ACCO board member resigns

30 November 2006 — Lincolnshire (IL): ACCO Brands has announced that Forrest Schneider has resigned from its board of directors.

Schneider serves as president and CEO of Lane Industries, the former principal shareholder of General Binding Corporation, which merged with the former ACCO World subsidiary of Fortune Brands last August to create ACCO Brands Corporation.

 

Over the past 14 months, in a series of transactions, Lane Industries has reduced its holdings in ACCO Brands to approximately 5 percent of the company’s outstanding shares.

 

Given Lane Industries’ reduced ownership stake, Schneider has advised the company that he now wishes to focus more of his activities on Lane Industries’ other business interests.