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News

Husky

Husky Injection Molding Systems : 10 December, 2004  (Company News)
Company founder to step down as President and CEO in a year, will remain a director.
Robert Schad is stepping down as President and CEO of Husky Injection Molding Systems, the global company he founded in a Toronto garage more than 50 years ago.

While Schad did not name a successor, the company’s board of directors has put in place a committee to identify potential successors. Schad made the announcement at the company’s annual shareholders meeting in Toronto on 7 December.

“I have decided that within one year, I will be stepping down,” said Schad, 76, who will remain on Husky’s board of directors. “I believe we’re headed in the right direction. We have developed a strong product platform, solid global operations, we have the industry’s best customer support network and our leadership team is strong. I know I will be leaving the company in good hands.”

Born in Germany, Schad arrived in Canada in the early 1950s with $25 in his pocket and a letter of reference from family friend Albert Einstein. Schad founded Husky in a garage in 1953 and built the company into the world’s leading supplier of injection moulding equipment and services to the plastics industry. Today the company is a US$774 million business with customers in more than 100 countries.
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