CFO Out at Concord Camera - TheStreet

CFO Out at Concord Camera

The stock slides as the financial chief quits just two weeks after his announcement.
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Concord Camera

(LENS)

slipped 11% on news that the company's financial chief quit less than a month after taking the job.

The Hollywood, Fla., camera maker said Donald D. Dawn resigned effective Saturday. The company said in a Tuesday

Securities and Exchange Commission

filing that "Dawn's decision was unrelated to the company's accounting principles or practices." Concord said it started a search for an interim and permanent CFO.

Concord announced Dawn's appointment in an Aug. 16 press release that also noted the July 27 departure of his predecessor, Richard M. Finkbeiner. The release indicated Dawn's appointment was effective retroactive to Aug. 2.

At the time, Dawn said, "I am excited to join Concord at this important stage of its growth and development. As an established leader of high-quality, popularly priced digital, single use and traditional cameras, Concord is now expanding its presence in Europe, addressing new domestic and foreign sales channels, and introducing a variety of exciting new products. I look forward to working with Concord's dedicated group of professionals to build a world class accounting and finance department to support our anticipated future growth."

On Tuesday, Concord dropped 21 cents to $1.74.