Richard Egan founded the EMC Corporation in Hopkinton, Massachusetts in 1979. He identified a niche in the computer industry for computers with more memory at a better price than was currently the case, while working for Intel. According to the company profile, it is the only company worldwide to “focus entirely on rapidly delivering intelligent enterprise storage and retrieval solutions that enable companies and organizations to leverage their growing volumes of information into profitability, growth and competitive advantage.”
EMC is the worldwide leader in designing, manufacturing, marketing and supporting high performance storage products. In 1996 EMC’s annual revenue surpassed $2.27 billion and the company currently employs 4,800 people in over 80 offices throughout the world. EMC’s largest breakthrough came in 1990, when it was the first company to introduce intelligent storage systems which bundle arrays of disks to handle the massive storage and rapid retrieval demands of IBM mainframe users. It has kept this advantage by developing a standard design called MOSAIC: 2000, which allows new technologies to be incorporated more rapidly and enhances portability to non-IBM environments.
From 1979, Richard Egan held the position of president and chief executive officer, until 1992 when he became the chairman of the board and Michael Ruettgers was appointed president and chief executive officer. Mr. Egan has been active in the technology industry, specifically storage systems, since graduating from Northeastern University in 1961. He began his career in the Data Processing Division of Honeywell and moved on to The Draper Laboratory at MIT in 1963, where he aided in the development of the Apollo Guidance Computer. His first entrepreneurial adventure began when he co-founded Cambridge Memories, Inc. He brought this company to a profitable level before leaving to join Intel as the general manager of the Commercial Systems Division. He continues to hold the position of chairman of the board of the EMC Corporation and is very active in the educational and high-tech community of Boston.