WESTINGHOUSE CORP. NUDGES CHAIRMAN OUT

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, January 28, 1993                   TAG: 9301280051
SECTION: BUSINESS                    PAGE: B-5   EDITION: METRO 
SOURCE: Associated Press
DATELINE: PITTSBURGH                                LENGTH: Medium
WESTINGHOUSE CORP. NUDGES CHAIRMAN OUT
Paul Lego is retiring after 2 1/2 stormy years as the chairman and chief executive officer of Westinghouse Electric Corp., the company's board of directors said Wednesday.
Lego, 62, has been dogged by major losses at the credit subsidiary of Westinghouse, one of the nation's biggest and best-known industrial corporations.
He becomes the latest leader of a beleaguered large American business pressured into quitting because of faltering corporate performance. Only 24 hours earlier, International Business Machines Corp. announced its chief executive would be leaving after a troubled tenure at the computer giant.
Institutional investors had pressured Lego to resolve Westinghouse's problems and chart a clear course for the future. Shareholders were expected to push for reform at the company's annual meeting in April.
The board made the announcement in a statement that did not say why Lego is retiring. Lego joined Westinghouse in 1956 as an engineer, gradually moving up the ranks until he was named chairman in July 1990.
The company's director on Wednesday named Gary M. Clark, president of special operations, president and acting chief executive officer and a director of the company.
The search for a permanent chief executive officer will start immediately and the company will consider candidates inside and outside of Westinghouse, Morrow said.
Bad loans at Westinghouse Credit have Paul Lego Plagued by losses cost the company more than $5 billion over the past five years.
Investment analysts applauded when Lego announced in November that the company would dissolve its credit unit and sell four peripheral businesses, including a money-losing office-furniture business and a real estate business.
Lego said the plan would raise enough money to retire all of the credit unit's more than $6 billion debt.
Last week, Westinghouse reported a fourth-quarter loss of $1.18 billion, or $3.44 a share, because of lagging sales in its defense business and the costs associated with discontinued operations.

by Bhavesh Jinadra by CNB