2 Leave Director Posts at Everest & Jennings

Everest & Jennings International, Camarillo, announced the resignations of Robert G. Sutherland, chairman, and Terry Vandewarker from its board of directors.

Both Sutherland and Vandewarker are affiliated with Industrial Equity (Pacific) Limited (IEP), a substantial stockholder and creditor of Everest & Jennings.

The reason given for the resignations was possible conflict of interest. Everest & Jennings said potential conflicts between the company and IEP might arise as Everest & Jennings seeks to reach agreement with its primary domestic lender on long-term financing arrangements. The wheelchair manufacturer has been operating for several weeks on the basis of informal day-to-day waivers and extensions by its primary domestic lender.