ADP's Koehrer Will Step Down; Hogan To Fill Post

VENDOR STRATEGIES

Ralph Koehrer, president of ADP's Information and Processing Services division (IPS), is stepping down at the end of the month. His position will be filled by John Hogan, chief operating of ADP's Investor Communications Services division.

The announcement of Koehrer's departure comes less than a year after the news that Merrill Lynch had decided not to renew its quote contract with ADP once it expired in November 1996 (IMD, Sept. 25, 1995). ADP walked away from the Merrill contract and its 25