Tambrands
This article was originally published in The Gray Sheet
Executive Summary
Chairman and CEO Martin Emmett, 58, resigns effective June 1. The White Plains, New York maker of Tampax tampons appointed Howard Wentz, Jr., 63, to replace him as chairman and is commencing a search for a new CEO. Wentz has been a director since 1985. The firm announced in a June 2 press release that it expects second quarter earnings to be "significantly below" year- ago period earnings of $0.72 a share, "due largely to reduction and liquidation of trade customers' inventory, increased marketing expenditures, and competitive pressures." The firm is also predicting 1993 earnings below the 1992 level of $3.06 per share.