Martek
This article was originally published in The Tan Sheet
Executive Summary
President Steve Dubin will succeed Henry "Pete" Linsert as CEO of Martek June 30 upon Linsert's retirement, the firm announces during a Dec. 13 earnings call. Linsert has served as CEO since 1989; Dubin has held a variety of positions including general counsel and CFO since 1992. Fourth-quarter revenue slipped 6% to $56 mil. compared to the fourth quarter of 2004, Martek reported, with income before taxes down 2% at $7.7 mil. Profit margin on product sales increased to 43% during the quarter due to DHA productivity improvements. Full-year sales grew 18% to roughly $218 mil. The firm expects improved Martek DHA, which launched in November, to lower manufacturing costs and to open new markets due to "enhanced food formulation capabilities"...