Backscatter X-ray pioneer American Science & Engineering (NASDAQ:ASEI), bane of body-shy airport travelers across the nation, announced Thursday that after Chief Executive Officer Anthony Fabiano retires, after 10 years at the company's head, he will be replaced April 8 by ex-Tyco exec Charles P. Dougherty.
Dougherty joins AS&E at a tricky point in the company's business cycle. In February, the company reported fiscal Q3 earnings that showed order bookings up 9% year over year, and backlog up 5%. Sales and profits were both down, however. And at the time, Fabiano said global economic uncertainties continue to impact spending in our sector -- affecting us and our competitors with lower business volumes for products," and forcing the company to adopt "cost-saving measures."
According to an SEC filing, the company's agreement with Dougherty includes a base salary of $550,000 with a possible annual bonus equal to 100% of the base salary.