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Gateway Replaces Chief Financial Officer

September 17, 2002|Bloomberg News

Gateway Inc. named Roderick Sherwood of Opsware Inc. its chief financial officer, replacing Joseph Burke, as the computer maker struggles to boost sales and return to profitability.

Poway-based Gateway said Burke would become senior vice president. He is making the change to spend more time with his family. He has been commuting from North Carolina.

Sherwood, 49, was CFO of Opsware, a software company founded by Marc Andreessen that previously was called Loudcloud Inc. He also had held senior finance positions at Chrysler Corp. and Hughes Electronics Corp.

Burke, 44, joined Gateway in 1995 and was named finance chief in January 2001 after founder Ted Waitt returned as chief executive following a yearlong absence.

The company has suffered from an industrywide slump in PC shipments.

Before the announcement, Gateway shares fell 34 cents to close at $2.85 on the New York Stock Exchange.

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