Chief Executive of Cray Resigns

Cray Inc., the Seattle-based supercomputer company, said Chief Executive Michael Haydock resigned because of differences with the board over the company’s future. Chairman and former CEO James Rottsolk has taken over Haydock’s post. Haydock had worked for IBM Corp. from 1989 to 2001, last serving as a vice president in its computer services unit.

Haydock’s resignation follows disagreement with board members over how to return Cray to profitability, the company said without providing details. Cray plans to finish development of the SV2 computer and begin selling the machine in the second half. The company also wants to boost sales of its SX-6 computers, used to predict weather and handle industrial jobs. Cray shares fell 33 cents, or 14%, to $2.04 on Nasdaq.