TruServ names new CEO, restructures corporate staff
TruServ Corp., a member-owned wholesale cooperative, recently named Donald J. Hoye as its new chief executive officer. Hoye most recently served as president and chief operating officer and will retain his position as president. Daniel Cotter, former chairman and CEO, will continue as chairman until his retirement in late 1999.
The company also announced that it will restructure and streamline its corporate staff in order to complete a 20-month strategic plan to merge the True Value, ServiStar and Coast to Coast organizations. This will be accomplished through reorganization of the corporate staff, a 15% reduction in staff through attrition, the elimination of duplicate functions and voluntary early retirement, and the closing of satellite support offices in Chicago and Schiller Park, Ill.