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April 29, 1997updated 05 Sep 2016 12:02pm

AST NAMES NEW PRESIDENT AND CEO

By CBR Staff Writer

AST Research Inc, the ailing personal computer manufacturer in the process of being acquired by Samsung Electronics Co Ltd, on Monday announced the appointment of Soon-Taek Kim as president and CEO. The move follows the resignation of Young Soo Kim from both positions for what the company says are personal reasons. Curiously, the reasons surfaced one week after AST reported a $110m loss for the first quarter and said it would reduce it workforce by roughly 25%. The company blames lower demand for its products, a competitive pricing environment and product transitions for a 23% slide in first-quarter revenue. Soon-Taek Kim was formerly CEO of Samsung Heavy Industries. Young Soo Kim will remain an AST board member.

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