The latest news on Seventh Generation, E Ink, and Grameen Bank
Jeffrey Hollender, co-founder of Burlington, Vermont—based Seventh Generation, has stepped down as CEO to make room for a successor with experience running large companies. The green consumer-products maker had 2008 sales of $150 million. "I asked myself a thousand times whether this was the right thing to do," Hollender says. "Every time the answer was yes."'¦Taiwan-based Prime View International is acquiring E Ink, the Cambridge, Massachusetts, maker of the electronic-paper displays used in the Kindle, for $215 million. E Ink CEO Russ Wilcox says the deal will "speed up product development and improve customer service."'¦When Lance Armstrong appears in the Tour de France this summer, he will be riding a bike with components from SRAM, a Chicago-based company in which he has invested several million dollars. SRAM CEO Stan Day says Armstrong will be a "tremendous force" in marketing....Muhammad Yunus, founder of microfinance lender Grameen Bank, told graduates at the Wharton School's commencement that "in a certain way, the crisis is good; it gives us a good opportunity to redesign." He urged them to launch "social businesses" that aim to "address and solve social problems, not make money for'¦investors."'¦Padma Lakshmi, host of Top Chef, has founded a namesake jewelry business. The line sold out twice in 10 days at Bergdorf Goodman. "It's been creatively gratifying and very scary," she says.
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Last updated: Jul 1, 2009
JASON DEL REY was a senior reporter covering technology, branding, and company culture for Inc. magazine. Before joining Inc., his work appeared in Newsday, The (Newark) Star-Ledger, and the Staten Island Advance, and on ESPN.com. He lives in New Jersey. @DelRey