DALLAS - Ross Perot, the billionaire and former presidential candidate, stepped down Tuesday as chief executive of Perot Systems Corp. and handed over the top position to his son.
Ross Perot Jr. will become president and chief executive of the Dallas-based computer services company, while the 70-year-old Perot will remain as chairman, the company said in a news release.
Spokeswoman Kim Testa said Perot ''had indicated he would stay for a time as CEO, and when he felt the company was well-positioned for the future, he would choose a president and CEO to take over.''
Testa said health was not a factor in the decision.
The younger Perot, 41, has been a company director since 1988 but is better known in Texas as a land developer. He has been working with the company's European operations since December.
Perot ran for president in 1992 as an independent favoring campaign reform and fiscal discipline. He drew 19 percent of the vote, which was widely viewed as helping Bill Clinton defeat President Bush.
Perot went on to create the Reform Party and ran again as its presidential candidate in 1996, but he drew less than 10 percent of the vote. Perot rarely appeared in public and refused to discuss politics this year as the party descended into chaos and split in two.