As Wallace Reevaluates Business Plan, CEO Departs
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Wallace officials are in the process of developing an action plan that could result in a restructuring to deal with under-performing assets and rationalization of certain product lines.
The move follows the resignation of Chairman and CEO Robert J. Cronin, 55. Board member Neele E. Stearns Jr. was named chairman and Michael O. Duffield, president and COO, assumed interim responsibilities as CEO.
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