United Stationers Inc. (USTR) named Fareed A. Khan as its new
chief financial officer, marking the latest executive shakeup at
the business products distributor.
Fareed A. Khan, 45 years old, most recently served as executive
vice president of finance and strategy at building materials
company USG Corp. (USG), where he worked for 12 years. He has also
worked as a consultant with McKinsey & Co.
Khan replaces Victoria Reich, who announced her resignation late
last year.
In December, the company announced the retirement of its chief
executive, Richard W. Gochnauer, 61, as of December. President P.
Cody Phipps, 48, was named as Gochnauer's replacement.
For the most recent quarter, the company reported higher profit
and revenue, results that come on the heels of announced efforts to
control costs and trim staffing levels.
Shares closed Monday at $33.13 and were inactive premarket. Year
to date, the stock is up 4%.
-By Mia Lamar, Dow Jones Newswires; 212-416-3207;
mia.lamar@dowjones.com
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