Robert Out at Vermont Teddy Bear

Elizabeth Robert, who served as CEO of Vermont Teddy Bear Co. for more than a decade, was dismissed Wednesday.

The Shelburne, VT-based company has named William York as interim president. York has direct marketing experience from stints at Dell Computer and L.L. Bean. Vermont Teddy Bear officials did not give a reason for the change.

Founded in 1983 as a stuffed bears direct merchant, Vermont Teddy Bear today includes the TastyGram and PajamaGram brands, as well as Calyx Flowers (formerly Calyx & Corolla), which it acquired in 2003. The merchant was taken private by an investment team led by Boston-based private equity firm The Mustang Group in 2005.

Earlier this year the company struggled to reach its sales goals in the grim economy. It laid-off 15 full-time employees and eliminated seven vacant management positions in February.

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