Methven shares fall 2.3 percent after CEO Fala flags September exit

Thu, 21 Mar 2013

March 21 (BusinessDesk) - Shares in Methven fell 2.3 percent after chief executive Rick Fala will leave the tapware manufacturer in September. The shares fell 3 cents to $1.30, matching its lowest level this year on March 11. Fala leaves after 15 years in charge, and will stay on the board as an independent director. His decision to stay on the board comes after Methven implemented a plan to link directors' fees to lifting profit. Last month, Methven cut its forecast annual profit to be less than last year's $6.5 million, and a survey of...

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