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Major shakeup at General Magic
September 19, 1996
John Zimmerman, who served as CFO and senior vice president for finances and administration, has stepped down to pursue other interests, according to the company. Steve Markman, General Magic chairman, president, and chief executive, will assume Zimmerman's CFO duties, the company said today.
Other management changes at the Sunnyvale, California-based company include the appointment of Robyn R. Cerutti as company controller. Cerutti, who served as chief financial officer of Swan Instruments, will report to Markman.
Kevin Surace was appointed of vice president and general manager. Surace, who has worked in the telecommunications industry for several years, is charged with developing General Magic's telephony business plan, the company said.
General Magic has been battered by a series of setbacks this year. AT&T reduced its ties to the company and Sony killed its plans to make a handheld computer using the company's Magic Cap operating system.
In October, General Magic announced plans to cut 28.6 percent of its workforce, bringing its total employment to 200 regular and contract workers.
