April 6, 2018 / 12:48 PM / 8 months ago

BRIEF-Safeguard Scientifics ‍Says Three Senior Executives To Depart

April 6 (Reuters) - Safeguard Scientifics Inc:

* ‍VARIOUS ROLES TO BE ELIMINATED OR COMBINED​

* COST-REDUCTION INITIATIVES INTENDED TO BETTER ALIGN COST STRUCTURE WITH STRATEGY TO REDUCE OPERATING COSTS

* ‍STEPHEN T. ZARRILLI, WHO HAS SERVED AS SAFEGUARD'S PRESIDENT AND CHIEF EXECUTIVE OFFICER, WILL RETIRE FROM SAFEGUARD​

* ‍SAFEGUARD'S BOARD APPOINTED BRIAN J. SISKO TO SUCCEED ZARRILLI AS PRESIDENT AND CEO, EFFECTIVE JULY 1, 2018​

* CO'S CURRENT CHIEF FINANCIAL OFFICER, JEFFREY MCGROARTY, WILL DEPART EFFECTIVE JUNE 30, 2018​

* EXECUTIVE EMPLOYEE UNTIL SEPT30, 2018

* SEES ONGOING ANNUALIZED OPER EXPENSES EXCL. INTEREST, DEPRECIATION, SEVERANCE, STOCK-BASED COMPENSATION, TO APPROXIMATE $8-9 MLN Source text for Eikon: Further company coverage:

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