Wang Laboratories names chief executive

Article Abstract:

Richard W. Miller, who has not worked in the computer industry, will replace Frederick A. Wang as head of Wang Laboratories Inc. The beleaguered computer manufacturer is attempting to overcome a $424.3 million loss for the 1989 fiscal year. Frederick Wang resigned as president and CEO soon after the loss was reported. Wang Labs founder An Wang personally Chose Miller to succeed Fred Wang. Miller had worked for RCA Corp as chief financial officer; and as head of consumer products and entertainment; and finally, as head of General Electric's $3.3 billion electronics division, after GE acquired RCA. When the subsidiary was sold in 1987, Miller joined American Industrial Partners. Miller does not see his lack of computer experience as a handicap because he has been involved in consumer electronics. He sees his initial challenge at Wang as one of cost reduction.

Computer industry, Chief executive officers, Cost control, column, Cost Reduction, New Appointment, Miller, Richard W. (American executive)

---

Microsoft president is dismissed

Article Abstract:

Microsoft Corp's chairman William H. Gates is replacing company president Michael R. Hallman with a three-member office in a reorganization plan. Gates has decided to hire from within the company instead of looking for a suitable replacement from outside companies as he has done in the past. The three men assuming the title of president are Michael J. Maples, Steven A. Ballmer and Francis J. Gaudette. The company is also restructuring its development organizations into five product divisions, including systems, desktop applications, database and development tools, consumer and work groups. Several leading Microsoft executives have left the company in recent times due to illness, retirement or dismissal.

Prepackaged software, Computer integrated systems design, Computer software industry, Software industry, Cases, Microsoft Corp., Human resource management, Ballmer, Steve, Gates, Bill, MSFT, Executive, Personnel Management, Firings, Reorganization, Hallman, Michael H., Maples, Michael J., Gaudette, Francis J.

---

President resigns at Wang; act by founder's son stirs rumors of sale of ailing company

Article Abstract:

Frederick A. Wang, president of Wang Laboratories Inc resigned Aug 8, 1989, leaving rumors that the floundering company will be sold. Dr. An Wang, founder of the company, and Frederick Wang's father, will take charge of the company again. The minicomputer manufacturer has suffered as industry growth has leaned towards microcomputers and workstations, reporting a $424 million loss for fiscal 1989. Harry H.S. Chou, vice-chairman and a director of the company, has been appointed acting president. The stock market reacted to the resignation news with Wang stock rising 87.5 cents, to $6.625 in heavy trading on the American Stock Exchange.

Minicomputers, Stock markets, Workstations, Microcomputer, Minicomputer, Stock Market, Losses, Resignation

Similar abstracts:

• Abstracts: Scotiabank shakes up executive ranks. Alliance Atlantis president departs. Lions Gate loses senior executive
• Abstracts: Doman reaches new deals with unsecured creditors: Founder to retain token stake in firm. VisuaLabs scientist alleged to have tricked shareholders
• Abstracts: GM board shuffles duties, executives. Smith: GM puts no price tag on market share. Business travelers keep their feet on the ground
• Abstracts: Back to the front. A president faces the test of a lifetime. A president finds his true voice
• Abstracts: Global recovery flows on capital tide. Seasonal adjustments. Bangalore or bust

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.