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Fortune Industries names new chief executive

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Indianapolis-based Fortune Industries Inc. announced Monday that Tena Mayberry has been named CEO of the publicly traded professional employer organization.

Mayberry, who also will continue to serve as president, replaces John Fisbeck, who had led the company since June 2005.

“The board thanks John for his service as CEO and the important contributions he has made to Fortune’s success over the last five years,” Chairman Carter Fortune said in a prepared statement. “His commitment to work with Tena will ensure a smooth transition for the company and the employees.”

Fortune did not provide a reason for Fisbeck’s departure, and a spokesman for the company could not immediately be reached for comment.

For the past year, Mayberry has served a dual role as president of both Fortune and subsidiary Century II Inc, a Brentwood, Tenn.-based provider of human resources services.

She became president of Century II in 2007 after serving four years as chief operating officer, two years as senior vice president and four years as vice president.

Before joining Century II, Mayberry held management positions with Cincinnati-based Kroger Co. and Florida-based Norrell Temporary Services, now known as Spherion. She earned a bachelor’s degree in marketing and business management from Tennessee Technological University.

Founded in 2000, Fortune lost $19 million on $158.4 million in revenue during its 2008 fiscal year.

Company directors in April changed its fiscal year end from Aug. 31 to June 30. For the shorter 10-month period, Fortune earned a profit of $13.8 million on $72.9 million in revenue.

Fortune managed a small profit in its first quarter ended Sept. 30 and now has been profitable in each of its last four quarters, the company said in November.

Profit for its first quarter rose to $660,000, or 5 cents per share, from a loss of $4 million, or 34 cents per share, in the same period a year ago.

PEOs handle payroll, payroll taxes, Worker’s Compensation claims, health plans, and other employee benefits for employers. Fortune provides human resource consulting and management, employee assessment, training and benefits administration services to small- and medium-sized businesses in 49 states.

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  1. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

  2. I think perhaps there is legal precedence here in that the laws were intended for family farms, not pig processing plants on a huge scale. There has to be a way to squash this judges judgment and overrule her dumb judgement. Perhaps she should be required to live in one of those neighbors houses for a month next to the farm to see how she likes it. She is there to protect the people, not the corporations.

  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

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