News

Baan Snaps

After realizing a dismal lack of fourth quarter revenues, Baan Co. announced the resignation of its CEO, Mary Coleman, effective immediately.

According to TheStreet.com, Baan (www.baan.com) expects to sustain a fourth quarter loss of $1.09 to $1.13 per share, or $240 to $250 million. Analysts had only expected a loss of 8 cents for the quarter. These losses come on the heels of a losing third quarter in which Baan ended up $25 million in the red.

TheStreet.com reports the enterprise software company will close 14 offices and reduce its workforce by about 4 percent. The cause of the losses is due to integration of previous acquisitions and restructuring costs while not realizing better revenues.

Coleman leaves the company after seven months in the top post. She was previously president and CEO of Aurum Software, which was acquired by Baan in 1997. She became president of Baan in October 1998 and later CEO in June 1999.

According to a release from Baan, Coleman is leaving the company to "pursue other technology-related opportunities nearer her home in Silicon Valley." Current chairman of the Baan Supervisory Board Pierre Everaert will take over as interim CEO while a search for a permanent replacement begins. Everaert has executive experience with Goodyear, General Biscuits S.A., Ahold USA, and Koninklijke Ahold N.V. -- Brian Ploskina

About the Author

Scott Bekker is editor in chief of Redmond Channel Partner magazine.

Featured

  • Old Stone Wall Graphic

    Microsoft Addressing 36 Vulnerabilities in December Security Patch Release

    Microsoft on Tuesday delivered its December bundle of security patches, which affect Windows, Internet Explorer, Office, Skype for Business, SQL Server and Visual Studio.

  • Microsoft Nudging Out Classic SharePoint Blogs

    So-called "classic" blogs used by SharePoint Online subscribers are on their way toward "retirement," according to Dec. 4 Microsoft Message Center post.

  • Datacenters in Space: OrbitsEdge Partners with HPE

    A Florida-based startup is partnering with Hewlett Packard Enterprise in a deal that gives new meaning to the "edge" in edge computing.

  • Windows 10 Hyper-V vs. Windows Server Hyper-V: Which Platform for Which Workloads?

    The differences between these two Hyper-V versions are pretty significant, depending on what you plan to use them for. Here's a quick rundown of each platform, from their features to licensing quirks to intended use cases.

comments powered by Disqus

Office 365 Watch

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.