Gateway puts interim director team in place

 

Two of Gateway's most senior Irish-based directors have left the company in a surprise move which has forced the computer maker to appoint an interim management team.

The departures are a further blow for the firm which recently issued a profit warning sending its share price to 12-month lows. Gateway employs more than 1,700 people in the Republic.

Last night a Gateway spokeswoman confirmed the departure of the two men but would not comment on the circumstances of their departure.

It is understood Mr Mike Swalwell, senior vice president of Europe Middle-East and Africa, has resigned from the company and Mr John Conway, director of finance, has announced his retirement.

Mr Swalwell joined Gateway in February 1999 as managing director for UK and Ireland. He added responsibility for Gateway's European business in May 1999 based in Gateway's European headquarters in Dublin.

Mr Swalwell oversaw the recent division of Gateway's Europe, Middle East and Asia operation into distinctive consumer and business segments.

A spokeswoman said Mr Swalwell's resignation was effective immediately. She said Mr Jonathan Andrew would act as vice-president of UK and Ireland while Mr Chris Ohlund would take the role of vice-president of continental Europe. Both Mr Swalwell's interim replacements will report directly to Mr Todd Bradley, executive vice-president, global operations for Gateway.

Late last month Gateway warned its revenue and earnings per share for the fourth quarter, ending December 31st, would be significantly below Wall Street consensus estimates. The company blamed considerably weaker-than-expected consumer holiday sales of personal computers. Gateway's share price hit 12month lows yesterday before recovering slightly to finish at $17.61, , almost $60 off its year high.