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news.Matrixx Initiatives, a provider of over-the-counter healthcare products, has announced that president and CEO, Carl Johnson will be retiring from the company, effective October 31, 2008.
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Mr Johnson has agreed to serve as a consultant to the company until March 31, 2009, the end of the company’s current fiscal year, to assist with transition items.
The company has also announced that William Hemelt, who joined Matrixx in 1998 and currently serves as the company’s executive vice president and CFO, will assume the additional roles of acting president and COO, with responsibility for the day-to-day management of the company, until the completion of the company’s search for a permanent replacement of Mr Johnson.
Mr Johnson said: “I am extremely proud of what the employees have accomplished at Matrixx over the past seven years and I believe the company is well positioned to capitalize on the substantial opportunities ahead of it. I look forward to working with Mr Hemelt and the rest of the management team during this transition period and I wish all of the employees continued success in the future.”