Unisys Names New President
BLUE BELL, Pa. (AP) _ Unisys Corp., restructuring after the loss of two top executives last month, said Monday it has named Reto Braun president and chief operating officer.
Braun had been a Unisys executive vice president since May. In that post he directed marketing operations for all areas of the world except Europe for the computer company, which has been struggling to return to profitability.
The title of president had been held by James A. Unruh, Unisys’ chairman and chief executive officer. Unruh also held the title chief operating officer before his appointment as chairman and CEO last April, but that title had not been used since then, said Unisys spokesman Peter Hynes.
Under the new arrangement, worldwide computer product development, manufacturing and marketing operations will report to Braun, Unisys said.
However, Braun, a native of Switzerland, will not oversee Unisys’ defense operations, as well as several other areas such as finance and legal, which will continue to report to Unruh.
Under U.S. regulations, foreign citizens are prohibited from certain high- level jobs in defense businesses. Unisys derives about a quarter of its revenue from defense contracts.
Unisys said Feb. 28 that Braun had been named to the board of directors. The election of Robert McClements Jr., chairman and CEO of Sun Co. Inc., was announced the same day.
Braun, 49, was group vice president of Memorex International in London when Burroughs Corp., a predecessor of Unisys, acquired Memorex in 1981. He left Burroughs in 1983 to be president of Trilogy International, headed by computer innovator Gene Amdahl. Braun returned the following year to Burroughs, which changed its name to Unisys after acquiring Sperry Corp. in 1986.
″He is well versed in the marketing and product aspects of our industry and is clearly an internationist in an industry that demands a global perspective,″ Unruh said in a statement.
Cyril Yansouni, another executive vice president, quit last month to become chairman and chief executive of Read-Rite Corp., a small maker of computer disk-drive components.
Earlier in February, Vice President Curt Hessler resigned, citing family reasons. He became an executive with Times Mirror Co.
Unisys, the nation’s third-largest computer maker, lost $551 million last year on revenue of $10.1 billion. It is burdened by a huge debt that forced it to pay almost $450 million in interest payments in 1990.