SMYRNA, Ga. -- James M. Ikerd, senior vice president and director of operations for Paragon Mortgage Corp., has been named interim president while the company's board undertakes a search for a new president.

M. Leon Jensen, chairman, said a search committee had been named and the committee expects to finish its work soon.

Mr. Jensen said he would continue as chairman until the annual meeting on Aug. 10.

When a new president is named, he will return to his primary business as president and chief of Human Assets South Inc., Atlanta, a consulting firm.

Mr. Ikerd replaced Bruce R. Diaddigo, who announced his resignation May 23. The resignation became effective June 10.

Under Pressure

That resignation was apparently aimed at defusing a threat by a group of shareholders to seek a special meeting for the election of new directors.

Paragon has been under pressure from shareholders to beef up its management after the departure of Gene Ross, who had headed the company, and his brother, Lynn Ross, who also held a top post.

The Rosses resigned after a dispute with Paragon over charges of misdirection of funds.

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