Three Maytag Executives Step Down

Maytag Corp. said three senior executives resigned after the appliance maker decided to eliminate some group president positions. Chief Executive Leonard Hadley is reviving a structure under which smaller business divisions report directly to the top, analysts said. Hadley, who had retired as chairman, returned to the company in November after Lloyd Ward resigned as CEO. Maytag also said it will invest more money to develop major appliances and floor-care products and cut back Internet-related spending. One of the groups Ward created dealt with marketing and online commerce. The executives leaving the company are Jerome Davis, president of the food service and vending equipment division; Gregory L. Jordan, chief technology officer; and Carole Uhrich, 57, president of the major appliances and floor-care products business. Maytag shares fell 44 cents to close at $30.13 on the NYSE.