Rubbermaid’s Chairman, CEO Resigns

Walter W. Williams, 58, has resigned as Rubbermaid Inc.’s chairman and chief executive for what the company said was personal reasons.

Wolfgang R. Schmitt and retired Chairman Stanley C. Gault will become co-chairmen of the Wooster, Ohio-based firm. Schmitt will also serve as chief executive.

Gault, who retired as Rubbermaid chairman last year, is chairman of Goodyear Tire & Rubber Co. He had remained on the Rubbermaid board of directors after his retirement from Rubbermaid.

Gault will serve as co-chairman during a transition period, the consumer products company said.

Schmitt, 48, was elected president and chief operating officer in 1991. He previously served as executive vice president and as a company director.