Apple Board Announces the Resignation of Chairman and CEO Gil Amelio
Cupertino, Calif.--July 9, 1997--Apple today announced that Dr. Gilbert F. Amelio, after consultation with Apple's board of directors, has resigned his positions as chairman of the board and chief executive officer, and that the Company is initiating a search for a new CEO.
Until a new CEO is hired, Fred Anderson, executive vice president and chief financial officer, will assume additional responsibilities for the Company's day-to-day operations, working closely with the board and the executive management team, which includes:
During the interim period, Apple's co-founder and strategic advisor Steve Jobs will assume an expanded role as a key advisor to Apple's board and executive management team.
Heading the search for a new CEO will be a committee composed of Board Vice Chairman A.C. Markkula Jr., Apple Board Director and Chairman of the Board of E.I. du Pont de Nemours and Co. Edgar S. Woolard Jr., Executive Vice President and Chief Financial Officer Fred Anderson, and Apple's strategic advisor Steve Jobs.
"In recent months, Apple has made significant progress in addressing the crises which were threatening its viability," said Woolard. "In pursuit of the best interest of our shareholders and our customers, we now want to move forward and return the Company to growth and sustainable profitability. We believe that with a customer focused CEO and Apple's product and technology portfolio, the Company will have the necessary ingredients to return to success."
"The Company has improved its cash position, reduced operating expenses and improved product quality" said Anderson. "We have also introduced a series of outstanding products, developed a long-term operating system strategy and consolidated our marketing and sales organizations. The executive management team is committed to continue to build on this foundation".
Ellen Hancock, executive vice president of Technology, has also announced that she will be leaving the Company. Her responsibilities have been reassigned to Avie Tevanian and Jon Rubinstein.
Apple will announce its third fiscal quarter results on Wednesday July 16, 1997.
Apple Computer, Inc., a recognized innovator in the information industry and leader in multimedia technologies, creates powerful solutions based on easy-to-use personal computers, servers, peripherals, software, handheld computers and Internet content. Headquartered in Cupertino, California, Apple develops, manufactures, licenses and markets solutions, products, technologies and services for business, education, consumer, entertainment, scientific and engineering and government customers in more than 140 countries.
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