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Gateway Shakes Up Management Team

Back in the role of CEO only one day, Gateway Inc. co-founder and chairman Ted Waitt ousted CFO John Todd, chief technology officer Peter Ashkin, and other key execs as part of a management shakeup for a company facing a slowing market for PCs.

Joe Burke, senior VP of business development, will take over as CFO, and former consumer sales president Bart Brown will replace Cliff Holtz as senior VP for the consumer division. Gateway says Holtz and Todd left the company to pursue other interests. Vice chairman David Robino, executive VP Todd Bradley, and senior VP of operations Jack Dollard also left the company. David Russell was promoted from VP of supplier management to senior VP of supply-chain management. Remaining execs include senior VP Sue Parks, global manufacturing senior VP Mike Hammond, general counsel and senior VP William Elliot, CIO James Pollard, and human-resources VP John Renfro.

On Monday, Waitt had unexpectedly returned to the role of CEO, after Gateway said Jeffrey Weitzen, 44, who had been named CEO only 13 months ago, was taking early retirement.

Earlier this month, Gateway missed already-lowered expectations for its fourth quarter, thanks to slumping sales in hardware. It also eliminated 3,000 jobs.

Says Brooks Gray, a Technology Business Research analyst, "I'm not sure it was necessary to switch Weitzen, but Wall Street will have much more confidence with Waitt in charge."

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