Brief: Ross Perot Names Son to Head Company

H. Ross Perot Sr. Tuesday named his son, H. Ross Perot Jr., as the new president and CEO of his company, effective immediately.þThe 70-year-old billionaire businessman and former presidential candidate named his 41-year-old son to take over Dallas-based Perot Systems Corp. The elder Perot founded Perot Systems in 1988 after selling Electronic Data Systems Corp. to General Motors Corp.þ"Ross has a solid track record of success in all facets of the business environment, with a strong background in strategy, operations and business development," the elder Perot said in a statement. "His successes, along with his deep commitment to take Perot Systems to the next level of becoming a global business and technology solutions leader, will be a valuable addition to our outstanding leadership team. All of our senior leaders have enthusiastically endorsed this decision." Perot Systems reported revenue of US$1.1 billion last year and has operations in the U.S., Europe and Asia.þMeanwhile, the younger Perot will remain chairman of Hillwood Development Corp. in Dallas, which he founded in 1988. Hillwood is a privately held real-estate company. Hillwood's day-to-day operations will continue to be led by CEO Rick Patterson.

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