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Yocam was pushed from Inprise over earnings fall

Company to split into two units

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Internet Security Threat Report 2014

Del Yocam, the former CEO of Inprise, which is still better known as Borland, was pushed. His sudden resignation on 31 March turns out to have been the result of "philosophical differences regarding the company's growth strategy". The board says it asked for his resignation. Unpacking this, it transpires that Q1 earnings will be way below expectations, with a probable loss of 55 cents/share, rather than an expected profit of 3 cents. Some 34 cents of the loss is down to restructuring and severance costs, including no doubt a severance payment for Yocam. This bad financial news also accounts for the departure of CFO Kathleen Fisher, whose resignation was requested. Dale Fuller, late of WhoWhere?, Apple, and NEC, was appointed CEO and interim president. William Miller who was previously a non-exec director is the new chairman. Fuller is credited with the ability to create shareholder value. Hambrecht & Quist has been retained to advise the board on strategic alternatives, which probably means to make Inprise and Borland.com into two separate and independent companies. ®

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