LINCOLN, R.I. (WSJ.COM) — A.T. Cross officials said that the company’s top pen-computing executive, John E. Buckley, is retiring as executive vice president and chief operating officer at the end of the year.
Cross, a maker of pens and pen-based computers, said it would name a new head of the pen-computing business next month.
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
Buckley joined Cross in 1975 as controller and became executive vice president and COO in 1993. Following his resignation, he will remain a member of the Cross board. The company said his work this year on the pen-computing business culminated in the recent launch of the Cross Convergence pen, which links print to the Internet.
The announcement of Mr. Buckley’s resignation came a day after a separate announcement that the company will consolidate its U.S. and Irish distribution operations at its headquarters in Lincoln, and will take a related pretax restructuring charge of about $5 million in the fourth quarter. The move will result in about 60 permanent job cuts, or 8 percent of the company’s work force, as well as “a number of” temporary positions, A.T. Cross officials said. The move is expected to generate about $2 million of pretax annual savings, officials said.
