SelecTronics Names Roy Haythorn President and CEO
PITTSFORD, N.Y. — July 15, 1993 — SelecTronics Inc. (OTC:SELE) has named Roy W. Haythorn as president, chief executive officer, and chairman of the board.
Haythorn will also serve as the chief executive officer of its wholly-owned subsidiary, Microlytics Inc. Haythorn replaces David J. Olek who resigned from the company on June 29 to pursue other opportunities.
Previously, Haythorn spent 28 years at Xerox Corp. in various sales, marketing and general management assignments. As vice president of marketing for Xerox in the U.S., he teamed with the development and manufacturing communities to launch the highly successful "50 Series" of products that contributed to the well-publicized Xerox recovery. As a senior operations manager, he continually displayed the results orientation that led to the revived revenue and profit growth required to help move Xerox successfully into the 90's. Haythorn most recently served as founder and president of TQN Publishing, a sister company of "The Quality Network," a Rochester-based total quality management consulting and training firm.
Haythorn's new challenge will be to mold SelecTronics into a responsive, efficient engineering and marketing organization that capitalizes on existing company strengths in the areas of advanced text compression and retrieval technology, licensing, and commercialization of software.
Haythorn stated, "Our most valued asset is our customers. Much of my effort will be directed at applying the quality principles implemented while at Xerox to understand the needs of our customers so we may direct development and marketing efforts to meet their needs."
SelecTronics changed its business strategy two years ago to shift the risk of finished goods production and inventory costs to business partners who were in a better position to manage those risks. This strategy created joint ventures with Eurotronics and Fuji Xerox which currently generate a substantial portion of Selectronics' revenues. Licensing arrangements through Microlytics with Apple Computer, Claris Corp., Symantec, Lotus, Caere, Casio, Sharp Electronics, and over 80 additional firms provide both revenue to SelecTronics and connections to the world of Personal Digital Assistant (PDA) products.
Haythorn said, "Content for use on PDA's and Microlytics' proprietary compression technologies, created through the company's alliance with Xerox Corp.'s Palo Alto Research Center (PARC), will be competitive strengths for many new market opportunities." Microlytics also holds several licenses with reference content providers including Berlitz Publishing, Random House Inc., and Macmillan Publishing.
Haythorn received his bachelor of science from Upsala College and his Master of Business Administration from Monmouth College. He lives with his family in Pittsford.
CONTACT:
SelecTronics Inc., Pittsford
Carolyn Hotchkiss, 716/248-3875