Henry D. Felton has retired as president of Youth Services International Inc., the Owings Mills-based juvenile corrections company said yesterday.
Felton, 53, has been with the company since its founding in 1991. He will remain on the board and is a major stockholder.
Chief Executive Officer Timothy P. Cole will take on the additional duties of the president. Cole joined the company in July from Wackenhut Corrections Corp. of Florida.
Wall Street analysts widely praised the hiring of Cole, who replaced YSI founder W. James Hindman as CEO. Hindman had said he would leave the position when the company grew large enough to be turned over to someone with more experience in running a big corporation.
Felton's retirement was part of the same transition, Vice President Joan S. Stephens said.
"The plan was that Mr. Felton would transition out of the company," Stephens said. "He felt that now the time was right."
With annual sales last year of $84.2 million, YSI operates 18 youth corrections and rehabilitation centers in 11 states and employs more than 2,400 people.
Pub Date: 12/03/96