AST Research Inc. said co-founder, chairman and...

AST Research Inc. said co-founder, chairman and chief executive Safi U. Qureshey will give up his role as president in order to focus on product development and strategy. James T. Schraith, who most recently was AST’s senior vice president for sales and service, was named president. . . . Cisco Systems Inc. said it signed a definitive agreement to acquire closely held Newport Beach-based Newport Systems Solutions for about $95 million. . . . Hasbro Inc. said it is selling its shares in J.W. Spear & Sons to El Segundo-based Mattel Inc., conceding that its rival has won a bidding war for the British game company. . . . Jenny Craig Inc. named Michael Jeub the company’s third chief financial officer in less than a year. The Del Mar, Calif.-based company said Jeub replaces W. James Mallen, who has retired. . . . Chevron said it sold its historic San Francisco headquarters building at 225 Bush St. as part of a companywide restructuring. Terms and the buyer were not disclosed. . . . Houston Industries Inc. confirmed that it is in talks with Time Warner Inc. to create the nation’s fifth-largest cable television company, with 2.4 million subscribers. . . . Los Angeles advertising agency DMB&B; has picked up the estimated $15-million account for Woodland Hills-based Blue Cross. The account was formerly handled by BBDO Los Angeles.