Derek Ashley

NEW YORK—One of the most prominent players in the graphic arts business is looking into the possibility of selling off its struggling operation. New York-based Applied Graphics Technologies (AGT), on the heels of widening operating losses due to difficulties with integrating two of the company's recent acquisitions, has appointed a new CEO and engaged an investment banking firm to "explore strategic alternatives to enhance value for its shareholders, including the possible sale of the company," officials say. The new CEO is Derek Ashley, replacing Fred Drasner, who continues in his role as chairman and will serve as chairman of the executive committee of the board.