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Maytag Chairman, CEO Resigns Over Company Outlook

November 10, 2000
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Des Moines, Iowa -- Maytag Corp. chairman and CEO Lloyd Ward has resigned over "a difference with the board of directors over the company’s strategic outlook and direction," the company said in a statement. Maytag brands include Maytag, Hoover, Jenn-Air, Magic Chef, Blodgett and Dixie-Narco.

Meanwhile, Leonard Hadley, predecessor to Ward, was called back from retirement to serve as interim president and CEO.

Ward was named president at Maytag in 1996. The company hired him away from PepsiCo Inc. where he had worked as president of Frito-Lay's central division. Although Maytag leaders are usually promoted from inside, Hadley, who had been chairman for seven years and had been with the company since 1959, said his successor should be brought in from the outside.

Ward was appointed chairman and CEO on Aug. 12, 1999, upon Hadley's retirement.

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