IRVINE, Calif., Sept. 7 /PRNewswire-FirstCall/ -- The Gateway, Inc.
(NYSE: GTW) Board of Directors today announced the appointment of J. Edward
Coleman, 54, as chief executive officer. Coleman replaces Rick Snyder, who
has served as interim CEO since February and will remain Chairman of
Gateway's Board of Directors.
(Photo: http://www.newscom.com/cgi-bin/prnh/20060907/LATH092 )
A 30-year veteran of the technology industry, Coleman's broad-based
experience includes sales and marketing, operations, IT services and
finance roles with some of the world's most successful technology
companies. He has a proven record of helping companies to identify new
growth opportunities and the strategies needed to capture this growth. As
CEO and Chairman of CompuCom, Coleman successfully transformed the
company's model to a services-led business from its PC reseller legacy, an
achievement that led to Coleman being named one of Computer Reseller News'
"Top 25 Executives" in 2003 and the recipient of the VARBusiness 500
"Lifetime Achievement Award" in 2004.
"On behalf of the Board, we are extremely pleased to have a proven
leader with strong experience in leading and transforming a public company
in the IT industry," Snyder said. "In recent months we've made great
strides to stabilize our overall business. Under Ed's leadership, we expect
to accelerate the development and execution of the strategic plans for our
Professional and Direct businesses, while at the same time continuing to
grow our successful Retail and International operations."
"Joining Gateway at this critical juncture in its storied 21-year
history is a tremendous opportunity," said Coleman. "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."
Coleman joins Gateway from Arrow Electronics, Inc., a major global
provider of products, services and solutions to industrial and commercial
users of electronic components and computer products, where he served as
senior vice president and president, Arrow Enterprise Computing Solutions.
Previously, he led CompuCom Systems, Inc., a $1.4 billion IT services and
solutions provider headquartered in Dallas, Texas, serving as CEO from
December 1999 until November 2004 and as Chairman from 2001 to 2004. Prior
to joining CompuCom, Coleman served in various leadership roles at Computer
Sciences Corporation, where he was instrumental in growing the IT
outsourcing business and integrating the company's outsourcing, systems
integration and management consulting capabilities. Coleman spent 17 years
at IBM in various executive positions, including head of IBM Credit's used
equipment and channel financing businesses, and led New Jersey-based
integrator MTS from 1993 to 1995. He earned a bachelor's degree in
economics from the College of William and Mary, and holds a master's degree
in business administration/marketing from Indiana University.
As Chairman, Snyder will work closely with Coleman and the leadership
team to ensure a smooth transition. Coleman will assume his new role on
September 18 and join Gateway's Board of Directors.
About Gateway
Since its founding in 1985, Irvine, Calif.-based Gateway (NYSE: GTW)
has been offering award-winning PCs and related products to consumers,
businesses, government agencies and schools with highest quality and
service and best overall value. Gateway is now the third largest PC company
in the U.S. and among the top ten worldwide. The company's value-based
eMachines brand is sold exclusively by leading retailers worldwide, while
the premium Gateway line is available at major retailers, over the web and
phone, and through its direct and indirect sales force. See
http://www.gateway.com for more information.
Special note
This press release contains forward-looking statements that involve
risks and uncertainties, as well as assumptions that, if they do not
materialize or prove incorrect, could cause Gateway's results to differ
materially from those expressed or implied by such forward-looking
statements. All statements, other than statements of historical fact, are
statements that could be forward-looking statements, including any
projections or preliminary estimates of earnings, revenues, or other
financial items; any statements of plans, strategies and objectives of
management for future operations; the extent of seasonal changes in demand;
any statements regarding proposed new products, services or developments;
any statements regarding future economic conditions or performance;
statements of belief and any statement of assumptions underlying any of the
foregoing. The risks that contribute to the uncertain nature of these
statements include, among others, risks related to shifting our
distribution model to third-party retail; competitive factors and pricing
pressures, including the impact of aggressive pricing cuts by larger
competitors; general conditions in the personal computing industry,
including changes in overall demand and average selling prices, shifts from
desktops to mobile computing products and information appliances and the
impact of new microprocessors and operating software; the ability to
simplify the company's business, change its distribution model and
restructure its operations and cost structure; component supply shortages;
short product cycles; the ability to access new technology; infrastructure
requirements; risks of international business; foreign currency
fluctuations; risks relating to new or acquired businesses, joint ventures
and strategic alliances; risks related to financing customer orders;
changes in accounting rules; the impact of litigation and government
regulation generally; inventory risks due to shifts in market demand; the
impact of employee reductions and management changes and additions; and
general economic conditions, and other risks described from time to time in
Gateway's Securities and Exchange Commission periodic reports and filings.
Gateway assumes no obligation to update any forward-looking statements to
reflect events that occur or circumstances that exist after the date on
which they were made.
ADDENDUM: Biography
J. Edward Coleman, Gateway, Inc. Chief Executive Officer
J. Edward Coleman, 54, is chief executive officer of Gateway, Inc. A
30-year veteran of the computer industry, he is a proven leader with a
broad-based background that includes a variety of sales and marketing,
operations, IT services and finance roles with some of the world's most
successful technology companies.
Before joining Gateway in September 2006, he served as senior vice
president and president, Enterprise Computing Solutions for Arrow
Electronics, Inc., a major global provider of products, services and
solutions to industrial and commercial users of electronic components and
computer products.
Previously, Coleman was chairman, president and CEO of CompuCom
Systems, Inc., a $1.4 billion IT services and solutions provider
headquartered in Dallas, Texas. He led CompuCom as CEO from December 1999
until November 2004 and as Chairman from 2001 to 2004. Prior to joining
CompuCom, Coleman served in various leadership roles at Computer Sciences
Corporation, IBM and New Jersey-based integrator MTS.
Coleman has been recognized in the industry for his achievements at
CompuCom in successfully transforming its business model to a services-led
business from its PC reseller legacy. In 2003, Coleman was named one of
Computer Reseller News' "Top 25 Executives". He was also the recipient of
the 2004 VARBusiness 500 "Lifetime Achievement Award."
He earned a bachelor's degree in economics from the College of William
and Mary, and holds a master's degree in business administration/marketing
from Indiana University.
Coleman serves on the Board of Advisors of the College of William and
Mary School of Business, and is a member of the Board of Directors of Red
Oak Software.
SOURCE Gateway, Inc.
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Related links:
http://www.gateway.com/
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20060907/LATH092
AP PhotoExpress Network: PRN8 PRN Photo Desk,
photodesk@prnewswire.com
CONTACT:
Media, David Hallisey, +1-949-471-7703,
david.hallisey@gateway.com, or Investors, Marlys Johnson,
+1-605-232-2709, marlys.johnson@gateway.com, both of Gateway,
Inc.; or Joele Frank or Barrett Golden, both of Joele Frank,
Wilkinson Brimmer Katcher, +1-212-355-4449, for Gateway, Inc.
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