Merisel Names Chief, Aiming to Return to Profitability
* David Sadler has been named president, chief executive and chief operating officer of Merisel Inc., an El Segundo-based computer hardware and software distributor. Sadler succeeds James Illson, who resigned in January. For the quarter ended March 31, Merisel posted a wider-than-anticipated operating loss and recently cut 400 jobs.
Before his appointment, Sadler had been working with the company in a consulting capacity. He has an extensive background in finance and operations, and brings to Merisel a successful track record in returning companies to profitability. “My goal as Merisel’s chief executive is very simply stated,†Sadler said. “‘We intend to return the company to profitability as quickly as possible.â€
For the record:
12:00 a.m. Aug. 11, 2000 For the Record
Los Angeles Times Friday August 11, 2000 Home Edition Business Part C Page 3 Financial Desk 2 inches; 56 words Type of Material: Correction
People in Business--An item in Tuesday’s Business section about the appointment of David Sadler as the new president, chief executive and chief operating officer of Merisel Inc. was incorrect. Sadler succeeds Dwight Steffensen, former chairman, CEO and president of the El Segundo-based computer hardware and software distributor. Steffensen will remain on the Merisel board as a director.
On Monday, Merisel shares were unchanged at 56 cents on Nasdaq.
* Semper Resources Inc. has named Galen Dean Loven president and chief executive. Loven was CEO of Norad Corp., which is being acquired by Santa Monica-based Semper, a hardwoods grower.
* Michael Aarons has joined Los Angeles-based Manufacturers Bank as senior vice president, director of marketing and product management. He previously was an executive at Chicago Title Co.
* First Financial Credit Union of West Covina has promoted Frederick Hulem to executive vice president and chief financial officer and Carlton Mussman to senior vice president with duties overseeing the retail banking delivery division.
* WebVision Inc., a Torrance-based provider of e-business solutions, has appointed Stephen DuBose as vice president of planning and corporate development. A former strategic planning executive at Merrill Lynch Capital Markets, he will oversee planning for business operations, research and development, administration and corporate development.
