RETAIL
Cray Inc. Announces Resignation of Michael P. Haydock
SEATTLE, WA -- Supercomputer provider Cray Inc. (Nasdaq:CRAY) today announced Michael P. Haydock has resigned as president and chief executive officer and from the company's board of directors due to differences with the board of directors in how to restore the company to long-term industry leadership. The company remains committed to the strategic plan developed last fall, to current financial guidance for 2002 and, most importantly, to profitability. To achieve consistent profitability the company is committed to carefully controlling expenses and developing a cost structure that matches its revenue stream.
