Management Turnover as Change Agent

Wednesday, December 12, 2007

Federal Signal's CEO To Resign

Early today Federal Signal FSS (NYSE), which makes fire trucks, safety gear and street cleaning vehicles, announced that its president and CEO, Richard Welding, will resign. The company named James Goodwin as interim President and CEO while the Company finds a successor. For some time now, the company has been under-performing.

Welding's resignation is a good sign for the company. He has had more than sufficient time to get the company moving in a really positive direction but nothing he has done has seemed to succeed. The real question is whether Federal Signal can find the right executive to take on the company's challenges.

Keep a close eye on who the company picks to succeed Welding and what the firm does in the interim period before a successor is chosen.

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