Qureshey Names His Successor at AST Research

AST Research Inc. announced Tuesday that co-founder Safi Qureshey has stepped down as president and will be succeeded by James T. Schraith.

The company said the change will allow Qureshey, who has served as president since co-founding the computer company in 1980, to concentrate on strategic rather than day-to-day concerns. The 43-year-old Pakistani immigrant will remain as chairman.

Schraith, who will also be chief operating officer, has held several positions with AST, most recently senior vice president for sales and service operations.

Andrew J. Neff, an analyst for the brokerage Bear Stearns & Co. in New York, said Schraith will serve AST well as the company continues to grow. “They need more management, and they recognize the guy is doing a good job.”

At 36, Schraith continues the company’s custom of choosing youthful managers.

“I’m excited. I think the company has a great future,” Schraith said in an interview Tuesday. He said he will focus on profitability and market share for Irvine-based AST, which is the nation’s fifth-largest computer maker. In the short term, he said, there will be no major changes in operations.

Schraith, who was trained as an electronics technician, came to California from Milwaukee at age 20 to work as a field service engineer for Schlumberger Ltd., an oil field services company. He joined AST in 1987 as director of customer service and rose through the ranks.

For 1993 he was the 92nd highest-paid executive among publicly held companies in Orange County, earning $595,067, according to corporate disclosure filings. The company would not say Tuesday what his new job will pay.

Qureshey credits Schraith with improving AST’s sales in Japan and fostering teamwork.

“Jim becomes my partner in moving the company forward,” Qureshey said.

As part of Tuesday’s management changes, Chief Financial Officer Bruce C. Edwards becomes executive vice president. All of the changes are effective immediately.

AST was founded by Qureshey and two friends, Thomas Yuen and Albert Wong, to develop enhancements to IBM personal computers. The company subsequently developed its own line of PCs.

Despite intense competition in recent years, AST has thrived by selling overseas, notably in China and other Asian nations.

The company reported earnings of $13.2 million for its latest fiscal quarter. Qureshey told analysts recently that he expects sales for 1994 to reach $2.4 billion.

In Tuesday’s Nasdaq trading, AST’s stock closed at $14.37.