Chief Operating Officer Position To Be Eliminated
As Reporting Structure Is Streamlined
AUBURN HILLS, Mich., July 21 /PRNewswire-FirstCall/ -- Champion
Enterprises, Inc. (NYSE: CHB), the world's leading homebuilder, today
announced that Philip Surles has decided to retire from the Company, effective
July 31, 2003. Mr. Surles, 62, currently serves as the Company's Chief
Operating Officer, a position that will be eliminated upon his departure.
Al Koch, Chairman of the Board and President and Chief Executive Officer
of Champion, said: "Phil Surles has played an instrumental role in the growth
of Champion Enterprises during his 27 years of service to the Company. The
Company, the Board and I appreciate his many contributions and wish him well
in his future endeavors."
Mr. Koch continued, "When I arrived at Champion last month, my mandate
from the Board was to conduct a thorough review of the Company's operations
and accelerate the strategy to return the Company to profitability. As part
of my initial discussions with Phil and the other members of the senior
management team about these objectives, it became clear to us that the
organization had evolved to a point where the position of Chief Operating
Officer was no longer needed. It is a credit to Phil's character and loyalty
that he graciously suggested early retirement in conjunction with a
streamlining of the management reporting structure."
Upon Mr. Surles' departure at the end of July, those responsible for
Champion's manufacturing, retail, finance and marketing units will all report
directly to Mr. Koch.
About Champion Enterprises
Champion Enterprises, Inc., headquartered in Auburn Hills, Michigan, is
the world's leading homebuilder and has produced 1.6 million homes since the
company was founded. The company operates 34 homebuilding facilities and 115
retail stores, and provides consumer financing for purchasers of Champion-
built homes. Further information can be found using the company's website at
http://www.championhomes.net .
SOURCE Champion Enterprises, Inc.
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Related links:
http://www.championhomes.net
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/110861.html
CONTACT:
Investors/Media: Phyllis Knight, Chief
Financial Officer, +1-248-340-9090, or Colleen Bauman, VP,
Investor Relations, +1-248-340-7731, both of Champion
Enterprises, Inc.
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