Tami Longaberger resigns, CVSL vice chair John Rochon Jr. appointed president, chair & CEO
Longaberger parent company CVSL filed an 8K yesterday announcing the departure of Tami Longaberger, CEO of the Newark-based basket and homegoods company founded by her father in 1973.
The Columbus Dispatch reports that the company has cycled through seven presidents since founder Dave Longaberger's death in 1999.
In a letter published by the Newark Advocate, vice chair of Longaberger parent company (Dallas-based CVSL) John Rochon Jr. announced he would take over as chairman, president and CEO of the struggling direct-sales company at the request of his father, CVSL chairman John P. Rochon.
Rochon opened his letter with verse Jeremiah 29:11 before addressing the "Extended Longaberger Company Family":
"I believe that God has his own good reasons for what He does. Sometimes His actions are mysterios to us, but I believe in the end, they are all part of a plan.
His plan has led me to accept my father's request that I take on the responsibilities of chairman, president and CEO of the Longaberger Company. I believe I have been put into thie position in order to fulfill God's desire that The Longaberger Company have a future and a hope."
Rochon's stated goal is to save the company, though no strategies have been announced. He notes that Dave Longaberger's brother Gary and his wife Lynn remain with the company to "carry on the family legacy."
CVSL stock was down .02% to 2.05 as of this morning.