Brent Frei, chief executive at US software vendor Onyx, is to resign nearly 10 years after he co-founded the customer relationship management (CRM) company.
Frei will step down once a successor is found by US recruiting firm Christian & Timbers.
"I believe the time is right for me to hand over the reins to a chief executive who can take Onyx to new heights over the next decade," he said in statement.
Under his leadership, Onyx has been a major player in the establishment of CRM as a standard enterprise application by offering a single view of customers. The firm also anticipated the move to an internet-based architecture.
Onyx has just released its fourth-quarter results, which show revenue falling below forecasts at $13m and an operating loss of $1.3m.
But executives were quick to deny that Frei's departure had anything to do with the company's fortunes, or with abandoning its $100,000 bid for Pivotal last December.
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