Top brass exit Action Products
By Staff -- Playthings, 3/18/2009 2:59:00 PM
ORLANDO, Fla.—Action Products’ president and its chief financial officer resigned from the company last week, according to documents filed with the U.S. Securities and Exchange Commission.
According to Action Products’ 8-K filing, Ronald Kaplan, president and chief operating officer and a director of the company, and Robert Burrows, chief financial officer, left the company on March 12.
On that same date, the toymaker’s board of directors unanimously appointed Warren Kaplan (Ron Kaplan’s father) to fill the vacancy on the board of directors and appointed him chairperson. Also, on March 12 the board unanimously voted Warren Kaplan chief executive officer and named Neil Swartz, who had been serving as CEO, as the company’s new president and interim chief financial officer.
Warren Kaplan served as chairperson of Action Products’ board from 2002 through November 2005.He served as the company's president prior to 1996 when he became a managing partner of Kaplan Asset Management.
Both Ronald Kaplan and his wife, Judith Kaplan, remain “significant shareholder(s)” in the company.
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