Beleaguered medical supplier PSS World Medical said its founder Patrick Kelly has resigned his position as chairman and CEO to pursue other interests. Kelly, who co-founded the Jacksonville, FL-based distributor in 1983 and has served as CEO for 17 years, will be replaced by several executives.
Clark Johnson, a director and former chairman and CEO of Pier I Imports, has been named chairman, while David Smith has been named president. Smith has been executive vice president since 1996. In addition, the board of directors has created an office of the president, consisting of Smith and the presidents of each of the firm’s three divisions: Douglas Harper, Kirk Zambetti, and Gary Corless.
In other news, PSS said it expects to report earnings for its second quarter (end-September 30) to be between $.07 and $.09 per basic weighted share on a pro forma basis, excluding special charges. Last year, the company earned $.22 per share in its second quarter. The company operates in the medical imaging market through its Diagnostic Imaging subsidiary.
By AuntMinnie.com staff writersOctober 3, 2000
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