Exec shuffle may not prevent Gateway crash
Article Abstract:
Struggling PC maker Gateway Computer Systems has reappointed Chmn Ted Waitt as CEO, succeeding Jeffrey Weitzen, who some say was forced to resign from the company. However, some analysts say Waitt's comeback may not be enought to solve Gateway's problems. Gateway also announced that six other top executives, including CFO John Todd, would also be leaving the company. Todd would be replaced by Joe Burke, a former executive at Blockbuster Entertainment and PricewaterhouseCoopers.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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Struggling Gateway's recovery lies in Waitt
Article Abstract:
Gateway founder Ted Waitt is being hailed as the only person that could save the struggling PC maker, which lost $128 million in 4th qtr 2000, and would not turn a profit until 2002. Company employees believe that Waitt will lead to a turnaround at Gateway, comparing his return to that of Steve Jobs, who resurrected Apple. After dropping out of college, Waitt founded Gateway in a farmhouse owned by his father, with a loan of $10,000.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
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