Control Data's finance chief to leave firm

Article Abstract:

John K. Buckner, chief financial officer of Control Data Corp, is resigning from the computer company after a three-year stay. His decision appears to be the result of the appointment of Lawrence Perlman as president and CEO, making it likely that Perlman and not Buckner will succeed CEO Robert M. Price when he steps down. Buckner joined Control data in 1986, when he immediately plunged into managing the company's financial problems. He quickly negotiated with the company's group of 27 banks to restructure its debt, announced a public offering and sold a number of the company's assets. The company and its computer chip operation, VTC Inc, are still plagued by problems, but Buckner has not been faulted for their existence. Buckner, 52, has no immediate employment plans.

Chief financial officers, Chief executive officers, Perlman, Lawrence, Chief operating officers, Buckner, John K.

---

Control Data chairman Robert Price to relinquish chief executive position

Article Abstract:

Control Data CEO Robert M. Price, in response to criticism of his management of the company, announces his decision to step down from the office. A successor will be named within three months. Control Data's decision to look outside the company for Mr. Price's replacement does not mean that president and chief operating officer Lawrence Perlman will not be recommended. According to Mr. Price, the outside search will only reinforce Mr. Perlman's candidacy. Mr. Perlman was largely responsible for reviving Control Data's disk-drive business, Imprimis, which will soon be sold to Seagate Technology for $450 million.

Computer storage devices, Mergers, acquisitions and divestments, Employment, Divestiture, Divestment, Acquisition, Perlman, Larry, Imprimis Technology Inc., Seagate Technology L.L.C., SGAT

---

Control Data Corp.'s chairman decides against re-election; Price bows to the anger of workers, community over retirement package

Article Abstract:

Robert M. Price will not seek re-election as chairman of Control Data Corp due to increasing anger over his $5 million retirement package. Under Price's guidance, Control Data, a computer products and services company, has lost hundreds of millions of dollars and laid off thousands of employees. Price is the third Control Data executive to receive large payments upon retirement. Founder William C. Norris received a $9 million bequest to help finance a private institute, and Vice Chairman Norbert Berg received a $3.2 million lump-sum payment, stock, an annuity and a leased car.

Employee benefits, Retirement, Chairmen

Similar abstracts:

• Abstracts: Chrysler looks to start again. Ford's charger is forced to retreat. VW may find overtaking competitors difficult
• Abstracts: Daring to be different pays off. Consolidation lite seems to work. The company doctor
• Abstracts: Finance10. Deltek Government Contractor Software Series. The planning partner
• Abstracts: Bush seeks to give Eastern Europe, Soviets expanded access to Western technology. U.S. adds laptop computers to listing of products that can be sold to Soviets
• Abstracts: Japan chip makers reach agreement with EC on prices. AT&T to get license from NEC that lets it enter a chip market; U.S. giant to share capacity under gate-array pact; more talks are planned

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.