CARROLLTON, Texas-Cell-phone distributor CellStar Corp. said it fired its chairman of the board of the subsidiary that oversees its Asian operations. Terry S. Parker, who was named to the post in April 2004, was terminated July 14.
CellStar has been experiencing financial problems in recent months. It was delisted from the Nasdaq in June after failing to gain an extension to file its 2004 annual report and its 2005 first-quarter report. It canceled a planned Chinese initial public offering in 2004 and has suffered from declining revenues.
Parker formerly served as chief executive officer of the company before being named to chairman of the board of CellStar International Corp./Asia.
