Interesting developments continue at The Martin Group: Harvey Hazelwood, chief executive of Martin Professional, the Hollywood, FL-based US subsidiary, resigned from his position in January. Until further notice, the remaining members of the Martin USA management group--vice president Troels Volver, chief operating officer Woody Smith, and chief financial officer Karsten Petersen--will be in charge of day-to-day operations.
This latest move came less than two weeks after the company announced that company founder Peter Johansen had stepped down as managing director of The Martin Group, apparently in the wake of controversy surrounding press reports in Denmark suggesting that the company had provided unsound financial reporting to the Copenhagen Stock Exchange. Martin denied the charges, but Johansen and the board of directors felt that the controversy was focusing too much negative attention on the company and on Johansen in particular.
The Martin Group would not specify the reasons behind Hazelwood's departure, but sources say it was a mutual decision for both parties.
In an unrelated story, the company also revealed that Poul Dalsgaard had resigned from his position as marketing manager earlier in the year. But in the wake of Johansen's resignation and other internal changes within the company, Johansen himself apparently convinced the new management team to persuade Dalsgaard to return. He now continues as marketing manager with the company.