Zenith Defeats Attempt to Replace Directors: Zenith...
From Times Staff and Wire Reports
Zenith Defeats Attempt to Replace Directors: Zenith Electronics Corp. appears to have defeated an attempt by its largest shareholder, Nycor Inc., to replace three of the television maker’s 10 directors, both sides said. But Nycor will continue to press Zenith’s management to cut costs and might try to gain control of the company through other means, Nycor Chief Executive Sal Giordano Jr. told reporters after Zenith’s annual shareholders meeting. Zenith’s had a $23.7-million loss in the first quarter compared with a loss of $4 million in the same period a year ago, the company reported.
