IBM Names PC Chief Jan 17, 2003

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International Business Machines Corp. named Stephen Ward to head its personal-computer business. Mr. Ward succeeds Robert Moffat, a senior vice president who will focus on finding ways to cut IBM's costs and make processes more efficient. Mr. Ward previously ran an IBM division that sells computers to industrial clients such as automakers. He will oversee PCs and ThinkPad laptop computers amid increasing price competition. IBM's PC unit has lost money the past 4 years. (Bloomberg News)

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