Business Services Industry
SYS Announces Management Change
Business Wire, Sept 3, 1998
SAN DIEGO--(BUSINESS WIRE)--Sept. 3, 1998--The SYS Board of Directors established an Office of the Chief Executive, a new leadership triumvirate, Chairman Robert D. Mowry announced.
"This action will enable SYS to more effectively pursue significant new business opportunities. The company is evaluating several acquisition targets and business opportunities which will require more management time and new financing," Mowry stated.
The Office of the Chief Executive (OCE) is comprised of Lawrence L. Kavanau, Robert D. Mowry and Charles H. Werner. Kavanau is a director, former chief executive officer and founder of the company, Mowry and Werner are directors and former CEOs of the company.
Reporting to the OCE are Charles E. Vandeveer, executive vice president and Michael W. Fink, vice president of administration. No other organizational changes were made.
Since 1966, SYS has provided engineering, technical and management services to commercial and US government customers. The company has grown steadily in recent years and has several multiple-year management and engineering service contracts with the US Navy.
SYS now seeks acquisitions in the government service and hardware business and to diversify into the commercial and industrial sectors and expand into the computer-related marketplace.
SYS is located at 9620 Chesapeake Drive, San Diego, Calif., 92123 and is publicly traded OTC (Symbol-SYYS).
This news release contains forward-looking statements based on the company's expectations that are subject to a number of risks and uncertainties which can be beyond the company's control.
CONTACT: SYS
SYS Investor Relations, 619/715-5500
sdlsys@aol.com
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