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3/21/2003
02:03 PM
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EDS Chief Calls It Quits

The head of beleaguered services firm EDS, Richard Brown, resigned March 20 and was replaced by Michael Jordan, the former chairman and CEO of CBS Corp. In a memo to employees, Brown said that his "guiding leadership principle has always been to do what I believed is right for EDS. Today, I believe that means transferring leadership to a new executive team." The changing of the guard isn't entirely a surprise, given EDS's poor financial performance last year and its stated expectations that 2003 will likely be worse. The firm has a significant presence in the troubled airline industry, several key clients have gone bankrupt, and its largest client, General Motors Corp., has cut spending. EDS alum Jeffrey Heller, who retired last year, returns to a role he held from 1996 to 2000 as president and chief operating officer.

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