Business Digest

BUSINESS DIGEST

June 02, 2007

Maryland : Personnel

Integral Systems undergoes shake-up

According to a regulatory filing yesterday, there's been a management shake-up at Lanham's Integral Systems Inc., which builds computer systems that control satellites. Both Chief Executive Officer Peter J. Gaffney and Chief Financial Officer Elaine M. Brown resigned their posts Wednesday to take executive vice president positions. President Thomas L. Gough also quit then, though he will maintain a consulting relationship with the company. Gaffney has been replaced on an interim basis by board director Alan Baldwin, and Brown's position will temporarily be filled by independent business consultant William R. Lewis. The company gave no explanation for the moves. Gaffney took the CEO post last year from Steven R. Chamberlain, who resigned amid charges of inappropriate sexual contact with a teenage girl. He was later convicted. In March, the SEC began questioning Integral Systems for an executive's potentially improper role with the company.

Tricia Bishop

Economy

Sasol closing Fairfield plant

Sasol North America is closing its Fairfield plant in Baltimore harbor, citing increased competition and rising raw materials costs. The plant, which makes detergent chemicals and employs about 50 people, was bought by Sasol in 2001. Management and the International Chemical Workers Union Council will negotiate severance packages in the coming weeks.

Allison Connolly

Acquisitions

MedImmune holders accept deal

Most MedImmune's shareholders - 96 percent - accepted AstraZeneca's offer of $58 per share by the Thursday deadline. The offer representing a 53 percent premium over the closing price of $37.84 April 11, the last trading day before the Gaithersburg biotech announced that it was looking into selling itself. London's AstraZeneca said it will give those who haven't yet tendered their shares until Tuesday to do so. The companies expect the deal to close June 18.

Tricia Bishop

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