CEO Peden Resigns at Arboritec USA

On Thursday, Arboritec AB announced that its president and CEO of operations in the United States, Ron Peden, resigned in March and that he had left his position as of June 30.

In a statement, Jorgën Kaldemark, president and CEO of Arboritec AB, said Peden resigned so that he could focus more on "other business endeavors as well as be a more active member of two board of director positions he holds."

Peden spent three years in the lead post of Arboritec USA. "During that time Arboritec has enjoyed developing a strong distribution network and creating awareness of the Arboritec Brand," the company said in a statement.

"I truly appreciate the opportunity that Arboritec offered me and I'm very confident that they will continue to capture more market share of the wood floor finish market," Peden said.

Kaldemark said his company would announce a successor for Peden "in the near future."