Cerplex announces executive changes, appoints Western Digital finance veteran to CFO post.TUSTIN, Calif.--(BUSINESS WIRE)--July 23, 1996--Cerplex (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CPLX), a leading provider of high-technology services outsourcing, Tuesday announced two senior-level executive changes in the financial organization. The company announced the appointment of James R. Eckstaedt, 42, to the position of senior vice president and chief financial officer. Eckstaedt joins Cerplex after nine years at Western Digital, a $3 billion, Fortune 500 mass storage products company, most recently as vice president of finance. He has held several other positions at Western Digital, including manager of corporate accounting, manager of international treasury operations and vice president/treasurer. In addition, Eckstaedt has held positions at Price Waterhouse, Petrolane Inc. and Tomy Corp. He received a B.S. degree in business administration in 1976 from Valparaiso University Valparaiso University, known colloquially as Valpo, is a private university located in the city of Valparaiso in the U.S. state of Indiana. Founded in 1859, it consists of five undergraduate colleges, a graduate school, and a law school. , with an emphasis on accounting. "We are extremely happy to have Jim join the Cerplex executive staff," said Jim Schraith, president and chief executive officer. "Jim's background in banking, foreign currency management, accounting and financial controls will be well-utilized as Cerplex continues its growth and worldwide expansion." Bruce Nye, 52, has been appointed senior vice president, corporate development. In this role, Nye will be responsible for company merger and acquisition activity, strategic relationships and strategic planning activities. "Bruce has been a tremendous asset to me over the past nine months," continued Schraith. "Cerplex has made a number of acquisitions in the past few years, and we expect that trend to continue. As a result, it is important for us to have a dedicated focus on this crucial area." Nye joined Cerplex in August 1993 and has served as vice president and chief financial officer during that time, which included the company's initial public offering in 1994. Schraith has made a number of operational and organizational changes since his appointment as president and 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. in October 1995, including the addition of several experienced senior executives. They include new senior vice presidents of North American operations North American operation Surgical oncology Radical surgery of a 'frozen pelvis', consisting of radical en bloc resection of the uterus and urinary bladder. See 'Frozen pelvis.'. Cf 'All-American' and 'South American' operations. , North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. sales and worldwide marketing. In addition, the company has been able to improve its financial performance during this period, from a net loss of just under $25 million, or $1.74 per share, in the third quarter of 1995, to a net profit of $702,000, or 5 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. , during the just-ended second quarter of 1996. About Cerplex Cerplex is a leading independent provider of service outsourcing, including repair and remanufacturing, parts services and logistics, and knowledge-based support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , consisting of computer-based service training and customer help desk. The company has developed extensive capabilities in these areas, focusing on the computer and peripherals, telecommunications and office automation markets. Cerplex offers custom-developed programs to original equipment manufacturer (OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and ) and third-party maintenance (TPM (1) See TP monitor. (2) (Transactions Per Minute) The number of transactions processed within one minute. See TPS. (3) (Trusted Platform M ) customers that help to reduce their service costs, shorten response times and improve customer satisfaction. The company's headquarters is in Tustin, with service facilities throughout the United States and Europe. Visit Cerplex's home page at www.cerplex.com. CONTACT: Cerplex, Tustin Joan Kerr, 714/258-5162 jkerr@cerplex.com |
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