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In Business This Week
PACKARD BELL RINGS IN A NEW CEO
PACKARD BELL CEO BENY ALAGEM RESIGNED ON JUNE 30, citing fundamental differences with the privately held company's two major shareholders, Japan's NEC and France's Groupe Bull. The company intends to name Alain Couder, now COO of Groupe Bull, as its new CEO. Alagem had been under pressure to turn around the struggling computer maker, which has been losing money for years, so that it could go public. Sales last year were $4.2 billion, down from a peak of about $7.5 billion in 1996, when Bull's Zenith brand and NEC's operations outside of Japan and China were folded into the company. Packard Bell NEC, which once sold half of all home computers in the U.S., has seen its share of the retail market fall to 34%.EDITED BY KELLEY HOLLAND