American Building Control CEO resigns
January 23, 2003
LEWISVILLE, Texas - The chief executive officer of American Building Control, formerly known as Ultrak, stepped down from his post, the third time in less than a year the company has had a change in that post.
Company officials did not say in a press release why Niklaus Zenger resigned from his post, but attributed a new business strategy at the company to his tenure. The strategy included the December 2002 sale of UltrakÃ¢â‚¬â„¢s CCTV division to Honeywell, and restructuring of the company into core business units, reducing operating expenses and increasing profit margins.
Ã¢â‚¬Å“When I had to take over, the company was in a very difficult situation,Ã¢â‚¬Â Zenger said. The company today is well positioned to service future security needs with a talented employee pool, he said.
Zenger became CEO last summer after the resignation of George Broady a few months prior; the two shared leadership after then President and CEO Peter Beare left the company.
Bryan C.W. Tate, a member of the board of directors since October 2001, will become CEO. Tate was formerly the head of Digitel, a privately held telecommunications company in Atlanta.