The future of reseller Gresham Computing was in doubt last week after its chief executive, chairman, two directors and its chief technical officer all resigned.
Gresham's departures followed the findings of a strategic review carried out by Bill Simpson, who joined Gresham as chief executive in December 1999 and left the company last week.
Simpson was hired to examine Gresham's business strategy after the company issued two profit warnings and reported a pre-tax loss of #401,000 for the year ended 31 October 1999. Simpson presented his report to the board last week, but two major shareholders refused to support the strategy, which prompted the resignations.
Alan Davies, chief technology officer, also left last week. Roger Graham, chairman, and directors Peter Bickerton and Clifford Jakes had resigned earlier in the week. Sid Green is now chairman.
Analysts predict the VAR could be "broken up and sold off".
Gresham is now expected to focus on e-commerce software, Web site testing and consulting.
Max Thowless-Reeves, analyst at Richard Holway, said: "The resignations were bizarre, but Gresham has been a roller-coaster ride for shareholders ever since 1997. Investors at Gresham will be looking for quick explanations and a quick resolution to the current uncertainty."
Moon's dark side is mountainous, rugged and never visible from the Earth
The groundwater basins in some areas of Tehran have been damaged irreversibly
This is the first time that any spacecraft on Mars has recorded air vibrations on the planet
Arctic sea ice is thickening at a faster rate during winter, thus slowing down long-term decline: NASA
But, the seasonal ice growth could only delay the demise of the Arctic ice cap for a few more decades