By Paul Kunert
25 September 2008
Unisys is hunting for a successor to CEO Joseph McGrath after it emerged he plans step down at the end of 2008 following three difficult years at the helm.
In a statement the system integrator said a change at the top was the right solution. “Mr McGrath will work with the board of directors to ensure a smooth leadership transition for the customers.
“Directors and Mr McGrath agreed that a change in leadership would best enable Unisys to move forward on accelerating execution of the company’s strategy,” it added
During his tenure, the systems integrator, reported $66m in restructuring charges in 2007 on revenues of $5.65bn and losses of $79.1m.
More recently, in the second quarter, Unisys posted revenues of $1.34bn and a $14m loss.
During the early noughties Unisys ditched its hardware business in favour of system integration, consulting and maintenance but as others have found to their peril, the transition is not a simple process.
