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EDS chief exec to retire

The company announces that chairman and CEO Les Alberthal informed the company's board of directors that he has decided to retire.

EDS announced that chairman and CEO Les Alberthal informed the company's board of directors that he has decided to retire.

Alberthal will continue as chairman and CEO until a successor has been found and will help search for his replacement.

Alberthal has been at EDS for 30 years, including the past 12 as its CEO. "This is a good time for the transition to new leadership," Alberthal said in a statement. "[EDS is] achieving record sales, our reengineering efforts are well under way, and operational issues are being addressed."

He also said the company is "in the process of returning to consistent growth."

EDS, a global information services company, has more than 110,000 employees specialized in applying technology to help business and government customers improve their economics, products, services, and relationships. EDS has a presence in 45 countries and reported revenues of $15.2 billion in 1997.

Under Alberthal's leadership, EDS revenues grew from $4 billion to more than $15 billion as the company expanded its operations. He also led the company's efforts to attain full independence from General Motors, which culminated in a June 1996 split-off.