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New CEO, Guidance Lift Checkpoint
Checkpoint Systems (CKP Quote) trekked as much as 18.5% higher Friday on word of a management change and gleaming profit expectations for the coming year.
The Thorofare, N.J.-based company, which makes security devices and tags that attach to retail items for theft prevention, appointed new board member Robert van der Merwe as chief executive, effective immediately. He replaces former CEO George Off, who had assumed the role in 2002 and will now stay on as chairman of the board.
Van der Merwe joined Checkpoint's board a couple of months ago. Before that, he had been CEO of merchandising-systems maker Paxar for about two years until June, when Avery Dennison (AVY Quote) bought it out. ...
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