This article was originally published in The Tan Sheet
President Steve Dubin will succeed Henry "Pete" Linsert as CEO of Martek June 30 upon Linsert's retirement, the firm announces during a Dec. 13 earnings call. Linsert has served as CEO since 1989; Dubin has held a variety of positions including general counsel and CFO since 1992. Fourth-quarter revenue slipped 6% to $56 mil. compared to the fourth quarter of 2004, Martek reported, with income before taxes down 2% at $7.7 mil. Profit margin on product sales increased to 43% during the quarter due to DHA productivity improvements. Full-year sales grew 18% to roughly $218 mil. The firm expects improved Martek DHA, which launched in November, to lower manufacturing costs and to open new markets due to "enhanced food formulation capabilities"...
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