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DIGITAL EQUIPMENT ANNOUNCES RETIREMENT OF KENNETH OLSEN; BOARD OF DIRECTORS EXPECTED TO NAME ROBERT PALMER AS SUCCESSOR

 DIGITAL EQUIPMENT ANNOUNCES RETIREMENT OF KENNETH OLSEN; BOARD OF DIRECTORS EXPECTED TO NAME ROBERT PALMER AS SUCCESSOR
 MAYNARD, Mass., July 16 /PRNewswire/ -- Digital Equipment Corporation (NYSE: DEC) announced today that Kenneth H. Olsen, 66, founder and president of Digital, plans to retire from the company, effective Oct. 1, 1992. At its next meeting, the Digital board of directors is expected to approve Olsen's recommendation that Robert B. Palmer, 51, Digital's vice president, manufacturing and logistics, be named to succeed him as president and chief executive officer.
 "I've had a long and satisfying career at Digital, and it's time for the next generation of management to assume leadership," said Olsen. "I'm making this announcement now to provide an orderly transition at the beginning of the company's 1993 fiscal year."
 Commenting on the announcement, Palmer said, "We have a strong business with talented and dedicated people, clearly focused on providing computing solutions for organizations worldwide. I'm honored and eager to carry forward the vision that Ken has established for Digital. He is a computer industry pioneer and an architect of innovation, and has built one of the world's major corporations. His vision of interactive and distributed computing has been revolutionary."
 Palmer joined Digital in 1985. In 1986 he was named vice president, Semiconductor Operations. In 1989 he was appointed vice president, Semiconductor and Interconnect Technology. He was appointed to his present position in November 1990. Previously, Palmer served as executive vice president, Semiconductor Operations, United Technologies Corporation, which acquired Mostek Corporation in 1980. He was one of Mostek's founders and held a series of management positions. He earned a bachelor of science degree in mathematics and a master of science degree in physics from Texas Tech University. He is a past member of the boards of directors of the Semiconductor Industry Association (SIA), SEMATECH, Semiconductor Research Center (SRC), and the Microelectronics and Computer Technology Corporation (MCC).
 Olsen founded Digital in 1957, and has been its only chief executive officer. He is a member of the Boards of Directors of Polaroid Corporation and Ford Motor Company; the Corporation of MIT, Cambridge, Mass.; board of trustees, Gordon College, Wenham, Mass.; the Corporation of Wentworth Institute, Boston; and a Deacon of Boston's Park Street Church.
 Digital Equipment Corporation, headquartered in Maynard, Mass., is the leading worldwide supplier of networked computer systems, software and services. Digital pioneered and leads the industry in interactive, distributed and multivendor computing. Digital and its partners deliver the power to use the best integrated solutions -- from desktop to data center -- in open information environments.
 -0- 7/16/92
 /CONTACT: Dallas Kirk of Digital Equipment, 508-493-4562/ CO: Digital Equipment Corporation ST: Massachusetts IN: CPR SU: PER


SH -- NE022 -- 9996 07/16/92 17:08 EDT
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Publication:PR Newswire
Date:Jul 16, 1992
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