SBJ/December 20 - 26, 1999/No Topic Name

Earnings news puts 4 execs out of Action

Four senior executives at Action Performance Cos. were dismissed last week in the wake of an announcement that the company will miss first-quarter earnings projections due to delays in implementing promotional programs.

Howard Jacobs, who had been promoted to chief marketing officer only a week before, was among those forced out at the company. Scott Williamson, vice president of corporate communications, was also dismissed, as was Mike Bartelli, vice president of business development. Jacobs and Williamson both joined Action Performance earlier this year from the Coca-Cola Co.

The name of the fourth executive was not available.

CEO Fred Wagenhals will assume primary marketing responsibilities at Action Performance, according to a statement released by the company.

The company also announced that it was indefinitely postponing plans to spin off its Internet subsidiary, goracing.com, through an initial public offering.

Prior to the announcement, Action Performance's stock price had already dropped by more than 20 percent last week.

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