Telecredit President Louis Buglioli Resigns

Telecredit Inc., Los Angeles, announced the resignation of Louis P. Buglioli Jr., 35, who had served as president and chief operating officer since September, 1983.

The company, which provides computerized check-verification and credit-card transaction services, did not give a reason for Buglioli’s resignation. Chairman and Chief Executive Lee A. Ault III, reached at Telecredit’s facility in Tampa, Fla., declined comment except to say that “relationships are very positive, very open” between the company and Buglioli.

Ault, 48, will temporarily assume Buglioli’s duties.

The company also announced the formation of an executive committee--comprising Ault, Arthur Jacobsen, chairman of the audit committee, and Joseph DeLuna, chairman of Telecredit’s Light Signatures subsidiary--to study the “long-range planning and organizational structure of the company.” Ault said the move is not connected to Buglioli’s resignation but reflects recent changes within the company, including its acquisition in January of Light Signatures, which produces an anti-counterfeiting system.