American Science & Engineering Picks a New CEO
Mar 15th 2013 1:03PM
Updated Mar 15th 2013 1:06PM
Backscatter X-ray pioneer American Science & Engineering , bane of body-shy airport travelers across the nation, announced Thursday that after Chief Executive Officer Anthony Fabiano retires, after 10 years at the company's head, he will be replaced April 8 by ex-Tyco exec Charles P. Dougherty.
Dougherty joins AS&E at a tricky point in the company's business cycle. In February, the company reported fiscal Q3 earnings that showed order bookings up 9% year over year, and backlog up 5%. Sales and profits were both down, however. And at the time, Fabiano said global economic uncertainties continue to impact spending in our sector -- affecting us and our competitors with lower business volumes for products," and forcing the company to adopt "cost-saving measures."
According to an SEC filing, the company's agreement with Dougherty includes a base salary of $550,000 with a possible annual bonus equal to 100% of the base salary.
The article American Science & Engineering Picks a New CEO originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.