Marcel P. Joseph is stepping down as president of Communications Satellite Corp., the quasi-government telecommunications company that earlier this month sold off all but two of its unregulated businesses.
Comsat officials said Joseph told the board of directors that he has accomplished what he set out to do at the company and now wants to move on. He has been negotiating with the board's compensation committee.
"He felt his objectives had been largely accomplished and the company going forward was going to be a regulated company and that was not his experience or interest," said Bruce Sundlun, chairman of the committee.
Comsat announced an $83.8-million net loss for the quarter ended June 30 as the result of the restructuring--it is selling its manufacturing businesses and disposing of two planned direct broadcast satellites.