Cobey Co-Founder J. Obey exits with Management Share repurchase
Today it was announced that Cobey Co-Founder, John Obey, has sold his shares as part of a management repurchase. The shares were purchased by Michael Durkin, Vice President, and Eric McKendry, Director of Sales and Marketing. John along with current President, Robert Castle, founded Cobey in 1987 and continued to grow the company into one of the most respected in the industry until his retirement in 2012.
John's presence and knowledge will be missed. Cobey and all it's Employees wish John and his family well in his much deserved retirement.
John Obey at Power Gen tradeshow booth
"As part of a management buyout and company share repurchase, John Obey has sold his shares of Cobey Inc., the company he co-founded in 1987.
Obey was president until his retirement in 2012. Robert Castle, the other founding shareholder, remains president.
“John’s presence and guidance over the years has left an indelible legacy on the business and its employees,” Castle said. “We are sincerely grateful for all of his efforts and will continue to build upon the steady foundation he and I built over the years.”
Castle added that there should be a seamless transition to Cobey’s new ownership, which includes himself, vice president Michael Durkin and sales and marketing director Eric McKendry." Source: Buffalo Business First
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