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Whitaker resigned to pursue a new opportunity as president and
chief executive officer of a distressed manufacturing company. He will remain a member of the company's board of directors.
The board of SDI has appointed three senior executives ...
Whitaker resigned to pursue a new opportunity as president and
chief executive officer of a distressed manufacturing company. He will remain a member of the company's board of directors.
The board of SDI has appointed three senior executives within the company to the office of the chairman to manage the daily
operation of the business: William R. Berkley, non-executive chairman; Donald C. Woodring, CEO; F.M. "Duffy" Shea, COO and
Michael F. Bonner, CFO.
"I am thankful for the opportunity I have had over the past two years to work with an exceptionally
talented and dedicated group of professionals at SDI and I am proud of our accomplishments during that time," Whitaker said.
"The company is stronger financially, operationally, strategically and professionally today compared to two years ago. I am
a turnaround executive and consider my work at SDI done now and know that the new leadership team will do an outstanding job
continuing our efforts to build shareholder value."
Commenting on Whitaker's service, Bill Berkley said, "On behalf of the board and our shareholders, we thank Ron for his leadership over the past two years and the favorable impact it has had on both the quality of the company's operations as well as its financial condition. We wish Ron the best as he undertakes his newest turnaround challenge and look forward to continuing to work with Ron as a board member.
"Mike, Duffy and
Don were an integral part of the company's operational and financial turnaround over the past two years and they have extensive
business experience that will continue to benefit the company in the future. These gentlemen, with the support of the many
talented managers and employees, will provide a strong, well-respected and capable leadership team for the business. The office
of the chairman will build the business in the future as we focus on profitable growth and the strategic alternatives available
given the many options our liquidity provides us."
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