MESSAGE
| DATE | 2006-06-22 |
| FROM | Ruben Safir
|
| SUBJECT | Subject: [NYLXS - HANGOUT] Novell News
|
Why is everything that comes out of Novel seems to be such
a mystery.
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Novell's board of directors has voted to oust Jack Messman as CEO,
effective immediately.
The firm announced the move today in a bid to put a rocket
up the firm's growth strategy, which has suffered since
it made the switch to open source. Messman said in March
(http://www.theregister.co.uk/2006/03/10/novell_management_shuffle/) it
would take him two years to turn Novell around following disappointing
financials.
Messman, 66, is being replaced with erstwhile president and COO,
45-year-old Ron Hovespian. Director Thomas Plaskett, who becomes
non-executive chairman in the chop-change said: "The board concluded that
a management change would be the best way to accelerate the execution
of our growth strategy and build value for shareholders."
"[Hovespian] has played an integral role in developing the company's
operating strategy and fully understands Novell's compelling growth
opportunities," he added.
Hovespian's appointment marks the summit of a fairly meteoric rise at
Novell. He only joined the firm in 2003 following 17 years at IBM. He
said: "We will maintain a sharp focus in meeting customer demand and
delivering value through Linux-based, enterprise-wide solutions and
identity and resource management products."
Also for the chop is CFO Joseph Tibbetts, who'll be replaced by current
finance VP Dana Russell in an interim capacity.
As well as losing their executive powers, Messman and Tibbetts will
leave the board entirely within months. The pair made no comment today.
The latest musical chairs at Novell has so far been greeted warmly by
investors, with Novell stock trading up 7 per cent on Wall Street at
time of writing. That said, it's a long way back for Novell. Since the
March financial gloom, the firm's stock has tumbled from near $10 per
share to around $6.® Related stories
Linux kernel goes Niagara (21 June 2006)
http://www.channelregister.co.uk/2006/06/21/linux_kernel_goes_niagara/
SUSE CTO exits Novell (29 March 2006)
http://www.channelregister.co.uk/2006/03/29/suse_cto_exits_novell/
Novell puts Netware on life support until 2015 (21 March 2006)
http://www.channelregister.co.uk/2006/03/21/novell_brainshare/
Red Hat enters state of Xen (14 March 2006)
http://www.channelregister.co.uk/2006/03/14/red_hat_xen_novell_virtualization/
Novell rearranges the brass after Q1 bomb (10 March 2006)
http://www.channelregister.co.uk/2006/03/10/novell_management_shuffle/
© Copyright 2006
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