Thursday, December 7, 2006

Gateway Expands Board of Directors

Irvine-based Gateway said today that it is expanding its board of directors, after reaching an agreement with Firebrand Partners, which is leading an investor group that owns approximately 10.7% of the firm's stock. Gateway said that Scott Galloway, a clinical associate professor at NYU's Stern School of Business, has been appointed to the board of directors of the firm, as part of a deal with the investor group. Galloway is a member of Firebrand and is co-founder and director of Red Envelope. Gateway said the appointment is part of an agreement to avoid a proxy contest with the investor group. Gateway is a manufacturer of personal computers and peripherals.

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