Top officer of Apple gives up one post

Article Abstract:

Apple Chmn John Sculley relinquishes the role of CEO on Jun 18, 1993, in the wake of poor financial performance. Sculley will retain the position of chairman and will focus on the creation of new markets for Apple, centering around communications and entertainment. Sculley's departure was not unexpected given the emphasis he placed in 1992 on politics and distant projects rather than the details of the company and recent poor financial predictions. The forecast of low quarterly results sent Apple's share price down 19 percent, and it dropped a further 25 cents to $41 on news of Sculley's resignation. He will be replaced by Pres Michael Spindler, reputedly a no-nonsense executive, who has been credited with the company's turnaround since 1990.

Prepackaged software, AAPL, Layoffs, Layoff, Apple Inc., Executive, Stock, Sculley, John, Resignation, Chairmen, Spindler, Michael H.

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New president named for Hewlett-Packard

Article Abstract:

Hewlett-Packard Co (HP) appoints Lewis E. Platt to succeed John A. Young as president on Nov 1, 1992. Young has served as president and CEO at HP for the past 14 years. Platt, who has headed HP's computer systems organization, which accounts for 75 percent of HP's income, is seen as an exceptionally aggressive and capable executive. HP also announces that Dean O. Morton will retire as chief operating officer and will not be replaced. David Packard, who is 79, will continue as chairman. Two other HP executives will assume new responsibilities: Richard A. Hackborn, executive VP and head of computer products; and Willem P. Roelandts, VP and general manager of the networked systems group.

Computer peripheral equipment, not elsewhere classified, Electronic Components and Accessories, Hewlett-Packard Co., HWP, Electronics industry, Platt, Lew, Young, John A.

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