Chairman Replaced at Certron Corp.
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One month after Certron Corp.’s majority shareholder demanded his ouster, Edwin R. Gamson has been replaced as chairman and chief executive of the Anaheim firm, company officials said Friday.
The board of Certron, a manufacturer of consumer magnetic tapes, has elected Marshall I. Kass to replace Gamson, according to a prepared statement from the company. Kass has been a Certron director since March.
Kass also is president of Louart Corp., a Los Angeles investment firm and Certron’s largest stockholder. At a meeting Nov. 4, Kass asked Gamson to step down as chairman and chief executive and suggested that he replace Gamson. Louart holds just over 32% of Certron’s stock.
“I feel the company can become more profitable and that the position of chief executive should be strengthened,” Kass said in a November interview.
Gamson will continue with Certron during a transition period through March 31, 1989, and thereafter as a consultant through Nov. 30, 1991, the prepared statement said. Neither Gamson nor Kass could be reached for comment late Friday.
“Mr. Gamson chose to leave his position as chairman and CEO,” said Certron President Graydon Carlson. He declined Friday to comment on the relationship between Kass’ demand and Gamson’s departure.
During the first 9 months of its 1989 fiscal year, Certron’s earnings declined to $122,000, from $205,000, on flat sales of $20.3 million. The company reported a $54-million loss for the third quarter ended July 31.
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