Gateway Inc. Chief Financial Officer Rod Sherwood plans to retire later this year, the company said Monday.
Sherwood was the last remaining executive from the old Gateway, before it bought Irvine computer maker eMachines and moved from San Diego to Orange County.
Gateway bought eMachines early last year for some $266 million in cash and stock. But in an unusual turn, eMachines’ chief executive, Wayne Inouye, took over the company that bought his.
Inouye then replaced virtually all of Gateway’s executives with ones from eMachines.
Sherwood “has improved the company’s controls and processes and increased our financial and strategic flexibility,” Inouye said in a prepared statement.
Prior to joining Gateway, Sherwood served as executive vice president and chief financial officer at Loudcloud,now Opsware Inc.,the lukewarm encore by Netscape Communications Corp. cofounder Marc Andreessen.
Sherwood has a lot of other interesting experience, including a gig at DaimlerChrysler AG, where he was a key contributor in redesigning the automaker’s development process and architect of a $3 billion cost-cutting plan. He’s also held executive positions at Hughes Aerospace and DirecTV Group Inc., among others.
Sherwood will help select his replacement and will remain at Gateway for a transition period, Gateway said in a statement.
