A month after Asche Transportation Services disclosed the alleged theft of $62,000 by the controller of its Asche Transfer subsidiary, the company announced that it is investigating possible wrongdoing by its chairman, Larry L. Asche, and its president, Diane L. Asche.
The two executives have agreed to separate from Asche, the company said in a statement Feb. 14, although a date has not yet been determined.
Chief Financial Officer Leon Monachos said there appears to be no connection between the alleged theft and the investigation of the Asche executives. He declined to comment on the nature of the investigation.
Management duties will be assumed by an executive committee of outside directors until replacements for Asche and his wife are named, the company said.
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