Cincinnati financier Carl Lindner retired from the board of directors at Chiquita Brands International Inc. Wednesday, ending a controversial 18-year reign in its management.

Lindner

        Mr. Lindner, now 83 and principal owner of the Cincinnati Reds, still is one of Chiquita's largest owners, controlling about 1.1 million shares, or about 2.75 percent of Chiquita's common stock through American Financial Group Inc.

        But since the company emerged from bankruptcy in March, Mr. Lindner's hand-picked CEO has resigned, and a new board of directors has started a top-to-bottom review of Chiquita's global operations.

        Mr. Lindner gained control of Chiquita in 1985. The company invested heavily in Europe, then was devastated by unfriendly trade quotas there.

        That brought on more than $1 billion in debt, sending Chiquita into Chapter 11 bankruptcy late last year. Chiquita shareholders took the brunt of those losses.

        But the company emerged from bankruptcy with $700 million in debt cut from its balance sheet, and earning the benefit of increased business in Europe after years of lobbying for U.S. trade sanctions by Mr. Lindner.

        Mr. Lindner declined to be interviewed, but the parting was friendly, said Cyrus Freidheim, Chiquita's new chairman and CEO.

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