REEBOK COO DUERDEN ANNOUNCES "SURPRISE" RESIGNATION
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).