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Fleetwood Founder, Chairman Sells Part of Stock in Company.(Originated from The Press-Enterprise, Riverside, Calif.)
Knight Ridder/Tribune Business News, September, 1996 by Crider, Jeff
RIVERSIDE, Calif.--Sep. 13--John C. Crean, the 71-year-old chairman and founder of Riverside-based Fleetwood Enterprises Inc., has sold 30 percent of his Fleetwood stock to the company for $66.9 million.
"There's no intent to distance himself from the company. It simply means that Mr. Crean has some personal objectives that he wants to pursue," said Lyle Larkin, Fleetwood's treasurer.
Fleetwood purchased 2.4 million shares from Crean Tuesday for $27.87 each.
Larkin said directors and officers of Fleetwood owned just over 22 percent of the company's stock, not including options, before Crean decided to sell some of his stock. That figure fell to 17 percent after Crean made his stock sale, Larkin said.
Crean now owns about 15.8 percent of...
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