Lexmark shakes up top management
Lexmark International announced a shakeup of its top management Friday, moving the head of its struggling inkjet division to an open position in Europe, where he had previously worked for the company. Replacing him will be the chief of the company’s laser printer division, a division that rebounded quickly after a slump in 2005.
Industry observers praised the move, noting that Paul Rooke’s success in the laser division is much needed in inkjet, which dragged down the company’s second-quarter earnings and is expected to do the same in the third quarter.
“This is a good time for the company to go in another direction,” said Tom Carpenter, a vice president and senior equity analyst at Hilliard Lyons in Louisville. “They have struggled in inkjet the past couple of years, and Rooke brings some experience in an area that has been more successful.
“If he can fix the inkjet unit, it’s quite possible he could be the next CEO of Lexmark.”
