Client server development tools supplier Blyth Software has replaced its senior management team in the US as the latest stage to ?redefine? itself and shake off its multi-million dollar losses.
The company announced this week that Oracle veteran Tim Negris, formerly VP for marketing, had assumed the role of chief executive, replacing Michael Minor who remains with the firm as a ?strategic adviser?. Chief operating officer Stephen Lorentzen has resigned and Pat McEntee joins the firm to take over the marketing role vacated by Negris.
McEntee said the changes were intended to ?reinvent? the company which has reported heavy losses. At the nine month stage to 31 December 1996, the company returned a net loss of $3.8 million on revenue down 20% on the previous year to $10.3 million.
"The management team that has led the company through the challenging financial times has decided that they would like to rest as it were," said McEntee, adding that the new team planned to ramp up marketing to promote new Web enabled products and beef up sales.
Bill Glynn, Blyth chief financial officer, said the company had been successful in cutting its cost base in half over the previous two years. "The only area we haven?t achieved is sales growth," he said. As to when he expected the company to be profitable, he added: "That?s the $64 million question."
New products will be rolled out over the next two quarters and the company accepts that it is unlikely to see a significant upturn in sales until they are widely available.
In the UK, managing director Kevin Adams was removed in last autumn and will not be replaced. McEntee said the UK operation had been turned into a sales arm which reports in to Negris. UK marketing efforts will be controlled from corporate headquarters in Foster City, California.
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