Genrad Appoints New CFO.WESTFORD, Mass.--(BUSINESS WIRE)--Nov. 2, 1998--GenRad, Inc. (NYSE NYSE See: New York Stock Exchange :GEN) today announced that its Chief Financial Officer, Paul Pronsky, has decided to leave the Corporation to pursue new opportunities. James F. Lyons, President and Chief Executive Officer, announced that, "Replacing Pronsky as CFO See Chief Financial Officer. will be Walter Shephard, who has previously been Vice President and Treasurer of the Corporation, as well as Vice President of Investor Relations Investor relations The process by which the corporation communicates with its investors. . Most recently, Shephard has been Vice President Worldwide Financial Operations reporting directly to Pronsky." "Paul will work with Walter and me through January 31, 1999 to complete an orderly transition into the new operating year. Paul and I have worked together for over twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. . I will miss his counsel. I wish him every continued success." Pronsky said, "As we prepared GenRad for success in the difficult economic times facing us, we recognized that efficiencies needed to be effected up and down the management pyramid. In that context, it seemed like the right time for me to move on to other challenges." Lyons also stated, "Walter has been with GenRad for over fifteen years. For the five years I have been here, I have worked directly with Walter in a number of capacities and I have grown increasingly confident in his technical competence technical competence, n the ability of the practitioner, during the treatment phase of dental care and with respect to those procedures combining psychomotor and cognitive skills, consistently to provide services at a professionally acceptable level. in the area of finance and, equally important, his leadership." "Walter has undertaken a number of successful financial initiatives to improve our worldwide competitive advantage. He is also leading our global implementation of SAP and the consolidation of our worldwide financial reporting. He has my complete support and confidence." Mr. Shephard has an undergraduate degree from Boston College and an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from Babson. GenRad Background GenRad, Inc. provides electronics OEMs and their customers with the hardware, software, inspection systems and services to optimize design, manufacturing and after-market service productivity. GenRad, headquartered in Westford, MA, offers products and services through three business units: Advanced Diagnostic Solutions (ADS), Electronic Manufacturing Systems (EMS), and GR Software (GRS GRS Graduate School (universities) GRS Great Red Spot (feature of Jupiter) GRS Gender Reassignment Surgery GRS Gamma Ray Spectrometer GRS Graduation Rate Survey GRS General Records Schedules ). GenRad's web site address is http://www.genrad.com. |
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