Gateway Inc. Names New CEO
Former CEO To Stay With Company
On Thursday, Gateway Inc. named J. Edward Coleman CEO of the company. Coleman is a 30-year technology industry veteran. Gateway hopes he can help lead them back to computer sales prominence, after computer makers Dell and HP took a big chunk of the market share.
Former Chief Executive Rick Snyder will step down as CEO, but will be retained as chairman of Gateway's board of directors, the company said. Coleman, who will start his new job on September 18, joined Gateway after leaving Arrow Electronic and is the former CEO and chairman of CompuCom, the company said.
Recently, Gateway has cut jobs to help ease the tension on their falling marketing share. Dell and HP have taken the two top American market shares; Gateway has fallen to third in U.S personal computer makers.
A number of things have caused the decline in Gateway's market share, including former CEO Wayne Inouye stepping down in February, after an only 2 year stay. A declining share price and Gateway's struggles with financial losses have also hindered the company's growth.
However, the company's retail sales show promise. There was a 21 percent growth in the quarter that ended June 30 due to the company's popular, yet cheap, eMachines that are sold at Best Buy and Fry's Electronic.
"Joining Gateway at this critical juncture in its storied 21-year history is a tremendous opportunity," said Coleman in the company's news release. "Gateway is one of the most recognizable brands in technology. I look forward to working with Gateway's employees and stakeholders to meet the challenges ahead and position the company to better capitalize on its strengths."
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