sharper image ceo, founder is ousted - better air purifier

In the conference room of the upscale San Francisco hotel
Sharper Image Corp, a US-based retailer.
On Tuesday, the company said it had ousted its founder and chief executive Richard telheimer as sales and share prices fell.
The board replaced 58-year-
Old telleheimer has led the company for nearly 30 years and owns Jerry W, one of its own companies.
Levin as interim chief executive
This year, Levin helped engineers overhaul the board. Sharper Image --
Known for its 191 stores and smooth catalogues selling massage chairs and noses
Hair dryer and ion Breeze air purifier--
Had a difficult financial year.
Investors seem to be happy with the change on Tuesday.
Shares of Sharper Image rose 96 cents to $10. 33.
"Investors say it's time to change," said Ivan Feinseth, research director at Institutional research and brokerage firm Matrix USA.
"They are looking for new leadership to move the company in a different direction.
"The board's decision came after months of turmoil in the company.
Sharper Image barely avoided acting against the Cavaliers, who had 12 people at the time.
8% of the company
According to a SEC document, the company argues that a clearer image is plagued by misleading advertising, lack of product development and financial discipline issues.
To avoid a proxy war, the company agreed to a board reshuffle --
Four board members, including his father, were ousted.
Six new members were added, including Levin and two other Cavs.
Levin was appointed chairman of the board this week.
Even after these changes, share prices continue to fall.
The company's sales fell for six consecutive quarters, with a net loss of $15.
The financial year ended January was EUR 6 million.
31, in contrast to the income of $14.
7 million of the previous year.
Other industry analysts say the company needs a better portfolio.
"They just didn't really bring anything into the store and it's generally felt like they really needed to have it," said Joan storm, an analyst at Wedbush Morgan Securities in Los Angeles.
"People like to go in and try chairs and other interesting things, but lack of buying.
The company also announced the news.
18, it will be three-
During the one-year period ending on January 2006.
After disclosing that dozens of companies may have withdrawn options grants to increase their value, the company began reviewing its options practices.
The company declined to comment further on stock options or Taylor's role in it on Tuesday, saying it was inappropriate to comment before the investigation was completed.
In its announcement on Tuesday, the company stressed that Levin has experience in turning the company around.
He served as CEO of American family company. (
Original Sunshine company)
And the CEO of the company. and Coleman Co.
Although Tuesday's statement did not surprise analysts, it marked a huge change in the company's brand, which is synonymous with Alzheimer's.
His face brightened its catalogue, he appeared in its message advertisement, his founding story was painstakingly detailed on its website, and the website also sold him
"In the fiscal year ended January, Thalheimer was paid $990,000. 31.
He cut his salary by 50% in the current fiscal year.
As part of the separation agreement, the company said he would receive at least $5 million and retain a 21% stake in the company, meaning he would still have a place on the board.
Analysts say the role of Taylor will inevitably change.
He has always been a relatively active CEO. -very hands-
As far as I know, "said Richard Weinhart, a BMO Capital Markets analyst in New York.
"But I think he has at least shared some responsibility since the board reshuffle --"
Approved on July.
A Yale graduate, Arkansas, who opened a stationery store at the age of 24, called it "a clearer image ".
After receiving a degree in law from the University of California, Berkeley, he returned to the field of merchandise sales and entered the market in 1977 with his waterproof runner watch advertised in magazines.
Since then, the company has added an email
Order catalogues, websites and hundreds of trendy gadgets such as fresher miracle food storage containers.
The company went public in 1987.
Analysts said the company was more successful from 2001 to 2004, but it has fallen sharply due to problems involving the store's product line.
One of the biggest problems is its reliance on ion Breeze air purifiers, which analysts say could account for between 30% and 45% of the company's sales.
The consumer report noted that version 2005 of the product was invalid, and analysts Storms said sales of purifiers and massage chairs for another large product of the company were declining.
Reliance on both products makes it impossible for the company to innovate and develop new product pipelines, Storms said.
"They have become franchises for Father's Day gifts," said David Brodi, a clearer image client and management partner at Los Angeles north Venture Partners.
Companies based in early helpand mid-Stage Company.
Brody has a nose of the company-
Last year, the trim gave the store a $50 gift certificate, but couldn't find anything he wanted to spend there. "An umbrella for $50? A plug-
Coffee heater in car charger? " he said.
"They don't have what you need. "*alana. Semuels @ latimes.
Com * start text of infoboxA Togh stretchCompany in glancefoundation: 1972 HQ: San Francisco staff: 2,500 retail operations: 175 USAS.
Plenty of products sold in stores, catalogues and online: No contact trash can ($99. 95)
Loff handler abdominal exercise device ($249. 95), i-
IPod Dog Music partner ($34. 95)
Robot floor vacuum ($279. 95)
Market value: $154.