Polymer Group, Inc. announced that Robert Kocourek, chief financial officer (CFO), will resign from PGI to pursue other interests. Mr. Kocourek will continue as PGI's CFO until the company files its Form 10-Q for the period ended October 3, 2009.To ensure an orderly transition, Mr. Kocourek has agreed to remain with PGI as senior advisor to the CEO until no later than April 16, 2010 during which time he will assist with a smooth transfer of his responsibilities. Until a permanent replacement for Mr. Kocourek is named, Keith Hall, 55, a member of PGI's board of directors, will be named as interim CFO. PGI has initiated a search process for the position of CFO and is considering both internal and external candidates.
"On behalf of PGI, I would like to thank Bob for his many contributions during his tenure here. We wish him the best of luck in his future endeavors," said Veronica Hagen, chief executive officer of PGI. "We are fortunate that Keith is on our Board and able to step in with public company experience as CFO while we complete our search for a permanent replacement."
Mr. Hall, a PGI board member since December 2008, brings over 30 years of experience to his position on PGI's board of directors where he serves as chairman of the capital projects committee and as a member of the audit committee. He was previously CFO of LendingTree, LLC when he retired in 2007. In addition to LendingTree, Mr. Hall served as CFO for two NASDAQ-listed software and services companies, Legent Corporation and Broadway & Seymour, Inc.He also was CFO of the global, NYSE-listed, specialty-chemical company, Loctite and CFO for a $3 billion division of United Technologies Corporation.