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Telenetics Fills Chairman, CEO and Operations Posts

September 12, 2000|DOW JONES

Telenetics Corp., a Lake Forest provider of wireless technologies and products, said Monday that it has named Shala Shashani as chairman and Terry Parker as president and chief executive.

The company said in a press release that Shashani and Parker replace Michael Armani, who was named chairman emeritus.

Shashani, a major shareholder and director for four years, heads SMC Group, an Orange County management consulting firm. Parker has held various managerial positions with GTE Corp.

Telenetics also appointed John McLean to the new position of chief operating officer. He had been the company's executive vice president, operations. The company also named Brad Jacobs to its board, though it did not say whether he filled a new or existing seat on the board.

The company's stock, which trades on the Nasdaq small-cap market, lost 22 cents Monday to close at $2.38 a share. The company lost $3.9 million in the first six months this year on revenue of 4.8 million.

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