BTI’s Schumacher steps down from post

The chief executive of San Diego-based magnetic source imaging developer Biomagnetic Technologies stepped down last month. James Schumacher, a GE Medical Systems veteran who led BTI since 1993, will be replaced as president and CEO by Scott Buchanan. Schumacher remains on BTI's board, while the company's office of chairman will remain vacant.

The move was part of BTI's effort to cut costs by reducing management overhead, Schumacher said. BTI implemented a restructuring earlier this year after a delay in shipments of its Magnes 2500 Whole Head system resulted in a revenue shortfall (SCAN 2/5/97).