Datametrics announces resignation of four senior executives, three board members, and reduction of work force.WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Oct. 24, 1996-- Datametrics Corp. (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. :DC), a company specializing in the design, development and manufacture of high-speed high-speed adj. 1. Operated or designed for operation at high speed: a high-speed food processor. 2. Taking place at high speed: a high-speed chase. 3. color printers A printer that prints in color using three (CMY) or four (CMYK) colors of ink, toner or dye. Four color ribbons have been used in dot matrix printers, but these are rare today. See color laser printer and printer. , high-resolution non-impact printer/plotters and ruggedized computers, printers and workstations, announced that the following senior officers have resigned their positions at the company, effective immediately: Sidney E. Wing, president and chief executive officer; John J. Van Buren, vice president and chief financial officer; Gerald A. Horwitz, senior vice president, administration; and Carl C. Stella, senior vice president, manufacturing. The company also stated that it has accepted, effective Thursday, the resignations of Wing, Bernard Ber·nard , Claude 1813-1878. French physiologist noted for his study of the digestive and nervous systems. F. Girma and W. Allen Al·len , Edgar 1892-1943. American anatomist who is noted for his studies of hormones and for the discovery (1923) of estrogen. Surber from its board of directors. The company also announced that, effective Thursday, it will reduce its workforce by laying off 35 out of a total of 151 employees. On Oct. 8, 1996, a new board of directors was elected effecting a change in control of the company. At the same time, the board of directors appointed Daniel P. Ginns, president of Belmont Capital Inc., to the position of chairman of the board. Belmont Capital has been retained by the company to undertake a complete strategic and operational examination of the company and to recommend corporate actions to enhance shareholder value. Additionally, as of Thursday, the board of directors named Ginns as the company's acting chief executive officer, to serve until the appointment of his successor. Ginns stated: "Based upon our analysis of Datametrics' business performance to date, the board of directors concluded that immediate and decisive measures were required. "Accordingly, the board approved a major reduction in the company's overhead expenses to begin the process of enhancing shareholder value by returning Datametrics to profitability. "These management changes and staff reductions, in concert with broad, newly designed cost control policies to take effect immediately, will permit Datametrics to strengthen its core defense business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets , to facilitate new initiatives in our commercial product strategy and to align align (  līn),v to move the teeth into their proper positions to conform to the line of occlusion. our workforce to efficient staffing levels." CONTACT: Datametrics Corp., Woodland Hills Daniel P. Ginns, 818/598-6200 or Gibson Group Lawrence Gibson, 818/598-6244 |
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