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Article: Sour deal behind it, Tetra Tech gets in position for turnaround.(Albert Smith appointed)(Company Profile)
- Article from:
- Los Angeles Business Journal
- Article date:
- August 15, 2005
- Author:
CopyrightCOPYRIGHT 2005 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TETRA Tech Inc.'s decision last week to name Albert Smith, a former Lockheed Martin Corp. executive, to the newly created post of vice chairman comes at a crucial time for the Pasadena-based engineering and consulting firm.
Smith's arrival eases questions about Tetra Tech's future management, just as Chairman and Chief Executive Li-San Hwang is about to turn 70 next month.
After putting together compounded growth of 27 percent in both earnings and revenues for its first decade as a public company, Tetra Tech hit a wall in 2001 with the telecommunications meltdown.
The stock peaked above $37 in December 2000 and hasn't climbed above $27.60 since ...