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Kinkos CEO Resigns, Investor Principal Takes Temporary Helm

Press release from the issuing company

2/9/01 -(WhatTheyThink) Kinko's CEO Joseph Hardin, Jr. has stepped down as of January 9. Hardin was replaced on an interim basis by George Tamke, a principal at Clayton, Dubilier & Rice and former vice chairman and co-chief executive officer of Emerson Electric Co. Clayton, Dubilier & Rice owns 41% of Kinko’s via funds they manage. B. Charles Ames, also a CD&R principal, continues to serve as chairperson of the Kinko's Board of Directors. Maggie Thill, public relations manager at Kinko’s said the decision was mutual between Hardin and the board. Hardin has not announced his plans at the time of this story. Hardin came to Kinko’s from WalMart in 1997. He was the CEO of the SAM’S Club division. According to Kinko’s, Hardin transformed the company into a digitally connected firm with over 1,100 branches. Maggie Thill said he was a true asset to the company. “Joe took us where we needed to go. Kinko’s is a better company because of his leadership.” Kinko’s is currently searching for a new CEO and has formed the customary committee. Thill continued, “We are looking for someone to continue our growth and to take us to the next level. During the transition, George Tamke will serve as interim CEO. He is ‘hands on’ and has a very thorough understanding of the business.” Tamke has more than thirty years of business and management experience, He was president of Cullinet Software and most recently, he served as vice chairman and co-chief executive officer of Emerson Electric Co. Kinko’s was named for the third-consecutive year as one of Fortune's 100 best companies to work for in America and is privately held. According to sources within the company, Kinko’s has annual revenue of nearly $2 billion. They have more than 25,000 co-workers, and locations in nine countries. Kinko's is headquartered in Ventura, Calif.

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