Retiring Gateway chairman to focus on nanotech investments

May 19, 2005 — Ted Waitt, founder and chairman of Irvine, Calif.-based Gateway Inc., said today that he will step down from the board after the company’s annual shareholders meeting to focus on business and philanthropic interests. In an interview published in the online version of the Wall Street Journal, Waitt said he planned to devote more time to investments in nanotechnology and biotechnology.

The board elected former president and long-time director Richard Snyder as chairman, effective upon his re-election to the board. Snyder is chief executive officer of Ardesta LLC, an investor in Small Times Media and in numerous technology companies that specialize in microsystems. Ardesta is located in Ann Arbor, Mich.

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