Zenith to Fight Bid to Unseat Board:...
From Times Staff and Wire Reports
Zenith to Fight Bid to Unseat Board: A large shareholder, Nycor Inc., has said it wants to replace the Zenith board and possibly spin off its unprofitable television business. “Contrary to what Nycor wants stockholders to believe, Zenith has a sound business plan,” said Jerry K. Pearlman, chairman. Glenview, Ill.-based Zenith said its plan relies partly on developing a U.S. standard for high-definition TV. Nycor, based in Basking Ridge, N.J., has said it will solicit shareholder proxies for its own slate of directors at Zenith’s annual meeting April 24.
