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Sunbeam-Oster Elects Roger Schipke Chairman And CEO

August 2, 1993

PROVIDENCE, R.I. (AP) _ Appliance maker Sunbeam-Oster Co. on Monday named Roger Schipke, the head of a Maryland-based homebuilder, Ryland Group Inc., as its chairman and chief executive.

Charles Thayer, who served as chairman during the search process, said Schipke, 56, was elected over the weekend and would begin his new job immediately.

Thayer, 49, said he would continue to serve on Sunbeam-Oster’s board and stay on as vice chairman to assist with management transition.

Sunbeam’s previous chairman, Paul Kazarian, was fired by Sunbeam’s board in January, after top executives complained about his management style. Kazarian was removed from the board in March.

Kazarian sued the company, but the lawsuit was settled last month when Sunbeam repurchased 12.4 million shares from Kazarian for $173 million and paid him $3.9 million in severance.

″All those issues are history,″ Thayer said. ″The objective now is to grow the company.″

Schipke had been chairman, president and chief executive officer of Ryland, a home-building and mortgage banking company based in Columbia, Md., since 1990.

Before that, Schipke spent 29 years with General Electric, ultimately serving on the GE Corporate Executive Council as senior vice president of the company’s appliances division.

Under his management, that division’s revenues grew in eight years from about $2 billion to approximately $5.5 billion, the board said.

″Roger Schipke’s recognized leadership in the consumer products industry, his global vision and proven management talents mean a great deal to the employees, shareholders and communities in which Sunbeam-Oster operates,″ Thayer said.

″The board of directors is very pleased that Roger accepted the opportunity to continue building Sunbeam-Oster as a world-class consumer products company,″ he said. Schipke released a statement saying, ″I am leaving the exciting and growing home-building and mortgage banking businesses at Ryland only for the opportunity afforded by Sunbeam-Oster to return to my roots in the consumer products business.″

Providence-based Sunbeam-Oster manufactures and markets a variety of outdoor, household and specialty products.

Ryland, meanwhile, said its board had elected director Andre Brewster to succeed Schipke in an interim basis.

Brewster is a partner in the law firm of Piper & Marbury, counsel to Ryland, and has been on the Ryland board since 1977.

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