IN BRIEF.VALLEY INDEX DROPS: Shares of companies in the Daily News Index were mostly lower Tuesday, led by Xircom Inc. of Thousand Oaks Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. and Westlake Village's WellPoint Healthcare Networks. Xircom lost $2.8125 to $32.50. WellPoint dropped $2.125 to $73.25. - Daily News AMWEST CHANGES: Calabasas-based Amwest Insurance Group Inc. has announced some senior management changes that include a son succeeding his father. Richard H. Savage, chairman and co-chief executive officer who has led the company for 29 years, will retire on May 21. He founded Amwest in 1970 as a surety An individual who undertakes an obligation to pay a sum of money or to perform some duty or promise for another in the event that person fails to act. surety n. company and has presided over its growth into a diversified insurance carrier. He will be succeeded by his son, John E. Savage, 46, president and co-CEO of Amwest, who will become 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. . He has worked at the company for 24 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time last six as president and co-CEO. Also, Guy A. Main, executive vice president and president of Amwest's subsidiary, Condor Insurance Co., will retire May 21. Main, 62, founded Condor in 1989 and the company merged with Amwest in 1996. He will be succeeded by Jeffrey A. Shonka, senior vice president and 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. of Amwest's Property & Casualty Division. The elder Savage will remain chairman of the company's board. Main will also remain on the company's board. - Daily News EX-GOVERNOR TAPPED: Woodland Hills-based Zenith zenith, in astronomy, the point in the sky directly overhead; more precisely, it is the point at which the celestial sphere is intersected by an upward extension of a plumb line from the observer's location. National Insurance Corp. has named former Nevada Gov. Bob Miller to its board of directors, bringing its membership to 10. Miller stepped down as governor in January after 10 years. - Daily News DEAL CLOSES: Woodland Hills-based Litton Industries Named after inventor Charles Litton Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001. Inc. has completed the previously announced buyout of Denro Inc., which produces voice-data communicating control systems and digital voice recording systems used in air traffic control and air defense applications. Denro, of Gaithersburg, Md., has about 250 employees with sales of approximately $35 million in the fiscal year ended Nov. 30. - Daily News |
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