LOS ANGELES COUNTY - News from June 6, 1985
Rexon Corp., a maker of memory devices and small-business computer systems, announced a management restructuring Wednesday--its second since receiving financing from an investor group in January.
Chairman Q. T. Wiles, who is also chairman of the investment banking firm Hambrecht & Quist Inc., becomes chief executive of Culver City-based Rexon. Ben C. Wang, 61, Rexon’s founder, has been named vice chairman and chief technology officer, while Michael O. Preletz, 47, replaces Wang as president and becomes chief operating officer.
For the record:
12:00 a.m. June 8, 1985 FOR THE RECORD
Los Angeles Times Saturday June 8, 1985 Home Edition Business Part 4 Page 2 Column 3 Financial Desk 1 inches; 34 words Type of Material: Correction
For the calendar year 1984, Birtcher Corp. of El Monte reported a profit of $3.4 million on sales of $7.1 million. Based on information supplied by a company representative, the results were incorrectly reported in The Times earlier this week.
Hambrecht & Quist led the investor group that provided the money-losing Rexon with a capital infusion of $6 million in exchange for about 60% of Rexon’s stock. Wiles, 65, became chairman of Rexon in January.
“This reorganization frees Dr. Wang to focus his expertise on advanced marketing and technology development, which is so critical to the long-term success of Rexon Business Machines and Wangtek Inc.,” Rexon’s two subsidiaries, Wiles said in a statement.
Elaborating on that in an interview, Wiles said that Wang holds “a definite strategic role” in the new structure, helping Wiles and Preletz “figure out where the company should be going next in the marketplace and technology.” Rexon lost $4.3 million on sales of $9.9 million in the six months ended March 31.
Casino U.S.A. Inc., the Santa Monica-based subsidiary of a French firm, named Robert J. Emmons as president and chief executive to succeed Donald J. Roose, who was appointed chairman.
Emmons assumes the posts in addition to his current duties as president and chief executive of Casino’s Smart & Final Iris division. Roose assumes the chairmanship from Antoine Guichard, chairman of the Casino’s French parent, Etablissements Economiques du Casino, Guichard, Perrachon & Cie, which bought Thriftimart, parent of Smart & Final, last year.
Birtcher Corp., an ailing medical-technology company based in El Monte, has named William J. Fisher, a Newport Beach management consultant, to its board.
Birtcher Chairman E. V. Jarvis said Fisher will be involved as the board’s day-to-day representative to the company’s management team. Fisher, director of William Fisher & Co., has helped to turn around several medical and biotechnology companies in recent years. Birtcher lost $3.4 million on sales of $7.1 million last year.
