Hall was a Hughes executive for 28 years, the last eight as president and COO. EnfoTrust Networks is an information management and storage company. In a prepared statement, David Hughes, chairman/CEO of publicly traded Hughes Supply, says he picked Morgan for his distribution and technology background.
Hughes posted a profit of $46.5 million or $1.97 per share in fiscal 2000 but showed a fourth-quarter loss of $9.1 million or 39 cents a diluted share. It was the company's first quarterly loss in 10 years.
Hughes' common is trading at $13.60 per share on the New York Stock Exchange. The stock's 52-week high-low is $21.40 and $13.69.
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