Unisys appoints former executive at Andersen Worldwide as its chairman
Article Abstract:
Unisys said it has selected retired Andersen Worldwide CEO Lawrence A. Weinbach as its chmn, pres and CEO. Weinbach, who succeeds James A. Unruh, has drawn praise for transforming the Arthur Andersen accounting firm into a modern consulting firm. Unisys is a computer manufacturer saddled with a $2.3 billion debt and shareholder complaints about its weak stock performance. The company's problems stem from former leader W. Michael Blumenthal's strategy of competing with IBM in the late 1980s mainframe computer market. PCs gained popularity at that time, and Unisys lost $639 million in 1989. Weinbach said he aimed to reduce Unisys' debt by $1 billion in the next few years. Andersen Worldwide revenues quadrupled to $11 billion under Weinbach's leadership. Unruh, who has relinquished the CEO and chmn positions, improved Unisys' presence in high-technology consulting and maintenance. Unisys reported $6.37 billion in 1996 sales
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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Digital commerce; Apple's executive MacMath: the greater the loss, the greater the salary
Article Abstract:
Apple has made a habit of rewarding its CEOs for failing. John Sculley, who was ousted in 1994, received a severance package worth $3 million. Apple paid Michael Spindler between $3 million and $4 million to leave the company, as well as the expense of moving him to France, and he presided over one of the steepest declines of the company. Gilbert Amelio's severance package will be the largest yet. He is to receive $7 million and approximately $26 million in stock options. Industry analyst also wonder about Apple's decision to purchase Steve Jobs' unsuccessful company, Next Software. Job received over $400 million for the company as well as $1.5 million in stock options. He now is on search committee to find a new CEO for Apple, despite the fact that he recently sold all of his stock in the company.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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Apple getting reactions on the Web
Article Abstract:
Apple's board has forced the company's CEO, Gilbert Amelio, to resign. Amelio is the third CEO that Apple has lost since 1994. News of the resignation has caused many Apple customers' spirits to be dampened, but a continual optimism and loyalty is reflected in the comments found on Web sites. The Macintosh software developer, Ambrosia Software's Web page, Ambrosia Cafe asked individuals to share their thoughts on the board's ousting Amelio. Comments included ideas for a new CEO and complaints about the board. The popular rumor amongst Macintosh users is that Steve Jobs, a co-founder of Apple, may become the next CEO, despite his insistence that that is not his intention.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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