Myers President/CEO to Retire
Myers Industries Inc. announced president and CEO John Orr will officially retire Dec. 31. The board of directors at Myers will search for a successor using DHR International, Inc., an executive search consultant, and Orr. Orr joined Myers in 2000 and became president and CEO in 2005. As president and CEO, Orr consolidated the business
Myers Industries Reports Possible Fraud
Myers Industries disclosed in an SEC filing that it “may have suffered possible fraud at its Brazilian operations.” Its report to the SEC, the company noted that it might be financially affected as well. On March 16, the company informed the SEC that its annual report, 10-K filing, may not be filed in a timely
Myers Financial Results Down in 2014
Gross profit was down in 2014 despite an increase in net sales year-over-year for Myers Industries Inc. The international manufacturer and distributor posted $623,649 million in sales for 2014, a 6.7% increase versus 2013. The company reported gross profit decreased 3.4% in 2014 to $163,715 million. President and CEO John C. Orr stated that “weakened
Myers Industries Launches New Website
Myers Industries Inc. launched a new corporate website at myersindustries.com. The site features a clean, modern design, easy-to navigate functionality, and is mobile optimized, according to Myers. The site provides current company news including a strategy and business section, an investor relations section and an about us. Visitors to the site can learn about Myers’
Myers Industries Sells Lawn and Garden Business
Myers Industries Inc. has entered into a definitive agreement to sell its lawn and garden business for $115 million to an entity controlled by Wingate Partners V, L.P., a Dallas, Texas-based private equity firm. On June 2, 2014, Myers decided to pursue the sale of its lawn and garden unit. Myers said that the decision
Myers Industries Appoints Distribution Segment Replacement
Myers Industries Inc. announced that Alex Williamson has joined the company as vice president and general manager of the company’s distribution segment, replacing Todd Smith. Smith will assume the role of vice president and general manager of Akro-Mils, a core material handling business for the company. In this position, Williamson will focus on the growth
Business Shifts Create Realignment at Myers
Having completed the sale of its WEK Industries unit and set the purchase of Scepter Corp. and Scepter Manufacturing LLC, Myers Industries Inc. has realigned its business into two segments. Starting with the second quarter Form 10Q and going forward, Myers said it will report its earnings in two reportable segments: Material Handling and Distribution. The new
Myers Commences Sale of Lawn and Garden Segment
Myers Industries Inc. has engaged the investment bank William Blair & Co. to commence the sale of its lawn and garden segment. The decision was made by the company to streamline Myers’ business mix and allow it to focus resources on its core growth platforms. The company expects the sale process to be completed within