Loral Makes Announcement.NEW YORK--(BUSINESS WIRE)--Oct. 28, 1999-- Loral Space & Communications announced today that Dr. Gregory J. Clark will leave his position as 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 Loral, effective December 1, 1999. Dr. Clark, who joined the company in January 1998, will remain as a consultant to Loral. "Now that we've successfully achieved various technical milestones, this is the time, as planned, for me to move on to new challenges," stated Dr. Clark. "I am very proud to have been associated with Loral and Globalstar." Bernard L. Schwartz Bernard Leon Schwartz (born December 12,1926, Brooklyn, New York) was the Chairman of the Board and CEO of Loral Space & Communications, Chairman and CEO of K&F Industries, Inc., Chairman and CEO of Loral Corp., and president and CEO of Globalstar. , chairman and chief executive officer of Loral, commented: "Greg accomplished a great deal during his tenure here, and we are grateful for his contributions. We wish him well." Dr. Clark's responsibilities are being assumed by Eric Zahler, Loral's executive vice president, and Robert Berry, senior vice president of Loral and chairman, Space Systems/Loral Space Systems/Loral (SS/L), of Palo Alto, California, is the wholly owned manufacturing subsidiary of Loral Space & Communications. It was acquired in 1990 for $715 million by Loral Corp. from Ford Motor Company as the Space Systems Division of Ford Aerospace. . Loral Space & Communications (NYSE NYSE See: New York Stock Exchange :LOR LOR Letter Of Reprimand (military) LoR Lord of the Rings (J.R.R. Tolkien) LOR Learning Object Repository LOR Linux.Org. ) is a high-technology company that primarily concentrates on satellite manufacturing and satellite-based services, including broadcast transponder A receiver/transmitter on a communications satellite. It receives a microwave signal from earth (uplink), amplifies it and retransmits it back to earth at a different frequency (downlink). A satellite has several transponders. leasing and value-added services, domestic and international corporate data networks, global wireless telephony, broadband data transmission and formatting, Internet connectivity, digital audio radio services, and international direct-to-home satellite services. For more information, visit Loral's web site at http://www.loral.com. |
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