Larry Mihalchik, who had been the top executive at Atex since January 1997, has been replaced as president and CEO by Karen Weltchek, 32, a 10-year veteran of the consulting business who most recently was with McKinsey & Co. Weltchek and McKinsey have been working with Atex since January to assist in corporate and product strategy.

Knut Holli, executive vice president of Kistefos Industrial Group of Norway -- Atex's largest shareholder -- has been elected chairman of the board.

In addition, the company said that Max Coebergh, senior vice president for international operations, has been given broadened responsibility as head of global media operations, which now consists of international operations, North American operations, engineering and marketing.

"The way to best put it is that [Mihalchik and the board] came to a mutual agreement," for him to leave the company, said Weltchek. "They developed a dialog where they determined that he's done what he needs to do and that it's time for him to move on," she said.

Weltchek would not go into any more details about Mihalchik's departure, but did say that he will be missed at Atex. "Everybody is really, really fond of Larry. I would not be stepping over the line in saying that he's a friend and a motivational leader. We all wish Larry well."

The new chief executive emphasized that this change in management did not signal a change in ownership. "The nature of the ownership is the same since Atex was separated from Sysdeco," Weltchek said, referring to the December 1996 investor buyout of the company. Under the buyout, investors of the Norwegian Sysdeco and others purchased the publishing systems division from the company. The division was made up of a variety of publishing system companies, the largest being the original Atex.

Weltchek also emphasized that her new role indicated no change in business direction. "We want to make sure that Atex Media Solutions' core business is selling to newspapers the products that [they're] familiar with," she said.

Citing a "tremendous depth of newspaper experience," Weltchek said that she did not envision any other changes soon in the Atex management team.

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