EDS fires Brown
EDS ousted Richard Brown, chairman and chief executive officer, and announced that former CBS chairman and CEO Michael Jordan would replace him. Jordan took over March 24.
Jeffrey Heller, a former EDS executive who retired last year, was named president and chief operating officer.
Brown joined EDS in December 1998 amid much fanfare after a successful stint at Cable & Wireless Communications plc of London. EDS' stock has been battered in the past year, which contributed to Brown's downfall.
Jordan retired from CBS Corp., formerly Westinghouse Electric Corp., in December 1998. Before joining Westinghouse, Jordan was a partner with Clayton, Dubilier and Rice, a private equity firm in New York. Previously, he spent 18 years with PepsiCo Inc., where he served in numerous senior executive positions, including chief financial officer and president and CEO of PepsiCo WorldWide Foods, which includes Frito-Lay. From 1964 to 1974, he was a consultant and principal with McKinsey & Co.