MICHAEL P.W. STONE NAMED CHAIRMAN OF BEI DEFENSE SYSTEMS COMPANY SUBSIDIARY OF BEI ELECTRONICS, INC.
SAN FRANCISCO, Aug. 16 /PRNewswire/ -- Michael P.W. Stone, former secretary of the Army and a director of BEI Electronics, Inc. (NASDAQ-BEII), has been named chairman of the board of the BEI Defense Systems Company (DSC), a subsidiary of BEI Electronics, it was announced today by Peter G. Paraskos, president and chief executive officer of the San Francisco-based diversified technology company. Michael G. Florimbi, president and chief executive officer of BEI Defense Systems Company, will report directly to Stone. "We are pleased that Stone will be taking a more active role at BEI," Paraskos said. "He brings to DSC over a decade of experience in U.S. government service with the Department of Defense and the Agency for International Development. Stone's unique combination of government, industrial and international experience will be an invaluable resource to DSC," Paraskos said. "He was the secretary of the Army from 1989 until earlier this year," Paraskos said. "In that capacity, he was responsible directly to the secretary of Defense for the U.S. civil reconstruction program in Kuwait and, concurrently, served as chairman of the board of the Panama Canal Commission. During 1989, he also performed the role of under secretary of Defense for Acquisition. Prior to 1986, he was an under secretary of the Army in the position of Army Acquisition executive." "In 1982, he joined the Agency for International Development as director of the U.S. mission in Cairo. His responsibilities included the implementation of a package of 65 major projects, the agency's largest administered program," BEI's president added. Prior to serving in the U.S. government, Stone was in private industry for nearly 30 years, including extensive stints in executive and entrepreneurial positions. BEI Defense Systems Company is the sole producer and supplier of the HYDRA 70 Rocket System to the U.S. military. BEI Electronics designs, manufactures and markets a wide variety of specialized sensors, motors, control systems and precision components for use in industrial, commercial, medical and military applications. -0- 8/16/93 /CONTACT: Gary D. Wrench, senior vice president and CFO, BEI Electronics, Inc., 415-956-4477/ (BEII)
CO: BEI Defense Systems Company; BEI Electronics, Inc. ST: California IN: CPR ARO SU: PER
JG -- DE020 -- 3075 08/16/93 12:20 EDT
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|Date:||Aug 16, 1993|
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