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REEBOK'S REVOLVING DOOR KEEPS SPINNING

     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).
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