<p>Russell Corp. Chairman and CEO John F. Ward said he will retire Aug. 2 once the company's merger with Berkshire Hathaway is completed.</p><p>Ward announced his plans to Russell employees in a memo disclosed Friday in a story by The Alexander City Outlook. Russell, headquartered in Atlanta, has operations in Alexander City, Ala.</p><p>Ward has been chief executive since March 1998.</p><p>Russell stockholders vote Aug. 1 in Atlanta on the proposed merger with Berkshire Hathaway. The initial deal is that Berkshire Hathaway will purchase Russell stock at $18 per share.</p><p>"If the merger is completed, I feel it is an appropriate time for me to move to the next phase of my life," Ward wrote.</p><p>Russell spokeswoman Nancy Young in Atlanta confirmed Ward is retiring, but she said any official announcement has been delayed until the Aug. 2 merger agreement is completed.</p><p>Russell has about 14,000 employees worldwide, including about 5,300 in the United States.</p><p>___</p><p>HASH(0x1cd9a74)</p>
