March 28, 1997 5:30 PM ET
Wang creates office of the president; rewards CEO
By Sean Silverthorne and Margaret Kane

  Wang Laboratories Inc. is creating an office of the president and rewarding CEO and Chairman Joseph Tucci with a raise, the company announced Friday.

Long-time Electronic Data Systems Corp. executive Jose Ofman was named president and chief operating officer, Americas.

Also named to the office of the president was Mias van Vuuren, now president and COO, international. Van Vuuren had run Wang's Eastern hemisphere business since 1994.

Both report to Tucci.

Ofman, 53, spent 25 years with Electronic Data Systems, most recently as group executive of the travel and transportation group. He began his career at General Motors Corp. as an engineer.

In an interview, Ofman said it was too early to discuss specific changes he is planning, but a goal will be to standardize operations abroad. Wang has offices in 130 countries.

"This position was created because there is a need for a global uniform look about what Wang can do for customers," said Ofman.

He said the company will continue to be aggressive in seeking out new territories and technologies.

"I can guarantee there will be geographies we need to enter either organically or by acqusition. And there are technologies and technologists we will pursue with vigor."

The company also announced today that Tucci has been given a new contract, which raises his base salary from $605,00 to $750,000, awards him a retention bonus of $4 million, and an increase in restructured stock options and awards. The company said the latter awards were designed to more closely tie his compensation to shareholder value.

Last quarter, Wang, based in Billerica, Mass., earned $4.5 million on sales of $363.7 million. The company said that during Tucci's tenure, Wang's market capitalization had risen from $400 million to nearly $1 billion. Tucci also oversaw the sale of Wang Software to Eastman Kodak for $260 million in January.

Wang offers imaging and workflow services.

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