Beny Alagem Resigns From Packard Bell NEC; Home Market Pioneer Leaves Company he Founded to Pursue New Entrepreneurial Ventures.SACRAMENTO, Calif.--(BUSINESS WIRE)--June 30, 1998--Beny Alagem, chairman, president and chief executive officer of Packard Bell NEC (Packard Bell, The Netherlands, www.packardbell.com) A major PC manufacturer that is the consumer brand of NEC Computers International and the home computing market leader in the U.K. and much of Western Europe. , resigned Tuesday, citing fundamental differences with shareholders NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. and Groupe Bull Groupe Bull (also known as Bull Computer or simply Bull) is a French computer company based in Les Clayes-sous-Bois, outside Paris. The company has also been known at various times as Bull General Electric, Honeywell Bull, CII Honeywell Bull . A pioneering entrepreneur, Alagem changed the face of the personal computer industry in 1986 by by bundling an operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. and software in a desktop unit and then convincing mass market retailers, which had never carried computers, to sell "home PCs" to consumers. By 1994, Packard Bell had become the No. 1 manufacturer in the United States and the fourth largest PC company worldwide. "Seven months ago we began looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a senior executive who could come in as COO and eventually take over as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . I actively participated in the search process," Alagem said. "The shareholders have now reached a decision, so the time is right for me to find a new challenge." "NEC and Groupe Bull asked me to stay on as chairman," Alagem continued, "I decided I'd be happier in my own venture." Alagem founded Packard Bell in 1986, soon after he and two partners bought rights to the Packard Bell name from Teledyne Corp. Groupe Bull acquired a minority share in the company in 1993 and NEC became an investor in 1995. Alagem and his co-founders remain shareholders, currently holding 25 percent of the company.
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