GEORGE N. BENJAMIN, III NAMED CHIEF EXECUTIVE OFFICER OF TIE/COMMUNICATIONS, INC.
GEORGE N. BENJAMIN, III NAMED CHIEF EXECUTIVE OFFICER OF TIE/COMMUNICATIONS, INC. SEYMOUR, Conn., March 25 /PRNewswire/ -- George N. Benjamin, III today was named president and chief executive officer of TIE/communications, Inc. (AMEX: TIE), replacing Eric V. Carter, who had held those positions since April 1991. The appointment is effective April 1. TIE Chairman Robert A. Pritzker said that Carter, 56, will become a consultant to TIE on technology and product sourcing. Pritzker said Carter, who will continue as a director of the company, had asked the TIE board to reduce his responsibilities and seek a new president. Benjamin, also a TIE director, has been group vice president of The Marmon Group, Inc., where he has served as consultant and advisor to TIE and other Marmon members. Interests related to Marmon hold about 75 percent of TIE's equity. Benjamin will now devote full attention to TIE and continued improvement of its financial performance. "Eric Carter remains as a valued member of TIE's management. He's an executive who has rendered invaluable service to the company during difficult times," Pritzker said. "But I have every confidence in George Benjamin and the strategy he will bring to TIE." Benjamin, 54, has been a general management and engineering executive for more than 30 years. A group vice president with The Marmon Group, Inc., since 1988, Benjamin previously served as president of Ericsson, Inc., a subsidiary of Ericsson, N.A. Benjamin said his primary strategy will be to refocus TIE as a business communications specialist for small and medium-sized enterprises. TIE has been a sales and service organization for business communications systems and related products. In its broader role, TIE will expand into related fields as an expert provider of equipment and service for all business communications needs, including hardware, long distance services, PC network support, call accounting services and peripherals, such as facsimile machines. "Operators of small and medium-sized businesses lack alternatives when it comes to finding products and advice specifically geared to their complete business communications needs," Benjamin said. "This growing part of the telecommunications marketplace has long been TIE's focus, and we plan to intensify it." Benjamin said TIE's senior executives have already begun implementing portions of this strategy. Now, he said, that effort will accelerate. "It has been nearly a year since TIE emerged as a new company and became a member of The Marmon Group of companies. We're now well financed and dedicated to the best possible levels of service," he said. "During that year, TIE has expanded its customer base and settled on its new course. We're a year-old company with more than two decades of experience. We know what small business needs, and we know how to deliver quality at a price a growing business can afford. I don't think anyone does that job better." TIE serves about 102,000 small and medium-sized business customers in North America with sales and service of communications systems and related equipment. The company operates 56 TIE Systems, Inc. offices in the United States and 12 offices of CTG Inc. in Canada. TIE has an installed base of 11 million telephones, making it one of the largest telecommunications organizations in North America. TIE is a member of The Marmon Group of companies, an international association of more than 60 autonomous manufacturing and service companies with sales of nearly $4 billion. Shares of TIE are traded on the American Stock Exchange. TIE/telecommunications Canada Limited, a 63 percent-owned subsidiary, is based in Markham, Ontario, and is traded on the Toronto and Montreal stock exchanges. -0- 3/25/92 /CONTACT: George N. Benjamin III of TIE/communications, 312-372-9500/ (TIE) CO: TIE/communications, Inc. ST: Connecticut IN: TLS SU: PER
SH-OS -- NY062 -- 1640 03/25/92 15:57 EST
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|Date:||Mar 25, 1992|
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