Sturm, Ruger CEO to retire
FAIRFIELD (AP) — William Ruger Jr. will retire as chairman and chief executive officer of Sturm, Ruger and Co., marking the first time in the 67-year history of the firearms manufacturer that a Ruger has not led the company.
Ruger announced last week that his last day will be Feb. 28.
His successor will be named by the board of directors in the next few months, the company said.
Stephen L. Sanetti, vice chairman, president and chief operating officer, will assume Ruger’s duties on an interim basis.
William Ruger Sr., who started the company in 1949, retired in 2000 and died in 2002. Ruger Jr. took over as head when his father retired.
Shares of Sturm Ruger fell 1 cent to close at $7.21 Tuesday on the New York Stock Exchange.