Sturm, Ruger & Co. announces chairman's retirement.

Position:Industry newsmakers

William B. Ruger Jr. retired on Feb. 28 as chairman of the board and CEO of Sturm, Ruger & Co. Inc., a position he held since October 2000 when his father, co-founder Bill Ruger Sr., retired. He also resigned as a member of the Sturm, Ruger board of directors on Feb. 13. The board of directors expects to name Ruger's successor within the next few months. Stephen L. Sanetti, vice chairman of the board, president and COO, will assume Ruger's duties in the interim.

"Bill Ruger Jr. has been a key member of management since he joined the company 42 years ago, " Sanetti said. "He...

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