reported in December that it is seeking financing and is considering
the sale of the company, assets or distribution rights.
Larry |
