Turmoil continues at medical imaging firm Del Global Technologies. President, CEO, and chairman Leonard Trugman has agreed to resign to pursue other opportunities, according to the Valhalla, NY-based firm.
In recent months, Del has fired the president and CFO of its Medical Systems Group, been delisted from the NASDAQ, and delayed filing its Form 10K with the Securities and Exchange Commission.
In announcing Trugman’s resignation Tuesday, Del also said the SEC has issued a formal order for an investigation into the activities of certain unnamed persons and the company with respect to its financial statements, financial condition, results of operation, accounting entries, practices and policies, and trading in the company's stock. Del has retained counsel and plans to cooperate fully with the investigation, according to the vendor.
To replace Trugman, Del’s board of directors has named Samuel Park as acting president and CEO. In addition, Thomas Gilboy has been appointed CFO, and Carole Murphy will serve as corporate controller. Roger Winston was elected as chairman of the board. In an unrelated move, George Solomon has resigned from the board of directors.
By AuntMinnie.com staff writersFebruary 27, 2001
Related Reading
Del fires president, CFO of medical imaging group, January 31, 2001
Nasdaq delists x-ray vendor Del, December 20, 2000
Del delays fiscal 2000 statement, anticipates loss, November 7, 2000
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