Al Dunlap Revs His Chain Saw

The massive overhaul of Sunbeam Corp. announced on November 12 has been eagerly awaited since the self-proclaimed turnaround artist, Chairman and CEO Albert J. Dunlap, took charge in July. The strategy is expected to produce annual savings of $225 million. To pay for the overhaul, the company will take a $300 million pretax restructuring charge this year. Dunlap also has laid out ambitious growth goals for Sunbeam, which call for doubling revenues to $2 billion, raising operating profit margins to 20% from 2.5% currently, launching at least 30 new products a year, and increasing international sales to $600 million - all within the next 3 years.