MUSCATINE, Iowa-After 18 years, Bill Herd is leaving Bandag Inc. to pursue other business interests. The former senior vice president, sales and marketing, officially resigned from the Muscatine-based retread supplier Sept. 1.
Mr. Herd dispelled speculation that his departure resulted from a recent falling out between Bandag and its largest customer, Treadco Inc.
Bandag recently announced it will not renew eight of its franchise agreements with Treadco when they expire during the summer of 1996.
``I'm going on to seek new challenges and new opportunities,'' Mr. Herd said during a phone interview from his Muscatine home. ``I'm leaving to pursue other opportunities, and I'm leaving with absolutely wonderful feelings about Bandag.''
He declined further comment on his plans.
``It's just time for me to move on. (The Bandag job) was never intended to be forever. . . . I'm at the top of my game, and it's time to move on,'' he said.
Sam Ferrise and Bill Sweatman, both directors of sales and marketing, have taken over Mr. Herd's previous responsibilities at Bandag. Mr. Ferrise was named vice president, marketing, and Mr. Sweatman, vice president, sales.
``Mr. Ferrise and Mr. Sweatman will step up the planning and design process, which is taking Bandag from a product-driven, internally focused company to a customer-driven, process-focused company,'' Bandag said in a prepared statement.
Mr. Herd joined Bandag in 1977 as Canadian division manager. In 1982, he became vice president of North American sales. Eight years later, his responsibilities were expanded to include marketing functions and in 1993 he was promoted to senior vice president of North American sales and marketing.