Apple names technology chief and puzzles many
Article Abstract:
Apple CEO Gilbert Amelio's appointment of Ellen Hancock, a veteran IBM and National Semiconductor executive, as chief technology officer baffles industry analysts who indicate Hancock may not have been the best choice. Apple's CTO must resurrect the Macintosh product line, develop new products and support existing products. Hancock has no experience in developing innovative and successful products yet those tasks are vitally important to the company. Also, Hancock may have difficulty managing Apple's young hardware and software developers. Analysts further question whether Hancock can adapt to the frantic and fiercely competitive pace of the computer industry. Hancock insists her ability to manage large software projects, programming expertise and industry knowledge will help Apple reclaim market share and profitability.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Gerstner agrees to be chief of I.B.M. until at least 2002
Article Abstract:
IBM confirmed that CEO Louis V. Gerstner Jr. has extended his contract until at least Mar 2002. The world's largest computer company in return will compensate Gerstner with a compensation package that includes two million stock options. An IBM spokesman said the 55-year-old Gerstner, who joined IBM in 1993, needs several more years to complete his turnaround work. Gerstner reversed IBM's nearly $16 billion in losses by cutting more than 35,000 and boosting its stock price fivefold. He also has emphasized customers and strived to position IBM as a one-stop for all their computer needs. Computer services has emerged as the fastest-growing IBM business, but the company's revenue increase trails that of the remainder of the computer, software and computer-services industries.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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For Apple, a new link to America Online; beleaguered computer maker also names chief financial officer
Article Abstract:
Apple announces that it will include access to America Online (AOL), the world's largest online information service, on all forthcoming US and European consumer computers. Apple will discontinue its eWorld online service on Mar 31, 1996, and Apple intends to work in conjunction with AOL to develop content for the online service. Also, Apple announces the selection of Fred Anderson to serve as chief financial officer. The former Automatic Data Processing CFO possesses extensive experience in guiding corporations through difficult financial turnarounds. Apple executives will rely on Anderson to help repair the company's costly inability to forecast demand and accurately gauge inventory control.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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