Minneapolis, MN, May 9--Tennant Co., a maker of industrial floor maintenance equipment, said that president and CEO Janet Dolan intends to retire in sometime in 2006.
A committee of the board of directors has begun a search for her successor, which will include internal and external candidates.
Dolan said, "My decision to retire from Tennant within the next year reflects a personal desire to take on new challenges. I have worked closely with the board on our succession planning process to ensure a thoughtful, comprehensive approach. Once a new CEO is named, I will remain flexible and work with the board on a seamless transition to my successor."
In 2006, Dolan will mark her twentieth year with Tennant, including seven years as CEO. She joined the company in 1986 as associate general counsel and assumed the role of president and chief operating officer in 1998, before being named CEO in 1999.
Dolan continues to serve on the boards of Donaldson, St. Paul Travelers and the United Way, Greater Twin Cities. She will continue her work as chair of the Minnesota Business Partnership and is a member of the NYSE Listed Company Advisory Committee.
Additionally, Dolan was recently named and will maintain her role on the Securities and Exchange Commission's committee charged with examining the effects of SEC regulations on smaller public companies. Dolan is heading the related SEC subcommittee focused on internal controls.
