Comsat taps chief of unit to fill president's position

April 20, 1991|By Leslie Cauley

Communications Satellite Corp. named Bruce L. Crockett president and chief operating officer yesterday, filling a position that had been vacant since 1987.

The appointment was effective immediately.

Mr. Crockett had been president of Comsat's largest unit, the World Systems Division.

As president and chief operating officer, Mr. Crockett will assume responsibility for day-to-day operations of the entire corporation, a spokesman, Richard McGraw, said.

All of Washington-based Comsat's operating units -- Comsat Systems, Comsat Video, World Systems, Intelsat, Comsat Mobile and Comsat Laboratories -- will report to Mr. Crockett.

The corporate staff will continue to report to Irving Goldstein, Comsat's chairman and chief executive officer.

Mr. Crockett said yesterday that his first mandate is to "shore up the balance sheet" at Comsat by continuing to grow Comsat's businesses.

That would include trying to turn around Clarksburg-based Comsat Video Enterprises, the money-losing hotel entertainment arm of Comsat.

As a result of the video unit's losses last year, Comsat was forced to take a write-off that led to a $16 million net loss for 1990.

"We've got our work cut out for us there," Mr. Crockett said. "Long term opportunities [for Comsat Video] remain to be seen. Facts and circumstances will determine if, or how long, we will stay in that business."

Mr. Crockett joined Comsat Corp. in 1980 as a vice president of finance and treasurer of its Comsat General subsidiary.

During his 11-year tenure at Comsat, Mr. Crockett has served in a variety of positions, including that of chief financial officer and general manager of Intelsat, the international satellite consortium to which Comsat is the U.S. signatory.

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