Netscape CEO Gives Shareholders Comfort

Netscape has held a company?s shareholder meeting to reassure investors that it has the correct business strategy to ensure its future success.

Jim Barksdale, Netscape CEO, told shareholders last week that the company is progressing with its strategy to shift towards a more profitable services business. He claimed that the majority of analysts predicted a rosy future for Netscape, which is due to launch its Communicator suite in June.

He said: ?The price is like a roller-coaster. I think we have a lot of momentum players in our stock.?

According to Barksdale, the fact that many traders see Netscape as a short-term investment makes the company?s share price unstable.

Sources said the majority of shareholders left the meeting happy with the company?s direction and products, but were still concerned that Netscape?s shares are at their lowest level for a year ? almost a third of the value they held in January 1996.

To demonstrate his commitment to Netscape, Barksdale announced at the meeting that he will take a salary of $1 in 1997 to prove his dedication to the company?s strategy.