Re: FW: Amelio resigned - details

Wendy J. Mattson (
Wed, 9 Jul 97 13:59:13 -0700

SJ Mercury report:
Apple says Gil Amelio resigns

Published: July 9, 1997 1:45 p.m

In a press release, Apple Computer 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.

Ellen Hancock, executive vice president of technology, also
apparently is leaving the Cupertino-based computer firm.

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:

Fred Anderson - executive vice president and chief financial officer

Guerrino De Luca - executive vice president, Marketing

Dave Manovich - executive vice president, Worldwide Sales and Service

Jack Douglas - senior vice president, General Counsel and Secretary

Jim McCluney - senior vice president, Operations

Jon Rubinstein - senior vice president, Hardware Engineering

Avie Tevanian - senior vice president, Software Engineering

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

"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.