Fast-growing Micom Systems Inc., a high-tech company with head offices in the Simi Valley, unveiled a corporate restructuring that divides the company into two divisions and three wholly owned subsidiaries. The company also announced a series of promotions.
The changes "will put into place a corporate structure for a more dispersed and complex company and will assist in establishing better communications, leadership and market focus," President William A. Norred said in a prepared statement. As reasons for the restructuring, he cited Micom's growth--at a compound rate of 85% a year--and its acquisition last week of Interlan Inc., a company involved in Micom's business of supplying cable-based local-area networks, which permit high-speed data transmission between or within computer systems.
Under the reorganization, Interlan will operate as a wholly owned subsidiary called Micom-Interlan Inc. Paul J. Severino, former president of Interlan, becomes chairman of the new unit, and Ashok K. Khawan, formerly Micom vice president-marketing, becomes president. Both are also corporate vice presidents.
The other two wholly owned subsidiaries are Black Box Corp., Pittsburgh, with Eugene R. Yost continuing as president, and Micom-Borer Ltd. of Reading, England, directed by Kenneth G. Baynton.