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REEBOK'S REVOLVING DOOR KEEPS SPINNING
Published June 1, 1995
The resignation of one of Reebok's top executives yesterday led to a major management reorganization, according to Steff Gelston in this morning's BOSTON HERALD. Roberto Muller, Chief Marketing Officer for the Reebok Brand Division, left the company citing personal reasons. Mueller's duties have "been reassigned" to CEO Paul Fireman and CFO Paul Duncan. Fireman will handle global marketing and development, while Duncan becomes Exec VP and COO for the Reebok division. Kenneth Watchmaker, Exec VP/Finance, will take over Duncan's position. Muller is the second "top official to leave the company in as many months," following COO John Duerdan's April resignation. The departures also follow a company decision to cut $60M from its operating budget after missing its 1stQ financial goals. Reebok had planned to announce a cost-cutting plan on June 20, but the company has already laid off 150 workers, including 40-50 from its Avia unit, with cuts also looming at its Rockport subsidiary. But analysts say that Reebok is "more interested in consolidating overseas operations and trimming expenses than in a major layoff" (BOSTON HERALD, 6/1).