Date Posted: 8/22/2007
Unisys names former PeopleSoft CEO Conway to board
BOSTON, Aug 21 (Reuters) - Unisys Corp (UIS.N: Quote, Profile, Research), an old-school computer maker that is working to remake itself as a profitable technology services company, said on Tuesday that former PeopleSoft chief executive Craig Conway has joined its board of directors.
Conway was elected to the board as the company looks to boost revenue from services work in what it has targeted as fast-growing segments of the software market, including open-source products, security work and data centers running on programs from Microsoft Corp. (MSFT.O: Quote, Profile, Research)
Conway took the helm of PeopleSoft in 1999 and revamped its product line, making the company's software more Internet friendly. The effort revitalized sales, but he was pushed out of his job in 2004 as he lost a hostile takeover battle with former employer Larry Ellison, the chief executive of Oracle Corp (ORCL.O: Quote, Profile, Research).
He has been on the board of Salesforce.com Inc (CRM.N: Quote, Profile, Research) since 2005. He graduated from State University of New York with a degree in computer sciences and mathematics and spent eight years at Oracle early in his career.
The financial performance of Unisys has been uneven over the past couple of years as CEO Joseph McGrath slashed its payroll, shed unprofitable businesses, outsourced production of hardware and identified fast-growing areas where he wants to focus the computer services business.
The roots of Unisys trace back to the 1870s when E. Remington & Sons started selling typewriters. But it is probably best known as a manufacturer of computers for governments and large corporations, such as the UNIVAC which it started selling in 1949.
The Blue Bell, Pennsylvania, company's stock has tumbled 21 percent since it reported a wider-than-expected quarterly operating loss on July 24., blaming declines in its systems integration and consulting businesses. The Standard & Poor's 500 Index, by comparison, has fallen 6 percent during the same period.
Unisys shares rose 6 cents to $7.29 at midday on the New York Stock Exchange. They are down from a 52-week high of $9.70 on July 5. (Reporting by Jim Finkle)
|
Email Page
|
Sponsor Message |
 |
|