ELKHART, Ind. (AFX) - Recreational vehicle maker Coachmen Industries Inc. said Monday Chief Executive Claire C. Skinner has taken early retirement and resigned from the board.
The company also said it cut its quarterly dividend to 3 cents from 6 cents, and announced an authorization to repurchase up to 1 million shares.
William P. Johnson, 64, will become non-executive chairman. He had been Coachmen's lead director.
Chief Financial Officer Richard Lavers, 58, will become chief executive. Taking Lavers' place as CFO is Colleen Zuhl, 40, previously a vice president and controller.
A company spokesman declined to offer details on why Skinner, 52, opted for early retirement.
The company had 15.7 million shares outstanding as of July 31, according to a filing with the Securities and Exchange Commission.
Coachmen shares closed up 11 cents at $9.16 on the New York Stock Exchange.
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