Business briefs 12/22/05
Thursday, December 22, 2005
Doe Run announces management changes
ST. LOUIS -- Jeffrey Zelms will retire as president of The Doe Run Co. on Jan. 1, and as its vice chairman and chief executive officer on April 1, the St. Louis-based natural resources company said Tuesday. Bruce Neil, president of Doe Run Peru, will succeed Zelms as president of The Doe Run Co. and relocate to St. Louis. He'll also take over as CEO in April, company officials said. Doe Run, the largest integrated lead producer in North America, said it promoted Juan Carlos Huyhua to general manager of its subsidiary, Doe Run Peru. In April, he'll become the subsidiary's president. Marvin Kaiser, chief administrative officer, is retiring in February.
Sara Lee delisting shares from European exchanges
CHICAGO -- Sara Lee Corp. said Wednesday it will delist its shares from several stock exchanges in Europe because of low trading volume. The maker of Sara Lee breads, Douwe Egberts coffee and Jimmy Dean sausages said following a vote by its board of directors that its shares will be delisted from exchanges in Amsterdam and Paris on Jan. 31 and Switzerland on March 21. They will continue trading on the New York, London, Chicago and Pacific stock exchanges. Sara Lee's bakery division is headquartered in St. Louis.
Praxair declines alternate St. Louis location
ST. LOUIS -- Six months after a spectacular fire raised concerns about a Praxair Distribution Inc. plant in a largely residential neighborhood, the company said Wednesday that an alternate location proposed by the city is unacceptable. A June 24 blaze closed down nearby Interstate 64 and tossed large tanks hundreds of feet into the air and into yards of homeowners living near the plant. There were no serious injuries, but residents of the Lafayette Square neighborhood near the plant have expressed strong opposition to allowing the industrial operation to remain. Mayor Francis Slay's office has been working to find a new location for the plant.
Criminal investigation targets Wal-Mart
LITTLE ROCK, Ark. -- Wal-Mart Stores Inc. is the target of a criminal investigation over how it handled merchandise that is classified as hazardous waste, the company said Tuesday. The retailer said in a regulatory filing that the investigation centers on the company's transport of hazardous materials from stores in California to a return center in Las Vegas. The company said its practice is to move hazardous materials to return centers, then take the materials to sites approved for hazardous waste disposal.
-- From wire reports