Dal-Tile Extends Employment Agreement With CEO
December 4, 2000
Dal-Tile International has extended the term of its employment agreement with Chairman and CEO Jacques Sardas through December 31, 2004. Sardas joined the company in July 1997 as president and chief executive officer, and in October 1997, he was elected chairman of the board. In July 1998, the company extended the term of his original employment agreement through December 31, 2001. The third quarter 2000 marked ten quarters of record sales and profits during his tenure, and the company's debt decreased to $354 million from a high of $558 million in the third quarter of 1997. "I am proud of the accomplishments and improvements we have attained during these last 3 1/2 years thanks to the dedication and hard work of all our associates," Sardas said. "I am pleased to extend my agreement and I look forward to continuing the progress which we are achieving. I believe the next few years will present even greater and more exciting opportunities to Dal-Tile."