Satellite Technology Official Moves On

Satellite Technology Management Inc. said Friday that its chief financial officer, Wayne Blair, is stepping down but will work as a consultant to the company for the next three months.

The parting is amicable, company spokesman Steve Strohman said. Blair, 55, was not available for comment. He joined the company as vice president of finance and chief financial officer in January, 1992, shortly after Satellite Technology went public. Before that, Blair had been a consultant to the company.

Strohman said the duties of chief financial officer and vice president of finance will be reassigned in coming months.

Satellite Technology makes and markets satellite communications networks. Most of its business is overseas. The company’s stock, traded on the Nasdaq market, dropped 12.5 cents a share Friday to close at $7.50.