BRIEFCASE GUITAR CENTER SET FOR CEO CHANGE.Byline: - Staff and Wire Services WESTLAKE VILLAGE - Guitar Center Inc. on Monday announced a management succession plan to be implemented during the fourth quarter of 2004. Marty Albertson, currently president and co-chief executive officer, will assume the position of chairman of the board and become sole 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. of the company. Larry Thomas, now chairman and co-CEO, will become chairman emeritus and remain a member of Guitar Center's board. He'll also be chairman of the Guitar Center Music Education Foundation, a private foundation to be established to administer charitable giving by Guitar Center in support of music participation and music education. Thomas and Albertson are longtime Guitar Center employees, with 27 and 25 years of service, respectively. In connection with the succession plan, Albertson entered into an amended employment contract that runs through Dec. 31, 2009. His present contract had been scheduled to expire in June 2006. Thomas will enter into a new employment agreement that runs through Dec. 31, 2007. Bank sees jump in earnings in Q3 Los Angeles-based American Business Bank reported on Monday third- quarter net earnings of $901,000, or 45 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , a 78 percent increase from earnings of $506,000, or 27 cents per share, for the same period a year ago. The company also reported that its total assets grew to $440 million at the close of the third quarter, from $343 million at the end of the third quarter in 2003. Real estate stock to be deregulated BEVERLY HILLS Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. - Kennedy Wilson Inc., a Beverly Hills-based real estate investment and services firm, announced Monday that it intended to deregister its common stock. ``After extensive and thoughtful discussion, the company's board of directors has determined that the increasing financial cost and commitment of management's time to ever-increasing regulatory requirements have become an excessive burden that will only grow over time,'' said William J. McMorrow, Kennedy Wilson's board chairman and chief executive officer. The company expects the deregistration deregistration removal of right to practice by local registering body, usually as a disciplinary measure because of professional misconduct, possibly because of inability to perform because of psychiatric problem. to become effective within 90 days of its Nov. 1 filing with the Securities and Exchange Commission, he said. CSC (Card Security Code) A three- or four-digit number printed on the back of credit cards for security purposes. Called "Card Verification Value" (CVV) by Visa, "Card Validation Code" (CVC) by MasterCard and "Card Identification (CID) by American Express and Discover, signs IT deal with Ascension Ascension, in Christianity Ascension, name usually given to the departure of Jesus from earth as related in the Gospels according to Mark (16) and Luke (24) and in Acts 1.1–11. EL SEGUNDO El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and - Computer Sciences Corp. announced Monday that it had signed a 10-year, $1.35 billion information technology services contract with Ascension Health Ascension Health is a non-profit company that operates a network of hospitals and related health facilities in the United States. It is the nation's largest Catholic and largest non-profit health system[1]. , the largest U.S. nonprofit health system. The agreement is incremental to the award of a seven-year, $200 million IT services contract to CSC from Ascension Health in September 2003, under which CSC manages IT operations for the health system's office and the Carondelet Health Network in Tucson, Ariz. Under the new contract, which is effective Jan. 1, CSC will manage IT operations for 32 Ascension Health ministries and 80 facilities. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion