OTHER NEWS - July 1, 1993

Westinghouse Picks New Chief: A five-month search for a new chief executive ended with the selection of Michael H. Jordan, a 57-year-old former Pepsico Inc. executive. His election broke a tradition of promoting executives from within the company. Analysts said they are relieved that a decision was made, and said Jordan’s credentials as a veteran of several management positions at Pepsico and a certified nuclear engineer look strong on paper. The top post at Westinghouse had been vacant since Jan. 27, after the company experienced problems with its credit unit and Paul E. Lego retired unexpectedly. Gary Clark, who served as president and acting CEO and for a time and was considered a candidate for the permanent position, will continue as president and a member of the board, Westinghouse said in a statement. Richard Morrow, who had been acting chairman, will remain a director. Westinghouse stock rose 87.5 cents to $15.875 on the New York Stock Exchange.