Royal’s De Zen passes the torch
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Entrepreneur Vic De Zen has announced he will retire in a few weeks from the building products company he founded,...
Entrepreneur Vic De Zen has announced he will retire in a few weeks from the building products company he founded, Royal Group Technologies Ltd. De Zen is currently chairman and co-chief executive officer of the vertically-integrated company, which produces plastic home improvement, consumer and construction products.
Douglas Dunsmuir will continue as president and sole CEO of Royal following De Zen’s retirement in December. De Zen will continue as chariman, but in a non-executive capacity.
De Zen expressed his confidence in Dunsmuir and Royal’s management team, and said he is “looking forward to spending more time with his family and friends.”
Royal had sales of $1.358 billion for the nin months ended June 30, 2003, but earnings have been affected by “high material costs and low capacity utilization”, Dunsmuir said in a press release reviewing third-quarter results.