Woods Quits as Chief Executive of Christiana at Board Meeting

Jarrett E. Woods Jr. resigned as chairman and chief executive of Christiana Co. during a Tuesday board meeting, company officials said.

Joseph P. Antonow, a 30-year company director, will serve as chairman until Christiana’s annual shareholders meeting early next month. Raymond F. Logan, a company director and previously executive vice president, was named president and chief operating officer.

Woods became chairman of Christiana last December when his Dallas-based Western Savings and Loan foreclosed on Summit Savings & Loan, a Plainview, Tex., thrift that had acquired 39% of Christiana’s outstanding stock.

Two weeks ago, federal regulators seized Western Savings and Loan--which is owned by Woods--because it was insolvent. Woods filed suit on Monday in federal court in Dallas, charging that regulators unlawfully seized Western’s assets.

Woods’ ownership stake in Christiana was complicated last July when federal regulators, charging that the institution was insolvent, seized Summit S&L.; The bulk of Summit’s Christiana shares were held by a wholly owned subsidiary that federal regulators seized along with the S&L.;

Joseph L. Biegel, another former Western S&L; official, also resigned Tuesday from Christiana’s board.