Matrixx announces retirement of chief exec

SCOTTSDALE, Ariz. Matrixx Initiatives on Wednesday announced that president and chief executive officer Carl Johnson will be retiring from the company, effective Oct. 31.

“[Johnson]’s contributions to Matrixx cannot be overstated,” the company said. “Under his leadership, [Matrixx] has experienced a 30 percent compounded annual growth rate in revenues and sustained profitability. The Zicam brand has ranked in the top three brands for growth in the cough/cold category for the past six consecutive years.”

William Hemelt, who joined Matrixx in 1998 and currently serves as the company’s executive vice president and chief financial officer, will assume the additional roles of acting president and chief operating officer, with responsibility for the day-to-day management of the company, until the completion of the company’s chief executive search.

Johnson has agreed to serve as a consultant to Matrixx until March 31, 2009, the end of the company’s current fiscal year, to assist with transition items.