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Gateway CEO Inouye Steps Down

Gateway said Thursday that chief executive Wayne Inouye has stepped down in favor of former Gateway president Rick Snyder, effective immediately. Inouye resigned his post to pursue other interests, the computer maker said. Snyder will occupy the post of chief executive and chief operating offier on an interim basis while the company searches for a replacement, while Inouye will act in an advisory capacity.

"On behalf of the board, I want to thank Wayne for his efforts during thepast two years to stabilize and build the company," Snyder said in a statement. "Thanks to the efforts of the management team and employees, Gateway last year posted its first GAAP profit since 2000, and recognized a $643 million improvement in operating income from 2004, while experiencing an increase in brand awareness and continued positive reception for its products and services from customers and trade press alike," Snyder added.

News source: pcmag.com

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