Chief of Prodigy Services is planning to step down
Article Abstract:
Ross Glatzer, president and CEO of Prodigy Services Co, is announcing his retirement from the computer online information services provider, the second of two senior executives to leave the company in two months. Prodigy, jointly owned by Sears, Roebuck & Co and IBM, will replace Glatzer with a former Viacom Inc official, Edward A. Bennett. The departure of Glatzer, who had been with Prodigy since 1986, follows on the heels of Scott Kurnit's resignation, the former executive vice president and second-in-command. The shakeup comes just as Prodigy announced its first profitable quarter after 10 years of operation and as the online services market is set to become more competitive. Glatzer says he wants to spend more time with his family, but company officials anonymously suggested he may have left as a result of the management shakeout and rumors the IBM and Sears may sell the service or look for additional partners.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1995
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Steven Jobs said to be planning return to Apple
Article Abstract:
Steven Jobs, co-founder of Apple and founder of Next Inc, will return to Apple as a consultant, according to an executive close to Apple. Jobs left Apple in 1985 when he lost a power struggle with John Sculley, whom Jobs had hired to manage the company. Jobs then founded Next, a workstation manufacturer. When Next's hardware failed to sell, Jobs shifted the company's focus to software. Apple will purchase Next and will use its Open Step OS. Although Open Step has not found a large market, it offers Apple the multitasking and object-oriented technology it now lacks. Apple had been negotiating with Be, founded by former Apple VP Jean-Louis Gassee, for their OS. Apple apparently refused to pay the $300 million Gassee requested for his company. Apple's shares rose 5.6% on Dec 20, 1996 in response to the rumor of Jobs' return.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Silicon Graphics will look for new chief
Article Abstract:
Silicon Graphics said that Chmn and CEO Edward R. McCracken would relinquish his CEO position as soon as a successor could be found. The workstation and server manufacturer also said it would reduce operating costs by eliminating 700 to 1,000 jobs worldwide. Silicon Graphics recently surprised analysts by announcing that its quarterly loss increased to $55.7 million, or 31 cents a share, in the 1st qtr 1998, ended Sep 30, 1997. By comparison, the 1st qtr 1997 losses totaled $21.6 million, or 13 cents a share. Silicon Graphics reported record revenues and earnings in the 4th qtr 1997, which far surpassed analyst estimates. It marked the first time in eight quarters that the company met analyst estimates. Silicon Graphics now must hire a new CEO, new CFO and a new head of marketing before restoring investor confidence.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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