Article: International Wallcoverings Ltd. Reports Second Quarter Results, Including Restructuring Costs

President terminated by Board

TSE Stock Symbol: IWL

BRAMPTON, Ont., Sept. 4 /CNW-PRN/ - International Wallcoverings announced today that its six months results, ending June 30, 1998, included a restructuring cost of $16.7 million, and losses from foreign exchange contracts of $3.2 million for an overall after tax loss of $15.4 million.

Frank Rolph, Chairman of the Audit Committee, said, ``These results were unacceptable to the Board, and we have opted for a change in leadership. Effective today President and CEO Colin Beasley is no longer associated with the company. His role will be assumed by founder and Chairman, Frank Baker, former ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!