Cray chief quits amid board discord
Published: 05 Mar 2002 15:23 GMT
Supercomputer maker Cray on Tuesday said President and chief executive Michael Haydock has resigned over differences with the board about how to restore the company to long-term industry leadership.
The company said chairman James Rottsolk will return to his old positions of president and chief executive, and Cray will continue searching for additional senior operating management.
Cray said it remains committed to the strategic plan developed last fall, current financial guidance for 2002, and to profitability. To get to profitability, Cray said it is carefully controlling expenses and developing a cost structure that matches its source of revenue.
Among the goals Cray has lined up to regain leadership are: growing sales of its Cray SX-6 series of supercomputers from NEC into the industrial, weather and other classic vector markets; complete development of its SV2 project system; and expansion of its technology and services relationship with Dell.
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