Micrografx Inc. taps Tucker to engineer turnaround; software developer hopes chicken expert can lead its marketing push
Article Abstract:
Micrografx Inc, following the footsteps of a number of high-tech companies, hires a non-technical executive to become its new CEO and president. Gordon M. Tucker, formerly a vice president of world-wide strategic development for PepsiCo's KFC fried chicken unit, has been chosen to head the ailing software company, ending an arduous 10 month executive search. Tucker will be responsible for helping the company revamp its product development efforts to emphasize not only the technical aspect, but also marketing, financing and sales. Micrografx is the first company that developed applications that run on the Microsoft Windows operating environment. Of late, the company has suffered from the breakup of its two founding brothers, and fraud at its Japanese unit. Micrografx lost $2.8 million or 34 cents a share for the fiscal year ending Mar 1993, compared to $5.1 million or 61 cents per share of profit the year earlier.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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Technology group creates venture firm
Article Abstract:
Microelectronics & Computer Technology Corp (MCC) invests in a start-up venture capital firm, MCC Ventures Inc, and will hold a majority share of the for-profit company. MCC was founded in the early 1980's and is a consortium of several companies cooperating to duplicate Japan's success in corporate industrial research and development. Over time, MCC has developed a negative image of spending a high amount of effort and money on projects that had little general interest. With the founding of MCC Ventures Inc, MCC seeks to change its image. The start-up will work to retain scientists and encourage them to stay with the consortium, rather than start their own companies after developing a new technology. Member companies will have the right to examine new technologies first and employees will be able to invest in the technologies they are working to develop.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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EDS chairman sold stock last month even as parent was seeking partners
Article Abstract:
Electronic Data Systems Corp (EDS) Chmn and CEO Lester M. Alberthal, Jr. sold 40 percent of his General Motors Corp stock connected to the company's computer services unit in May 1993. At the same time, the auto company was talking with telecommunications companies about possible partnerships, or even an ownership stake in EDS. SEC records show that Alberthal sold 80,000 shares of GM Class E stock on May 25 for about $2.5 million. A spokesman for Alberthal says the stock sale was for personal financial reasons and should not be interpreted as significant of doubt about EDS's future performance. The sale leaves Alberthal with 120,000 shares of Class E stock.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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