Odetics Names Strom CEO of Its Gyyr Unit

Odetics Inc. named a new president and chief executive officer Friday to head a subsidiary that the Anaheim-based supplier of communication equipment has considered spinning off. Peter Strom, formerly vice president of sales for the unit, Gyyr Inc., assumes his new executive role there immediately. He replaces Frank Borst, who resigned to pursue other interests, the company said. Gyyr makes television security systems for the banking and retail industries. As Odetics began to streamline its product line over the last year, it announced plans to change its corporate strategy. In April, the Anaheim company asked the Internal Revenue Service whether it would be taxed if it spun off Gyyr and another subsidiary. At the time, company officials said it would take the IRS six to nine months to respond.