Borg-Warner Names Ex-UAL President CEO

Borg-Warner Security Corp., North America’s No. 1 provider of armed security services, hired John Edwardson as president and chief executive after he resigned as president of UAL Corp., the world’s largest airline company. Edwardson, 49, stepped down in September from the parent of United Airlines, where he also was chief operating officer, because he failed to win the support of the pilots and machinists unions at UAL, which is about 55%-owned by its employees. Edwardson joined Chicago-based UAL in July 1994 and was initially expected to become the airline’s top executive this year. Borg-Warner Security, the Chicago-based provider of security under the Burns and Wells Fargo names, recently completed a three-year program that strengthened its balance sheet and improved returns on capital. Borg-Warner shares closed down 6 cents at $18.13 on the NYSE.