CASTLE BRANDS LOSES SECOND CFO IN FIVE MONTH
After signing on with Castle Brands as CFO three months ago, Herbert Roberts has resigned for personal reasons, according to the company. Herbert’s resignation follows the departure of Matthew MacFarland from the CFO position in October 2006.
It might seem like a strange coincidence, but the company cautions that it’s just that. A coincidence.
“No business, competitive or financial issues regarding the Company played a role in Mr. Robert’s decision,” said the company.
Keith A. Bellinger, the company's president and COO, will take his role as CFO during a search Herbert’s successor.
In a separate note, Castle Brands also announced that Donald Marsh will act as senior consultant on financial and operational matters. His most recent position was CFO at Commonwealth Industries, a metals company.
It’s no secret that Castle Brand had a bit of a struggle in its third quarter earners, posting a net loss of $3.7 million in the quarter to December 31.
It might seem like a strange coincidence, but the company cautions that it’s just that. A coincidence.
“No business, competitive or financial issues regarding the Company played a role in Mr. Robert’s decision,” said the company.
Keith A. Bellinger, the company's president and COO, will take his role as CFO during a search Herbert’s successor.
In a separate note, Castle Brands also announced that Donald Marsh will act as senior consultant on financial and operational matters. His most recent position was CFO at Commonwealth Industries, a metals company.
It’s no secret that Castle Brand had a bit of a struggle in its third quarter earners, posting a net loss of $3.7 million in the quarter to December 31.
posted at 2:29 PM
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