Jeffrey Hollender forced out of Seventh Generation

first_imgSeventh Generation,Jeffrey Hollender, co-founder and former CEO of Seventh Generation, has been removed as director of the company and his employment has been terminated, according to a spokesperson for the company. The story was first reported by www.greenbiz.com(link is external).Chrystie Heimert told Vermont Business Magazine that the board of directors announced the decision regarding Hollender on October 26. The closely held company is employee owned. Heimert said Hollander and his wife, Sheila, who will remain as an employee and on the board, are still major shareholders in company. Hollender had helped start the company 20 years ago, took it public, then engineered a plan to return it to a private, employee-owned company.Greenbiz.com released an email it said was sent from Hollender to a friend that said, in part, that he was removed from the board and terminated ‘without cause.’ He also said he could not discuss ‘the unpleasant circumstances that led to this.’Fortune Magazine writer, author and Hollender friend Marc Gunther posted the board’s letter and Hollender’s email on his Web site. Heimert said Hollender was removed from the company because there was an issue of leadership. Chuck Maniscalco was Hollender’s hand picked successor, but she said the board did not feel it was “clear and unambiguous” as to who was leading the company.The board’s letter says that Maniscalco tendered his resignation in September, but that the board persuaded him to stay on. The letter also said that Hollender was put on a leave of absence in September. The letter and email are pasted below.Heimert confirmed that when Hollender turned over leadership of Seventh Generation in June 2009 to Maniscalco that a separation agreement between Hollender and the company was put in place and then exercised in October. She also confirmed that Hollender was put on a leave of absence in September. She said she could not release the board letter, but referred Vermont Business Magazine to Gunther’s blog.Maniscalco, she said, will remain as CEO of the company until a new CEO is chosen. Heimert said Maniscalco is now in the process of deciding whether he wants to continue in that role and apply for the job he is currently holding. Seventh Generation, based in Burlington, markets environmentally safe household and personal-care products. www.seventhgeneration.com(link is external)Heimert told Vermont Business Magazine that Seventh Generation employs about 80 in Vermont and a little over 100 system wide; it reported revenues to VBM of $138 million in 2008. Gunther’s blog cited 2009 sales of $150 million.Hollender Email: More than two decades ago, I founded Seventh Generation with the idea of creating a different way of doing business.  Since then, the company has established new benchmarks for ethical and sustainable corporate behavior, grounded in the principles of employee ownership, pay equity, environmental responsibility and transparency.  At the same time, Seventh Generation is a recognized pioneer in its category and a successful business enterprise.On Monday, October 25th, the Seventh Generation Board announced to it’s shareholders and employees that they have ‘decided to end the company’s employment relationship’ with me ‘. . .without cause’.   Though I cannot discuss the circumstances that led to this, I wanted you to hear this news directly from me. [I have also attached the letter that was sent out by the Company.]Over the past twenty years, I have had the privilege to work with an extraordinary group of committed, talented people ‘ and I thank them all and wish them the best. I plan to remain fully engaged in the work of creating a new paradigm for justice, equity and corporate responsibility through my new book, Planet Home that will be published by Random House in January 2011; my work on the boards of Greenpeace and Veritee; and in my role as the co-founder of the American Sustainable Business Council.I greatly appreciate your support and friendship over the years.Board letter:October 26, 2010Dear Friends and Shareholders of Seventh Generation,In the life of every company, there comes a time when the most difficult of decisions must be made. These moments are rarely deliberately sought but instead thrust upon us by unexpected circumstance and by events, which demand that hard choices be made.Recently, the Board of Directors of Seventh Generation faced such a decision and was forced to act in what we firmly believe to be the best interests of both our company and you, its shareholders. First, I want to offer you some context. In mid September, Chuck Maniscalco, our CEO since June 2009, resigned after a very difficult period. Following lengthy discussion the Board convinced Chuck to stay to lead the company at least through a transition while the Board immediately commenced a search for a new CEO. Chuck is personally committed to and focused on leading our company through this transition period, and is considering applying for the job of leading Seventh Generation as part of our search process. We are all committed to having the best leadership we can for our company.With that as background, I want to share with you that, following our September meeting, the Board of Directors reluctantly voted to put Seventh Generation co-founder Jeffrey Hollender on a leave of absence from the company and to remove him from the Board pending further discussions about his future role. Since that time, and after further deliberation, the Board has decided to end the company’s employment relationship with Jeffrey. Importantly, when Jeffrey stepped down as CEO, he negotiated an agreement with the company that allowed for the termination of his employment and provides him with generous severance and other benefits were his employment to end. We have honored that agreement to date, and we intend to honor that agreement going forward. And, I want to assure you that the board, in making these decisions, did so with the best interests of the company, as well as fairness to Jeffrey in mind.All of this was difficult, and I must emphasize that these decisions were not taken lightly. As the leader of the company since its very earliest days and its philosophical guiding light for over two decades, Jeffrey has been an integral part of our brand and an obvious lynch pin of our success, our unique corporate spirit, and our much acclaimed emphasis on equity and justice in the way we conduct our business. It is no overstatement to say that without his unwavering dedication to our cause and his tireless efforts on our company’s behalf, we would not be the company we are today, and indeed might not be here at all. His is a legacy worthy of the highest respect and admiration, and nothing in our recent decision should dim that in any way.Nevertheless, recent events have forced us to choose between divergent paths. We have elected to set the company on the one we strongly feel has the very best chance of fulfilling the commitment we’ve made to all our stakeholders to achieve the greatest possible lasting success, financially but especially in terms of making our world a better, safer place for our children and the following seven generations.To a large extent, present circumstances mirror those at many other companies whose founders have made the decision to turn over the reins to someone else. As organizations grow, so do their managerial requirements. Eventually these increasing layers of complexity demand the recruitment of experienced professional leadership whose abilities and experiences are required to move forward. This is the crossroads at which Seventh Generation now stands.And that is an important point that must be made: Though our leadership has changed, our aspirations have not. It remains our objective to continue to grow Seventh Generation while staying true to the strategies we’ve previously shared with you over the years. We believe deeply in our business and its model, and will continue to do all that is within our power to drive our business, our social mission, and our global imperatives forward.Despite this period of executive transition, the Board remains confident in the company’s ability to continue to grow its business and social mission for long-term success. Our accomplishments over the past year are numerous, and each reflects the company’s ongoing commitment to corporate responsibility and to growth. These important milestones include:‘Achieving three consecutive quarters of growth despite an extraordinarily challenging economic and competitive landscape. Year-to-date, our sales have grown at a double-digit pace, which would be the envy of many of our competitors during this extraordinarily challenging economic landscape.‘Successfully introducing the first ever EPA-registered botanical disinfectant cleaner.‘Launching our first-ever national advertising campaign, which more than doubled awareness of toxic cleaning product issues as well as our brand itself.‘Expanding our already extensive distribution base to include Safeway and also Wal-Mart, a partnership that accelerated our commitment to make green products affordably accessible to more consumers.‘Increasing our involvement with Women’s Action to Gain Economic Security (WAGES) in order to more effectively address our economic equity concerns.‘Marshalling public support for reform of the badly outdated Toxic Substances Control Act.‘Engineering the first cleaning product packaging made from 90% post-consumer recycled content.‘Successfully completing a $30 million equity capital raise with a group of investors aligned with existing shareholders as responsible, long-term stewards of the Seventh Generation brand.Change is always difficult, and this particular evolutionary moment has certainly been more challenging than most. What matters, however, is not what has happened but what will happen. On this count, the Board is confident that it has taken the steps necessary to ensure that Seventh Generation’s untapped growth potential is fully realized in the years ahead. As we move into that promising future, we continue to express our thanks for everything Jeffrey has done for us and for the company he has built. That company has a rewarding road ahead of it indeed, but this success cannot and does not depend on any one individual. Instead it springs from the unique synergy that comes when many act together to realize a singular ideal. That’s the task before us now, and with your continued help and support, I’m certain we’ll achieve it.Respectfully,Peter GrahamChairmanRELATED:Marc Gunther Blog with letter to employees and Hollender email:http://www.marcgunther.com/2010/11/01/seventh-generation-sweeps-out-its-…(link is external) Greenbiz.com Story:http://www.greenbiz.com/blog/2010/11/01/seventh-generation-fires-chief-i…(link is external) Burlington Free Press story:http://www.burlingtonfreepress.com/article/20101102/NEWS01/101102022/Sev…(link is external)center_img 2003 Vermont Business Magazine Profile of Jeffrey Hollender and Seventh Generation:http://vermontbiz.com/article/june/jeffrey-hollender-and-seventh-generationlast_img read more

Novatek to invest in offshore construction yard in Murmansk

first_imgRussian energy firm Novatek has signed a memorandum of understanding to invest in an offshore facilities construction yard.The company, one of Russia’s largest private gas producers, said the MoU was signed as part of 21st Saint Petersburg International Economic Forum regarding a special investment contract with the Ministry of industry and trade and the Murmansk Region Government.According to the Memorandum, the parties intend to sign a tripartite special investment contract on creating a center for the construction of large-scale offshore structures in Belokamenka, located in Murmansk region.The Chairman of Novatek’s Management Board Leonid Mikhelson said: “To efficiently develop our vast resource base in the Far North, decrease construction cost and increase the competitiveness of our future LNG-project, it is very important to create a center to construct large-scale offshore structures in Russia. With the construction of the Kola Yard we plan to meet the challenge of maximizing the localization of production of LNG-plants based on the gravity-based structures, readymade for producing LNG.”To remind, early in May, Novatek signed a framework agreement on strategic cooperation with TechnipFMC, Linde AG and Research and Design Institute for Gas Processing (NIPIGAS).The parties agreed upon the main conditions for designing and developing future LNG plants based on gravity-based structures for Arctic LNG 2 as well as subsequent Novatek’s LNG projects.Novatek’s also signed the license agreement with Linde AG to purchase Linde’s license on natural gas liquefaction technology for Arctic LNG 2 project.Offshore Energy Today Stafflast_img read more

India 2020: NFF tasks Flamingos ahead re-match with Guinea

first_img Promoted Content20 Celebs With Bizarre Hidden Talents And Skills14 Hilarious Comics Made By Women You Need To Follow Right NowEver Thought Of Sleeping Next To Celebs? This Guy Will Show YouThe Best Cars Of All Time33 Celebs Photos From Their Childhood: Will You Recognize Them?Amazing Portraits Of Women As Zodiac Signs6 Incredibly Strange Facts About Hurricanes5 Of The World’s Most Unique Theme Parks8 Superfoods For Growing Hair Back And Stimulating Its GrowthWhat Happens To Your Brain When You Play Too Much Video Games?Is This The Most Delicious Food In The World?Who Is The Most Powerful Woman On Earth? The nation’s female U-17 side the Flamingos, have been told to avoid distractions and maintain momentum as they seek qualification for this year’s FIFA U-17 women’s world cup in India. First Vice President of the Nigeria Football Federation Seyi Akinwunmi who gave the charge noted that the Nigerian lads have all it takes to rattle their opponents but must remain focused to prove that they the team to beat. He hailed the girls for making mincemeat of their Guinea counterparts in the first leg of the first round in Conakry. First Vice President of NFF Seyi Akinwunmi addressing victorious Flamingos He however avoided giving the girls handshakes or high fives, preferring to offer them the now popular Covid-19 greeting which has been forced on all and sundry by the ravaging effect of Coronavirus.Advertisement The Flamingos returned to Lagos Monday afternoon after a 6-1 demolition of their Guinea counterparts in Conakry. Three countries will be representing Africa at the World cup billed for India November 2nd -21 in five cities of Bhubaneswar, Kolkata, Guwahati Ahmedabad and Navi Mumbai. The Flamingos will host Guinea in the second leg of the first round on Saturday at the Agege Stadium. Read Also World Cup Qualifier: Olowookere picks 18 for Guinea Osun Babes striker Yemisi Samuel who grabbed a hatrick in the first leg at the September 28 Stadium in Conakry will no doubt be looking forward to re-enacting the feat in front of home supporters. FacebookTwitterWhatsAppEmail分享 center_img Loading… last_img read more

Left on base: Despite efforts to bring baseball back to Syracuse, obstacles prevent real progress

first_imgJohn DeFrancisco made his case to reinstate the Syracuse baseball program on four separate occasions. A New York state senator and 1968 SU baseball captain, DeFrancisco tried to shed light on the sport’s significance in college athletics to the university’s administration. Former Chancellors Melvin Eggers and Kenneth ‘Buzz’ Shaw dismissed his plea without much thought. Nancy Cantor, the chancellor since 2004, showed interest but ultimately followed the actions of her predecessors. When Athletic Director Daryl Gross arrived, DeFrancisco tried again. This time was different. ‘He basically said we should have a baseball team, and I’ll do what I can to make it happen,’ DeFrancisco said. But despite Gross’ interest in the possibility, baseball remains a retired sport at Syracuse seven years into his tenure. When the Orange officially joins the Atlantic Coast Conference – right now set for the 2014-15 athletic season – it will be the only school in the 14-team league without a baseball program. Regardless of the ACC’s proud tradition and reputation as a national powerhouse on the diamond, though, SU will only be required by the ACC to field a football, men’s and women’s basketball, and either a women’s soccer or women’s volleyball team, an ACC spokeswoman said.AdvertisementThis is placeholder text In his seven years, Gross ended the men’s and women’s swimming programs and added a women’s ice hockey program that just finished its fourth season of competition. The athletic director has also looked into adding men’s ice hockey in that span, keeping an open mind to possibilities for the future of Syracuse athletics. But he also must keep his focus on the programs currently competing. Gross ‘expressed that he will always explore new ideas to enhance our program, but we (athletics department) have a responsibility to be fiscally sound and in compliance with Title IX,’ Sue Edson, assistant director of athletic communications, said in an email to The Daily Orange. Gross could not be directly reached for comment. Syracuse University discontinued its baseball program in 1972. The school’s first interscholastic sport lasted 94 years before budgetary restrictions and a change in the academic calendar doomed America’s pastime at the university for the last 40 years. Money and Title IX are among the main reasons baseball remains in Syracuse’s past. The cost to start a program that will likely lose money is too steep, and SU must keep an even balance of athletic scholarships for men and women. If the university adds a men’s sport, it would probably have to add a women’s sport. Though money ended baseball’s run at SU, a shortened academic year that ended in April 1973 didn’t help matters. Still, it all came down to the bottom line. ‘I’m sure that money was the bigger factor because everybody in the United States has a shorter season, and they all seem to still be playing,’ said Dick Woodridge, a pitcher on the final Syracuse baseball team. In the decades that followed, each chancellor left DeFrancisco with the same impression. ‘It’s really a question of money,’ DeFrancisco said. ‘Baseball brings in no money.’ About five years ago, though, Doug Halliday reinvigorated attempts to bring baseball back to SU. Halliday, a local plastic surgeon and baseball enthusiast, had nearly every obstacle accounted for, from finances to a coaching staff to complying with Title IX. He met with Gross twice to sell him on his vision for Syracuse baseball. Halliday said about 20 families, local businessmen and doctors vowed to raise money to start a program. He planned to help out, too, donating all revenue from Botox sales to the cause. He estimated a $200,000 donation could help the team get off the ground for the first year, paying for uniforms, equipment and other expenses. ‘I felt you could develop funding long term with donations, but get a program now and start working with it, have a shoestring budget and you could get it done, and I think it would grow,’ Halliday said. To save money, Halliday’s grassroots campaign included provisions for a volunteer coaching staff led by Woodridge, now the co-founder of Sports Zone, a training facility for amateur baseball players in Central New York. Woodridge has helped 25-30 players sign professional contracts throughout the years, and 91 players he has worked with have earned Division-I scholarships since 2004. With his experience and knowledge of local amateur baseball, Woodridge said he was willing to get involved either as a coach or as an adviser and supporter to help bring life back into the program. Halliday asked him if SU would attract the Division-I talent in the area. ‘Well, certainly they would,’ Woodridge said. ‘I think it would be a big draw. It would be a great draw, especially to start a program.’ Steve Grilli, who Halliday also envisioned as a part of the coaching staff, knows the appeal to play at home in college can be a powerful recruiting tool. Grilli, a major league pitcher in late 1970s, said his son and Pittsburgh Pirates pitcher Jason Grilli considered Le Moyne College before deciding to attend Seton Hall from 1995-97. Grilli said his son likely would have considered SU for that reason if it had a program. And the ACC would only add to the intrigue now. ‘I think it would play into the fact that the kids would say, ‘Yeah, I’d like to stick close to home because it’s a D-I program, it’s an ACC program, which would be challenging,” Grilli said. ‘The ACC is known for some of the better baseball schools.’ Halliday proposed starting a women’s cross-country skiing program to account for Title IX. With top-notch facilities less than 60 miles from Syracuse, in Osceola, Halliday felt it was a perfect match. With an ideal climate in Central New York, SU could be competitive immediately in a sport in which only 21 NCAA programs qualified to compete for the 2012 NCAA Championship. But that program would also come with expenses. Like DeFrancisco, Halliday described Gross as receptive and even excited by the idea of baseball at Syracuse. But in the end, the excitement didn’t outweigh the challenges. Gross pinpointed $800,000 as the average cost to run an elite baseball program each year, Halliday said – well above the $200,000 he felt was attainable. Woodridge said the university would need to back it, and it would need a stadium to play its home games. And Halliday admits a salaried coaching staff would eventually be needed for a program to take off. ‘You could tell he’s a baseball guy and would love to have baseball, but I think he was kind of stuck at getting an endowed program,’ Halliday said. ‘And I think what he didn’t want was to have a program that was a drain on the budget and also that could potentially be a losing program at the time.’ Gross is focused on getting every current program to compete at an elite level. Adding another program requires Gross and his staff to conduct an analysis on a wide range of factors, including financial aid and allocation of scholarships. ‘Our focus as an administration and Dr. Gross’ focus is to have a great group of head coaches in place,’ said Jamie Mullin, associate athletic director for team services, ‘which he’s done, and then continue to provide them with the operational resources necessary to compete at a high level. So that’s really our focus and that’s really Dr. Gross’ focus.’ While Gross and his staff continue to put their energy into their teams, the ACC has started to prepare for having an odd number of baseball programs in the conference. With Pittsburgh joining, the conference will have 13 members, leading to possible changes in the regular-season schedule and conference tournament. Currently, the teams play 10 of the conference members, missing one opponent during the regular season. And the ACC tournament features the top eight teams. Boston College head coach Mike Gambino said the options being discussed by the conference for the future include playing every conference member or missing two during the regular season, and the conference tournament could stay at eight or expand to 10. ‘I think there will be some changes in our conference because of it,’ Gambino said. ‘But I think overall it’s a great move for our conference.’ DeFrancisco and Halliday, among others, hope the move to the ACC, though it doesn’t require baseball, generates more discussion surrounding baseball at Syracuse. After failing to see any progress made on his previous four attempts, DeFrancisco is ready to try a fifth, eager to see if the change in conference affiliation makes a difference. ‘(Since) it was first announced that Syracuse was going to go into the ACC,’ DeFrancisco said, ‘I have a note to myself to meet with the chancellor and to meet with Gross to talk about it and see what impediments they now are going to claim for baseball.’ rjgery@syr.edu Comments Published on April 16, 2012 at 12:00 pm Contact Ryne: rjgery@syr.educenter_img Facebook Twitter Google+last_img read more