SWEEPING CHANGES SHAKE UP THE VACUUM CLEANER INDUSTRY.(Mike Merriman leaves Royal Appliance Manufacturing Co.)(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, March, 2004 by Beatty, Gerry
CHICAGO-Yet another big floor-care company has said goodbye to its chief executive officer.
In the latest move, Mike Merriman is out as Royal Appliance Manufacturing's president and CEO, 11 months after the Dirt Devil manufacturer was acquired by Techtronic Industries. He was succeeded by a trio of executive vice presidents, including Rick Farone.
Three out of the big four vac manufacturers have changed presidents in the past year. In part, the shakeup can be attributed to the radically altered industry. Price shrinkage, softness in sales and product development a year ago, and a shift of manufacturing to China have helped make the industry nearly unrecognizable from three years ago.
Merriman said he was not surprised by his dismissal, but...
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