Aurora Electronics Promotes Thompson To CEO; Negotiates $12 million financing facility with investor.SAN DIEGO, California--(BUSINESS WIRE)--November 3, 1997 - Jim Cowart, Chairman of Aurora Electronics, Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AUR AUR Acute Urinary Retention AUR Association of University Radiologists AUR Automated Underreporter AUR Available Upon Request AUR All Up Round AUR Access Usage Record AUR Asociación Uruguaya de Radioprotección AUR Average Unit Revenue AUR Asset Utilization Ratio ) today announced that John F. Thompson, currently President & Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , has been given the additional title of Chief Executive Officer. Prior to joining Aurora in July, Mr. Thompson, 52, held the position of Senior Vice President Worldwide Operations of El Segundo, California-based Merisel, Inc., a major distributor of computer accessories, software and peripherals with revenues exceeding $6 billion. Cowart also announced that the company has negotiated preliminary terms for a $12 million preferred stock and loan facility with its current principal shareholder, Welsh, Carson, Anderson & Stowe of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . An initial funding of $2 million has occurred, with future fundings under the facility to be contingent upon certain performance criteria. As CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Mr. Thompson succeeds Jim C. Cowart, the founder of Aurora, who remains as Chairman of the company. With headquarters in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. , Aurora Electronics provides computer OEMs and service organizations with spare parts distribution services and electronics recycling necessary for support of their worldwide installed base. The company has facilities located in the United States, Europe and Canada. NOTE: This press release may contain forward-looking statements. Any such statements are subject to risks and uncertainties that could cause actual results to vary materially from those anticipated; among them are pricing for personal computers, computer components and memory chips. Additional information with respect to these and other factors which could materially affect the company is included in the Company's filings with the Securities and Exchange Commission, including its proxy statement, 10-K and 10-Qs. CONTACT: Aurora Investor Relations: +1.619.597.3584 |
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