GTI Corp. has moved its corporate offices to Burbank, the company said Monday. The decision was made during an April board of directors meeting, according to GTI Vice President Ron Lust. However, the company, which has been in San Diego for 10 years, will keep its accounting office in La Jolla, at least until the end of the year, Lust said.
At last week's board meeting in Universal City, GTI reelected five board members to an additional year in office. GTI also voted to reincorporate in the state of Delaware and to adopt favorable officer and director liability limits that are provided for in Delaware general corporation law.
GTI increased the number of common shares to 12 million from 6 million and boosted its preferred shares total to 1 million from 400,000.
Earlier this year, a South African firm acquired 38% of GTI's stock.