Gateway Names Technology Industry Veteran, Dave Russell, to Board of Directors; Finalizes 2006 Fourth Quarter and Year-End Results
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IRVINE, Calif., Feb. 26  /PRNewswire-FirstCall/ -- Gateway, Inc.  today announced that Dave Russell, executive vice president and managing director of Avalon Energy, has joined Gateway's Board of Directors. With Russell's addition, Gateway has now expanded its Board to ten directors.
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Internet service provider Earthlink Inc. on Monday named the former leader of a voice and data services company known for his willingness to cut loose unprofitable projects as its new chief executive.
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By Womack, Brian  TECHNOLOGY  There's Word That Google Is Nearing Launch of dMarc Services; Broadcom's Quarter a Miss  Gateway Inc. could be headed for a tough report when it details the second quarter next month.
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(InfoWorld) - Acer's planned $710 million acquisitionÂ of U.S. PC vendor GatewayÂ won antitrust approval in the U.S. as the clock struck midnight Monday, Gateway said. The time marked the end of a 30-day waiting period in which the U.S. Federal Trade Commission or the Antitrust Division of the U.S. Department of Justice may intervene or request additional time to review the deal for possible antitrust violations. Not all transactions face antitrust scrutiny by the two U.S. agencies. Acer, of Hsichih, Taiwan, was forced to file with the agencies to notify them of its intention to buy Gateway and provide details of the proposed transaction due to the size of the deal. At the end of the day on Monday, the waiting period ended, Gateway said in a filing to the U.S. Securities and Exchange Commission. "The closing of the transaction remains subject to other customary conditions, including regulatory approvals in other jurisdictions which [Acer] anticipates will be satisfied over the next several weeks," Gateway said. Acer agreed to buy GatewayÂ in August. Once the acquisition closes, Acer will become the world's third largest PC vendor by shipments, at around 20 million desktops and laptops a year, and it will be transformed into a company with different PC brands. The boards of directors at both companies have already signed off on the agreement. Â
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(InfoWorld) - McAfeeÂ introduced its newest chief executiveÂ on Feb. 5 in its latest step to rebuild the firm's leadership ranks after aÂ 2006 stock options backdating probeÂ that led to the departure of several top officials. The security applications vendor named David DeWalt, 42, a former executive with storage giant EMC, as its latest president and CEO. DeWalt is the fourth individual appointed to the top job at McAfee in only the last six years. The new CEO steps into the role that was being occupied on an interim basis by McAfee board member Dale Fuller, who will step down from the job on April 1, 2007, but will retain his role as one of the firm's directors. DeWalt was also named to McAfee's board. Fuller, who had only joined McAfee's board in Jan. 2006, was called upon to steer the company when its president, Kevin Weiss, was fired in October 2006 after it was discovered that he had engaged in options backdating. The scandal -- through which executives illegally pre-dated their stock options to maximize personal gains -- also led to the resignation of longtime McAfee chairman and CEO George Samenuk. Charles Robel, the former COO at venture firm Hummer Winblad Venture Partners, signed on as Samenuk's replacement as McAfee chairman. DeWalt joins McAfee at a time when the company has reached a crossroads not only in terms of management, but also regarding its future. While the software vendor has long held a leading role in the desktop security market, trailing only Symantec in the massive antivirus segment, market forces have led company leaders to reshape the firm through a long series of mergers and acquisitions. Over the last several years in particular, McAfee has aggressively expanded its holdings in the market for compliance automation applications and services, which are used by businesses to stay in line with federal regulations, including the Sarbanes-Oxley Act. Perhaps taking aÂ page from Hewlett-Packard, which replaced colorful CEO Carly Fiorina with Mark Hurd -- a veteran of the stodgier data storage market at NCR -- McAfee clearly views DeWalt as someone who excels at management of both operations and business diversification. At EMC, DeWalt served as executive vice president and president of customer operations, including sales and services, and headed the company's software division, which the storage market leader has been pushing to grow aggressively. The executive came to EMC via its $1.7 billion buyout of Documentum in 2003, a deal which represented a strategic move by the firm to expand beyond its home turf in the storage space into the enterprise content management software arena. Immediately prior to the sale, as part of only a two-year tenure at Documentum, DeWalt is credited with leading the software company through 13 consecutive record quarters of financial performance, and he also worked previously at Oracle. "When I look at this company, I see no shortage of assets and a billion dollars in revenue as a pure play security vendor, which should give us a lot of potential opportunities," DeWalt said of McAfee "There's no debt, and the ledger is pretty positive. There were problems with the stock options, but the company has been getting stronger in a lot of intriguing areas such as compliance; we will be a top company worldwide when we come out at the other end." DeWalt specifically pointed to work done by CFO Eric Brown, who took on the additional responsibilities of COO in the wake of the stock scandal, as crucial to McAfee's recovery from the executive debacle.Â  The company said on March 2 that it plans to take an additional fourth-quarter stock options charge of roughly $1.8 million, lowering its net income by approximately $1.1 million, related to the backdating incident. The new CEO would not say whether or not McAfee will be more likely to become a buyer of smaller security companies or market itself as a potential acquisition to larger vendors but said that neither alternative is being ruled out. In the last year alone, a handful of security larger security technology makers have been swept up by larger infrastructure players, such as with IBM's acquisition of ISS for $1.3 billion. DeWalt's former employer EMC bought RSA Security for $2.1 billion in June 2006. While the executive said he was not planning to shop McAfee to potential buyers in his first days on the job, which officially begin on April 2, he said that the firm wouldn't rule out any possibilities until further exploring all of its options. DeWalt said he helped lead three different companies that have been acquired andÂ that he's completed nearly 50 similar transactions from the buyer side. "These are all possibilities, I'm no stranger to the consolidation game -- mergers and acquisitions are a way of life, and the security space is one of the last not to go through that type of change," said DeWalt. "We could be the consolidator, or some larger companies could look at us as a pure-play security provider that they need. It's a good position to be in." Industry watchers observed that DeWalt is taking over at a time when McAfee must make some tough decisions about its future. While rival Symantec moved heavily into storage technologies via its massive acquisition of Veritas in 2004, McAfee has yet to stake as serious a claim with its roadmap, said Andrew Jaquith, an analyst withÂ the Yankee Group. Pushing into the compliance sector is a good short-term bet for the firm, he said, but McAfee will need to define more far-ranging goals for where it aims to take its business tomorrow. "It all boils down to figuring out what McAfee wants to be when it grows up, even while it sharpens its existing message on anti-threat technologies," Jaquith said. "Symantec has clearly planted a flag in terms of becoming a broader systems management company; McAfee has stayed as more of a pure play -- they'll have to decide if they want to remain as a specialist, broaden through acquisitions, or become the security division of a bigger company." Jaquith, who said he isn't personally acquainted with DeWalt, indicated that the comparisons to HP's hiring of Hurd may be fair. He indicated that giving the impression of a more conservative leadership approach may have been part of the message the security company's directors wanted to send investors regarding the direction they would like to see the firm head in. If that is the case, said the analyst, it may have been a wise move considering the company's recent history of executive upheaval combined with ongoing shifts in the security market itself. "The hiring strikes as me as one way they may be looking to make security appear a little more boring, which is good, because boring means operations, and that's what customers are concerned about," Jaquith said.
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IRVINE, Calif., Oct. 26 /PRNewswire-FirstCall/ -- Broadcom Corporation today announced that its Board of Directors has named Scott A. McGregor as President and Chief Executive Officer, effective January 3, 2005.
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After a seven-month search, Gateway has a new CEO.
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InfoWorld - The new Gateway will launch a complete line of notebook PCs as one of many steps to revitalize its business afterÂ merging with Acer, an Acer executive said Friday.
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Gateway CEO Ed Coleman will resign from his position at the end of January, clearing the way for Acer&#39;s top executive in the Americas to take the helm, the Taiwanese company said Friday.Acer completed its US$170 million acquisition of Gateway in October. Coleman, who served as CEO of Gateway since 2006, oversaw the start of efforts to integrate the U.S. company with its new owner. However, the completion of those efforts will be the responsibility of Rudi Schmidleithner, head of Acer&#39;s Pan-America Organization, who will take charge of Gateway at the end of January.Acer announced Coleman&#39;s departure in a brief statement that thanked him for his contributions during the transition period that followed the acquisition announcement in August. The statement said Coleman made the decision to leave the company, but did not offer a specific reason.Gateway now&#160;operates as a subsidiary of Acer and maintains its own PC brand, which is well known in the U.S.
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IRVINE, Calif. - Shares in Gateway Inc., the third-largest personal computer maker in the United States, rose 5 percent in midday trading Friday, a day after the company named a new chief executive.  On Thursday, Gateway announced that J. Edward Coleman will become CEO starting Sept. 18.
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IRVINE, Calif., Feb. 27  /PRNewswire-FirstCall/ -- Gateway, Inc. today announced that Ed Coleman, CEO and John Goldsberry, senior vice president and CFO, will present an update on the company's progress and performance on Wednesday, Feb.
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(InfoWorld) - After a seven-month search, Gateway has a new CEO. J. Edward Coleman was named head of the third-largest U.S. PC vendor on Thursday. He replaces Rick Snyder, who had been serving as interim CEO since February, when former President and Chief Executive Officer (CEO) Wayne InouyeÂ left the company. Coleman, who starts his new job on September 18, previously was a top executive with Arrow Electronics Inc., an electronic components distributor. The new CEO will have his work cut out for him. Gateway has been struggling of late, posting losses over the past several quarters as it struggles to compete with its larger competitors, Dell Inc. and Hewlett-Packard Co. The 21-year-old companyÂ recently rejected a reported US$450 million buyout offer from Lap Shun "John" Hui, the founder of Gateway's eMachines line. Interim CEO Snyder remains chairman of Gateway's board of directors. Â
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Gateway Inc. on Wednesday raised fourth-quarter earnings expectations as the personal computer maker freed up cash by selling preferred stock and outsourcing its warranty service plans.
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NOVEMBER 05, 2004  - After helping Novell Inc. reinvigorate itself last year through the endorsement of Linux and the acquisition of vendor SUSE Linux AG, Vice Chairman Chris Stone has left the company.
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By Toni Coleman Contributing Writer  TROTWOOD -- It was a disappointing evening for former truck- driver-turned-businessman and computer refurbisher Al Russell, owner of Access Systems, a company in Trotwood that sells secondhand computers and parts.
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By The Associated Press  IRVINE, Calif. - Gateway Inc., the third-largest personal- computer company in the United States, said Friday it rejected an unsolicited $450 million bid for its retail business from eMachines Inc. founder Lap Shun Hui.  Gateway said the Aug.
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By Mary Ann Milbourn, The Orange County Register, Calif.  Dec. 7--Gateway Inc., the Irvine computer maker, announced today that it  won a $2.2 million contract to supply computers and support services to five  Illinois school districts.