R.H. Donnelley Falls After Saying President to Retire
R.H. Donnelley Corp., the publisher of Yellow Pages phone directories, fell 6.1 percent in New York trading after saying President and Chief Operating Officer Peter J. McDonald will retire on Sept. 1.
Donnelley dropped 23 cents to $3.57 at 4:15 p.m. in New York Stock Exchange composite trading. The stock has lost 90 percent this year.
McDonald's responsibilities, including sales, are being assumed by George F. Bednarz, who was promoted to executive vice president of enterprise sales and operations, the Cary, North Carolina-based company said on June 20. Bednarz, 54, will report to Chairman and Chief Executive Officer David Swanson, the company said. McDonald is 57.
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