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Gateway brings founder back to the fold

Troubled computer manufacturer Gateway is bringing back founder and chairman Ted Waitt to turn the company's fortunes around.

By Sally Watson

Published: 30 January 2001 11:36 GMT

Waitt will take over as chief executive from Jeff Weitzen who is retiring after 13 months in the job.

Gateway has been hit particularly hard by the global slowdown in PC sales, recently announcing it will have to lay off 10 per cent of its workforce after missing fourth quarter targets.

In a statement, Waitt said: "I love Gateway, and I'm going to do everything in my power to make sure the company can grow and prosper in this challenging environment."

Outgoing CEO Weitzen said he was proud of the work he had done at Gateway over the last three years, but is now looking forward to spending more time with his wife and family.

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