IN-based LogoAthletic Founder & CEO Tom Shine said that
the company is "reorganizing top management as it battles an
industry slump" and that it "intends to have a new" CEO in
place within 90 days, according to Barb Albert of the
INDIANAPOLIS STAR. Shine: "We are going to have some
changes in management. I don't want to handle the day-to-
day operations ... anymore." Albert cites Sporting Goods
Intelligence as reporting that Shine "already has yielded
day-to-day control" of Logo to IN-based accounting firm Katz
Sapper & Miller partner Bruce Jacobson and that Shine will
become co-Chair of the BOD along with Puma CEO Jochen Zeitz.
While some Logo employees are "concerned that normal
seasonal layoffs might become permanent" because of
industry-wide "problems," Shine said that the "furloughs
were typical for this time of year." But Shine declined to
disclose how many people have been laid off or whether Logo
was losing money. Also, a Logo employee said that workers
were told Monday that they "could expect few, if any,
raises, after the layoffs end" (INDIANAPOLIS STAR, 2/18).
