Systonetics Inc. president and chief executive Richard I. Tanaka resigned Wednesday as the company said it expects to report a $275,000 loss on revenues of $2.2 million for the quarter ended May 31. The company posted a $28,000 profit on $2.5 million in revenues for the same quarter last year.
Tanaka will be replaced by David Hunt, who has been Systonetic's vice president of sales since May 1985. Tanaka was named president and chief operating officer in November 1980. He became chief operating officer in the summer of 1981.
"He (Tanaka) felt that based on the performance of the company that the board should be free to choose a new leader," said Dave Larsen, chief financial officer for the Fullerton management software systems producer. Larsen would not comment further. Tanaka was not available for comment Wednesday.