Hudspeth Resigns as CEO of Technology Marketing

Technology Marketing Inc., a small Irvine computer company, said Wednesday that Gerald T. Hudspeth, president and chief executive, has resigned.

The company’s board elected John S. Kerr, a director since 1988, to the vacant position of chairman and said he would oversee the company’s operations until a replacement for Hudspeth is found.

“Mr. Hudspeth wanted to do some other things,” Kerr said. “We parted amicably. We respect him highly and were glad to have him here.”

Hudspeth joined Technology Marketing in mid-1987 and was named president and chief executive of the firm in December, 1987.

Technology Marketing is a manufacturer of computer storage devices, circuit board testing equipment and computer design.

Earlier this month, Technology Marketing dropped its effort to acquire Computer Automation Inc., an Irvine computer company, in a deal valued at $4.1 million. Kerr said the acquisition attempt and Hudspeth’s resignation were unrelated.

The Irvine firm reported sharply lower sales and earnings for the six months ended Aug. 31. Earnings fell 58% to $264,141, down from $625,343 in the year-earlier period. Sales declined 25% to $4.6 million, from $6.1 million.

Kerr said Hudspeth’s departure also was unrelated to the company’s declining financial performance.