Unisys named turnaround specialist J. Edward Coleman CEO in an effort to boost the performance of the computer-services and hardware firm, according to The Wall Street Journal.
Coleman is best known for restructuring computer maker Gateway before selling it to Taiwanese PC maker Acer in 2007. His appointment could result in opportunities for selling all or part of Unisys. Gateway was sold for $710 million, a 57 percent premium over Gateway’s market price at the time, according to the WSJ.
Coleman told the WSJ that it’s too early to tell whether parts of Unisys will be sold. “The board brought me in based on a reputation for improving results,” he said.
Coleman plans to “take a fresh look” at whether or not the hardware operations should be retained. Unisys, based in Blue Bell, Penn., announced last month that its CEO, Joseph McGrath, would resign by the end of 2008.
Unisys has been battling activist investment company MMI Investments, which has a 9.1 percent stake in the company and is highly critical of management. MMI has named two directors to Unisys’ board.
Coleman will succeed both McGrath as CEO and Ric Duques, the company’s non-executive chairman, who will remain a director. The unusual move is linked with the belief that unifying the roles should speed up the company’s turnaround process, according to the WSJ.