HIGH TECHNOLOGY
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De Benedetti Takes Full Control: Industrialist Carlo De Benedetti announced that he is assuming full management control of computer-maker Olivetti in a surprise move that analysts said reflected a deepening crisis at the money-losing company. In a brief statement, Olivetti said only that the decision reflected the deepening problems facing the information-technology industry worldwide. De Benedetti, who is chairman and majority shareholder, will take over day-to-day operational command from Vittorio Cassoni, who will head the group’s international affairs and report to De Benedetti. De Benedetti led a turnaround in 1978 that returned Olivetti to profitability, but the company lost nearly $60 million in the first six months of 1991 and expects no improvement in the second half of the year.
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