Kevin Carmody, Standard Register Interim President and CEO, Resigns from Board
DAYTON, Ohio—July 15, 2015—According to a filing with the U.S. Securities and Exchange Commission, Kevin Carmody, president, CEO and chief restructuring officer of Standard Register, has resigned his position on the company’s board of directors, reported the Dayton Daily News.
Carmody, a partner at financial advisory firm McKinsey Recovery & Transformation Services, announced on July 10, 2015, that he was resigning his position on the firm's board of directors and each of its subsidiaries, documents said. This announcement comes after Joseph Morgan, president and CEO of Standard Register, notified the company’s board of directors that he was resigning effective June 26. Carmody was named Standard Register’s interim CEO, following Morgan's exit.
According to the Daily News, Standard Register and Taylor Corp. said in a statement on Tuesday, that the actions reported in the Form 8-K filing "have no effect on the timing of the sale" of Standard Register’s assets to Taylor Corp. in North Mankato, Minnesota.
Taylor Corp. was the winning bidder at $307 million for Standard Register's assets in a court auction in June. According to the paper, the deal is expected to close by Aug. 16.
Standard Register ranked ninth on the 2014 Printing Impressions 400 with sales of $719.78 million.