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CHANGING OF THE GUARD

Postal Promotions Ltd. of Toronto is under new ownership. The lettershop and data processing company is now in the hands of a five-member senior management team which has been operating the company for over two years. The new owners are president and CEO Joseph Halloran, operations vice-president Michael Price, sales and marketing vice-president Frank Mangialardi, information services vice-president Simon Leung and finance vice-president Italo Cerra. Chairman Ted Heather will still be involved in the company after selling it to his managers. "I'm having too much fun to want to retire," he says in a release.

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