USA: Imperial Sugar Company CEO to retire chairman to assume CEO duties
Imperial Sugar announced yesterday that James C. Kempner, President and CEO will retire as CEO and as a member of the Board of Directors effective October 23, 2001. Robert J. McLaughlin, Chairman of the Board of Imperial, will assume the additional duties of President and CEO. Commenting on the management change, James Kempner said, "Last year I had informed the Board of Directors that it was my intent to retire when I reached 62 in July, 2001 and I subsequently indicated to the informal committee of bondholders during negotiations leading to the restructuring of Imperial that I would lead the Company through the restructuring process, but expected to retire following its completion." Mr. Kempner continued, "Our industry appears to have turned the corner; Imperial's competitive ability has been substantially enhanced by the successful completion of its restructuring; the Company has an experienced and capable management team in place which will now be augmented by Bob McLaughlin's extensive experience in heading companies similar to Imperial. I leave a strong company in good hands."
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