The management shake-up at computer leasing company Meridian International NV hinted at on Friday (CI No 1,318) was announced yesterday, but following the decision of Inspectorate International AG in September to upgrade its share exchange agreement with Adia SA to a full merger (CI No 1,256), the expanded Adia SA has decided to keep Meridian, or at least retain a majority stake in it. Patrice Courbey replaces Ian Orrock as chief executive of Meridian, and he will be joined on the executive board by Meridian’s operations director Tim McGinn, Yves Paternot, chief executive of Adia, and Harvey Kinzelberg and Timothy Ozark, the top two officers of the US end, Meridian Leasing Corp. The priority of the new management team is to integrate the US operations more closely with the European end of the business. Adia hopes to bring in a finance house or a bank as a minority partner in the leasing arm.
