Donald W. Fuller will resign as chairman, president and chief executive of financially troubled California Amplifier effective July 4, the company said. The new president will be David R. Nichols, 27, a founder of the Camarillo-based satellite dish component firm. No new chairman or chief executive was named.
Fuller, 54, who became chairman in February, also will leave the company's board. California Amplifier said he is resigning because he has little experience in its military business.
The company plans to emphasize the military business now that signal scrambling by pay television services has undermined the satellite dish market.
Seth Feinstein, an analyst with Drake Capital Securities of Santa Monica, said he regarded the announcement as a bad sign. Feinstein said the departure of Fuller, a corporate turnaround specialist, means that the company's problems probably can't be fixed, despite its recent $1.9-million debt restructuring.