MILLINOCKET – After serving as president of Great Northern Paper Inc. for the past two years, Eldon Doody resigned effective Monday.

Doody, 53, worked at GNP for more than 28 years. He said he resigned to start his own small business or to acquire a small business, something he has wanted to do for the past three years.

Doody, who started as an engineer and worked his way up to company president, said he decided several months ago to make a career change. He said he is leaving on very good terms and with no hard feelings.

“Since I walked away from a small-business opportunity, I’ve regretted it,” Doody said during an interview Monday afternoon. “It is something I kept very quiet. I am going to try my hand as a small-business person. I almost did it three years ago and now is the time to try it.”

Mike Parker, manager of the Millinocket paper mill, will oversee the operations of the company’s East Millinocket and Millinocket paper mills, according to information provided to union officials by Lambert Bedard, owner and chief executive officer of Great Northern. Brian Stetson, GNP’s manager of governmental affairs, said he could not confirm Parker’s appointment.

Doody’s departure comes amid difficult financial times for GNP, which employs 1,100 workers at its two mills. A slump in the paper market caused GNP to recently shut down a total of two paper machines temporarily, affecting more than 100 workers.

Three years ago, Doody actively pursued a few small-business opportunities. He said he had obtained confidentiality agreements and was taking a hard look at a small wood manufacturing operation and an engineering company. “I was right down to the detailed discussions with a small engineering company and then I thought no, just stay put,” he recalled.

Now, Doody is dusting off old files, has re-established contact with a brokerage firm he dealt with three years ago and is looking to create or acquire a small business. He plans to meet with officials of the Millinocket Area Growth and Investment Council to aid his effort.

He wants to keep his business in Maine and hopes it can be in the Millinocket area, which he said needs economic diversity in the face of economic woes in the paper industry.

“I do believe that the worst thing that could have happened to Millinocket decades ago was having a single major employer,” said Doody. “I don’t think any area should be dependent on a single major employer.” He said some of his efforts to attract business to Millinocket had not worked out, but said diversification should be a high priority for this area or any area with a single major employer.

Doody said he was tired and the best way to renew his energy was to get rid of his frustration at not having pursued his own business three years ago. He admitted that if business conditions at GNP were better he might have stayed. “When I told my children I was going to do this, they said, ‘It is about time because that is what you have wanted to do,”‘ he said.

Doody said the forest products industry today is going through a very difficult time. As for the future of Great Northern, Doody said the company is well-positioned with its machinery and workers but he stopped short of predicting success. “I wouldn’t make any predictions because this whole economy is so crazy,” he said.

The news came as a complete surprise to employees and union officials at the company’s two paper mills.

Union officials said they heard the news from Bedard during a meeting with union officials where Doody’s letter of resignation was read.

“We thought it was going to be some more real bad news,” said one union official, who asked not to be identified. He said union leaders let out a sigh of relief at the news of Doody’s resignation. He said people were not necessarily glad Doody had resigned but were glad the news was not about paper machines being permanently shut down and more job cuts.

One union leader described Doody as an honest, straightforward person who did not beat around the bush. He said he had nothing but high regard and respect for Doody. Some said Doody was devoted to the company and said it was not unusual to see Doody work 12 to 18 hours a day, even weekends at the Millinocket paper mill.

Stetson said Bedard hated to see Doody go. “Mr. Bedard praised Eldon for his 29 years of service as a solid contributor to the successes of Great Northern and wishes him nothing but the best in his future ventures,” he said.

Millinocket Town Manager Gene Conlogue said Doody is a highly respected individual. “I have deep respect for Eldon,” he said. “I have enjoyed working with him as president of the company during the past two years. While we didn’t always agree on some issues, I found him to be ethical, sincere and helpful to try to bring resolution to those issues.”