INCOMNET GETS NEW PRESIDENT, DIRECTORS.Byline: Ben Sullivan Daily News Staff Writer Beleaguered be·lea·guer tr.v. be·lea·guered, be·lea·guer·ing, be·lea·guers 1. To harass; beset: We are beleaguered by problems. 2. To surround with troops; besiege. long-distance telephone service reseller Incomnet Inc. announced a reshuffling of its top management and board of directors Wednesday in a move intended to pacify pac·i·fy tr.v. pac·i·fied, pac·i·fy·ing, pac·i·fies 1. To ease the anger or agitation of. 2. To end war, fighting, or violence in; establish peace in. anxious creditors. The company said Denis Denis, king of Portugal: see Diniz. Richard was named president and chief executive officer after the resignation of Melvyn Reznick from those posts. Richard, previously vice president at Teleglobe International Corp., was unavailable for comment Wednesday. Reznick stepped down after orchestrating a deal that has so far kept Incomnet in business, despite threats from its main creditor and telephone service provider to cut off resources. As part of the deal, a new four-person board has been created, consisting of John Casey John Casey may refer to:
Incomnet owes nearly $6 million to WorldCom Network Services and $2 million to First Bank & Trust of Newport Beach Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. . The two have agreed to hold off on any legal action until the end of October, provided Incomnet changes its board of directors and meets some payment demands. Incomnet also has agreed to give several million shares to the creditors. Incomnet shares rose 12.5 cents Wednesday to close at $2.125. |
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