Chatsworth, CA--March 26, 1997--StreamLogic Corp. announced that Michael O. Preletz has been appointed chairman, CEO, and president.
Preletz is the former chairman and CEO of Read-Rite Inc. and ADAC Laboratories. Preletz succeeds J. Larry Smart, who resigned from the company and its board.
In view of the company's ongoing losses from operations, Preletz stated that his first task will be to gain a clear understanding of the options available to the company. Initially, these appear to be a restructuring of certain internal operations, liquidating surplus assets, obtaining structured debt, or equity financing.
Return to Headlines