Janet E. Mann, Vice President - Sheet Sales and Marketing of the Company, agreed as of December 2, 2011, that she will be resigning from her position with the Company effective as of January 3, 2011. Ms. Mann's resignation will be treated as a termination without "Cause" as defined in her Severance and Noncompetition Agreement.
Looked her up somewhere on the world wide web. She was making plenty of compensation. Looks like she has some type of parachute too. Bottom line, she has probably done just fine with Spartech. Our fine women is running a solid balance sheet and continuing to trim costs too. If you can't sell anymore it has to come out somewhere. I like it as a shareholder. Pro-Active.
Not a good omen. I hate to see someone fired right before earnings. It usually means that numbers will be bad and the inference is that we got rid of the problem. I'm hoping that they flush all the expenses they can in the last quarter and then we have plenty of good earnings news for FY 2012. Once the earnings are out, it should be up from there. JMHO