Gateway CEO resigns, future uncertain
Gateway CEO Wayne Inouye, of former eMachines fame has announced his departure from the company. In the two short years since Gateway acquired eMachines and made Inouye the company CEO he completely turned around the company and for the first time since 2000, helped Gateway post profits. Inouye also helped improve customer service enough to top Dell and others in PCWorld’s annual Reliability and Service rankings (for eMachines branded computers at any rate). It is likely because of how well the company is doing now that many were surprised at the announcement. News of the resignation did not sit well with investors and the company stock took a dive of several percentage points. At the time of writing, Gateway stock sits at $2.45, a loss of 2.4% (6 cents) since yesterday.
The Board has begun a search for a permanent replacement CEO and expects
to complete the search by late summer. While in his interim role, Mr. Snyder
will step down temporarily from his positions as chairman of the Corporate
Governance & Nominating Committee and member of the Audit Committee but will
remain Chairman of the Board. In the interim, Board member Janet Clarke will
become chair of the Corporate Governance and Nominating Committee and Board
member George Krauss will join the Audit Committee.
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