Gateway founder, CEO resigns

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Gateway founder, CEO resigns

The PC industry titan Ted Waitt, the billionaire businessman who launched a cowhide empire, has stepped down from his CEO post at Gateway Inc.

The ponytailed entrepreneur is credited for helping pioneer the direct sales channel for PCs.

Waitt will remain chairman of the massive PC company he founded in South Dakota in 1985. But effective Jan. 1, Gateway President Jeff Weitzen will add the CEO role to his responsibilities.

The story is posted at An audio report is available at in both RealPlayer and Windows Media Player formats.