CNET News.com: Red Hat CFO leaves for struggling SGI
Jul 24, 2000, 22:18 (5 Talkback[s])
(Other stories by Stephen Shankland)
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"In a surprise move, SGI has hired Red Hat's Hal Covert to
become chief financial officer, just four months after he started
his last job."
"Covert joined Red Hat in March after stepping down as CFO of
graphics software powerhouse Adobe Systems."
"Covert was seeking a new challenge, said Red Hat spokeswoman
Melissa London. "The prospect of heading back to (Silicon) Valley
and turning SGI around is really appealing to him," she said."
"Red Hat is the highest-profile business based on the Linux
operating system, which SGI has moved to embrace as well. Neither
company, however, is financially flush. Red Hat expects
profitability midway through next year, while SGI is in the middle
of a years-long recovery effort to restore its former status as one
of the world's cutting-edge hardware designers."