ATM networking equipment manufacturer Fore Systems Inc has appointed chief operating officer Thomas J. Gill as president and chief executive, effective immediately. Eric Cooper, who co- founded the company and has been CEO since 1990, will remain chairman of the board. Onat Menzilcioglu, also a co-founder who has served as Fore’s president since 1994, will also remain on the board. Cooper and Menzilcioglu will continue to provide strategic guidance for the company. Gill joined the company in 1993 and had served as its vice president of finance and chief financial officer until January 1997, when he was promoted to COO. Fore has seen its bottom line crumble lately as its growth has slowed to a snail’s pace. Its stock has lost about half its value in the last 10 months, leading shareholders to initiate a class action suit. Fore recently reported third-quarter earnings down 21% at $10.1m on revenue which increased 8.3% to $122.1m.
