Richard Manoogian, chairman and chief executive
officer for Masco Corp., plans to give up the CEO position this July and become
the company’s executive chairman.
Richard Manoogian, 70, chairman and chief
executive officer, Masco Corp., plans to give up the CEO position this July and
become the company’s executive chairman. Manoogian
is only the second chairman and CEO in Masco’s nearly 80-year history, after
taking over for his father,Alex Manoogian.
Manoogian has recommended to the board of directors thatTimothy
Wadhams, 58, Masco’s chief financial officer, be named CEO.
In other changes at the top,Alan Barry,
64, Masco’s president and chief operating officer, plans to retire early next
year when he reaches the company’s normal retirement age.
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