Irvine Sensors Chief Steps Down as Losses Continue

Irvine Sensors Corp. said its president and chief executive, Kenneth T. Lian, resigned from his posts but will remain at the company as senior vice president and chief operating officer.

Chairman James Alexiou resumed the responsibilities of president and chief executive, and will focus on restructuring operations to stem losses, the computer electronics company said.

Irvine Sensors said Wednesday that it expects fourth-quarter losses to be larger than the $3.2-million loss posted for the third quarter. The company attributed the losses to declining margins and delays in government procurements.