CTI Industries' CEO Schwan retires, replaced by Merrick

|About: CTI Industries Corporation (CTIB)|By:, SA News Editor

CTI Industries (CTIB +12.9%) says John Schwan has retired as its CEO effective Dec. 1, to be replaced by current President Stephen Merrick.

Jeffrey S. Hyland is named to replace Merrick as President and is appointed to the company's board.

Merrick has been CTI's president since 2012 after serving as Senior VP, Secretary and General Counsel of Reliv International since 1989; Schwan has been CEO since 2012.

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