Apple names technology chief and puzzles many

Article Abstract:

Apple CEO Gilbert Amelio's appointment of Ellen Hancock, a veteran IBM and National Semiconductor executive, as chief technology officer baffles industry analysts who indicate Hancock may not have been the best choice. Apple's CTO must resurrect the Macintosh product line, develop new products and support existing products. Hancock has no experience in developing innovative and successful products yet those tasks are vitally important to the company. Also, Hancock may have difficulty managing Apple's young hardware and software developers. Analysts further question whether Hancock can adapt to the frantic and fiercely competitive pace of the computer industry. Hancock insists her ability to manage large software projects, programming expertise and industry knowledge will help Apple reclaim market share and profitability.

Microcomputers, Hancock, Ellen M., Company Employee Status Change

---

Gerstner agrees to be chief of I.B.M. until at least 2002

Article Abstract:

IBM confirmed that CEO Louis V. Gerstner Jr. has extended his contract until at least Mar 2002. The world's largest computer company in return will compensate Gerstner with a compensation package that includes two million stock options. An IBM spokesman said the 55-year-old Gerstner, who joined IBM in 1993, needs several more years to complete his turnaround work. Gerstner reversed IBM's nearly $16 billion in losses by cutting more than 35,000 and boosting its stock price fivefold. He also has emphasized customers and strived to position IBM as a one-stop for all their computer needs. Computer services has emerged as the fastest-growing IBM business, but the company's revenue increase trails that of the remainder of the computer, software and computer-services industries.

International Business Machines Corp., IBM, Gerstner, Louis V., Jr., Company executive, Computer executives

---

For Apple, a new link to America Online; beleaguered computer maker also names chief financial officer

Article Abstract:

Apple announces that it will include access to America Online (AOL), the world's largest online information service, on all forthcoming US and European consumer computers. Apple will discontinue its eWorld online service on Mar 31, 1996, and Apple intends to work in conjunction with AOL to develop content for the online service. Also, Apple announces the selection of Fred Anderson to serve as chief financial officer. The former Automatic Data Processing CFO possesses extensive experience in guiding corporations through difficult financial turnarounds. Apple executives will rely on Anderson to help repair the company's costly inability to forecast demand and accurately gauge inventory control.

America Online Inc., Contracts, Employee selection, Hiring, Company Employee, AMER

Similar abstracts:

• Abstracts: AT&T plan links Internet and satellites: 12-space craft system proposed to regulators
• Abstracts: Compaq plans a big change in its PC sales; made-to-order machine is expected to cut costs
• Abstracts: Asset impairment - FASB gets it right. New accounting principles for stock-based compensation. GASB-FASB round table
• Abstracts: Hyperion on Web value: finance and accounting leverage the Internet
• Abstracts: Coal/alternate energy industry. part 3

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