Symbol Technologies chairman resigns


Symbol Technologies chairman resigns

Symbol Technologies chairman and co-founder Jerome Swartz, has resigned amid internal and US Securities and Exchange Commission investigations into its accounting activities.

Symbol, which provides barcode scanning and wireless systems to transportation, retail and medical companies, said that Leonard Goldner, the company's executive vice-president and general counsel and secretary, has also resigned.

Richard Bravman, the company's chief executive officer, will take over the duties of chairman until a board meeting takes place in October.

William Nuti remains president and chief operating officer of Symbol.

"It is clear that improper finance and accounting activities occurred at Symbol Technolgies during my tenure," Swartz said.

Bravman said that "the company is working diligently to resolve as soon as possible those issues emerging from our internal investigation of past accounting practices".

Bob Brewin writes for Computerworld

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