Bruce Walter Named President of GRiD Systems; GRiD’s Annual Revenue Jumps 21 Percent
FREMONT, Calif. — July 22, 1991 — GRiD Systems Corp. Monday announced that Bruce Walter, GRiD's senior vice president of sales and marketing, has been named president of GRiD.
The company also announced that revenue for its 1990-91 fiscal year, which ended June 30, 1991, increased 21 percent over the previous fiscal year to a record $230 million.
Walter, who joined GRiD in 1983 as vice president of sales, replaces Alan Lefkof, GRiD president since Jan. 1, 1990. Walter's appointment is effective today. Lefkof left to pursue other interests.
Walter's appointment is part of a reorganization and restructuring of GRiD, a wholly owned subsidiary of Tandy Corp. GRiD announced in April that this summer it is moving its high volume portable computer manufacturing operations to manufacturing plants in Fort Worth, Texas, operated by Tandy.
From its Fremont headquarters, GRiD will focus on the design, development, marketing, servicing and sales of computers including its leading edge pen-based computers. GRiD is the only manufacturer shipping pen-based computers in North America and Europe.
Walter, 48, previously held general management assignments with Xerox Corp. including general manager of Xerox's typewriter strategic business unit and national sales manager for Xerox office systems products.
The company attributed its 21 percent jump in revenue, up from $190 million in fiscal 1989-90, to several factors including a large increase in government business, higher sales of laptop and notebook computers and significant sales of its pen-based GRiDPAD computer.
GRiD designs, manufactures, markets and services laptop, pen-based and desktop computers, electronic mail and networking systems. GRiD, which has a worldwide direct sales and support organization, demonstrates products at 45 GRiD Systems Centers and sells products through value added resellers. GRiD is located at 47211 Lakeview Blvd., Fremont, CA 94538. GRiD also has offices in the United Kingdom, Canada, Germany, Spain, Sweden, France, Belgium and Denmark.
GRiD is a wholly owned subsidiary of Tandy Corp., Fort Worth. Tandy is a leading manufacturer and distributor of consumer electronics and computers. A New York Stock Exchange company, Tandy has sales in excess of $4.5 billion annually. GRiDPAD is a registered trademark of GRiD Systems Corp.
CONTACT:
GRiD Systems Corp.
Bob Goligoski, 415/656-4700