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REEBOK COO DUERDEN ANNOUNCES "SURPRISE" RESIGNATION
Published April 10, 1995
Reebok COO/Exec VP John Duerden has tendered his resignation, effective after a reasonable transition period. According to the company, under Duerden's tenure, the Int'l Division of Reebok has had "outstanding growth in sales and profits." Reebok CEO Paul Fireman: "It is with great personal regret that I announce John Duerden's departure after a successful six-and-a-half year career with the company." Duerden has not announced his future plans. Fireman and Reebok CFO Paul Duncan will realign their responsibilities to include Duerden's duties (Reebok). A Reebok spokesperson called Duerden's resignation a "personal decision." Reebok's announcement came not quite two months after it had been reported that Duerden had sold 100,000 shares of Reebok stock, bringing his holdings to zero. Last fall, Duerden was named co-president, a title shared with Fireman. Duerden had been president until Fireman had re- claimed the title a few years earlier (Chris Reidy, BOSTON GLOBE, 4/8). According to this morning's WALL STREET JOURNAL, the announcement came as a surprise to analysts and company staff members. Reebok spokesperson Kate Burnham: "Maybe it wasn't a surprise to Paul Fireman, but it certainly was a surprise to me" (WALL STREET JOURNAL, 4/10).