A press statement from the company cited “personal reasons” for Yarkin’s resignation. In the interim, Peter Hasko of the Wolseley Private Equity Fund, the majority shareholders of Cartridge World, has taken on the role of executive chairman. Hasko is managing the day-to-day operations of the company. Cartridge World has started an executive search for a new CEO.
Yarkin had been CEO of Cartridge World since January 2003. In late 2008, Australian-based Wolseley Private Equity along with Yarkin and management in the U.S., Australia and the U.K., agreed to purchase controlling interest in Cartridge World.
“The management remains the same,” Yarkin said of the deal in an October 2007 interview with Recharger Magazine. “Having this new ownership structure will help us grow the business much faster. We will have more financial and strategic resources available to us. The next few years will be an exciting time for Cartridge World.”
To date, there are more than 1,700 Cartridge World franchised locations in 61 countries. In the United States, there are 630 locations.
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This article will be available online on 09/01/2008
