Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Lincoln Electric 3Q Net Fell; CEO to Retire in 2005
Oct 20, 2003
 Printable format
 Email this Article
 Search

Lincoln Electric Holdings Inc.'s reported its third-quarter net income fell 23 percent and that its chairman and chief executive plans to retire in May 2005.

In a press release, Lincoln Electric said it earned U.S. $14.1 million for the quarter, or $0.34 a share, down from $18.3 million, or $0.43 a share, a year ago.

Sales for the period rose 3.8 percent to $256.9 million from $247.5 million a year ago, surpassing Wall Street's forecast of $252.1 million.

The maker of arc welding products posted higher costs of goods sold and selling, general, and administrative expenses in the latest period.

Lincoln Electric said its CEO, Mr. Massaro, who has been chief executive and president of the company since 1996 and was named chairman in 1997, will retire in 2005. He joined the company in 1993 as director of international operations, based in London.

The company's board has asked a representative "cross-section" of its members to evaluate qualified chief executive candidates. The committee will be headed by Harold L. Adams, former chairman and chief executive of RTKL Associates Inc. Other directors serving on the committee are Kathryn Jo Lincoln, Henry L. Meyer III, Ranko Cucuz, and Hellene S. Runtagh.

The company said one candidate it is considering is chief operating officer John Stropki.

Back to Daily News

 

Daily News

...........................................................

Dec 17, 2014: Bosch names Kenny head of marketing

Dec 17, 2014: Multifamily Production Index off its peak, but still positive

Dec 17, 2014: AHRI launches two new certification programs

Dec 16, 2014: Ar├želik awarded for fridge with integrated ice-cream bowl

Dec 16, 2014: Report: appliance segment at the top of 2014 reshoring list

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: Appliance Magazine Market Insight Annual Subscriptions
November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows