The eponymous co-founders of Lernout & Hauspie (L&H) have resigned as joint chairmen and managing directors as the Belgian speech recognition specialist attempts a financial recovery.
Roel Pieper, former chief executive at Tandem Computers, will replace Jo Lernout and Pol Hauspie as chairman. John Duerden, who was appointed chief executive in August, will become sole managing director.
Company officials said the executive changes are "steps towards resolving recent controversies affecting the company".
Industry analyst Romteck said that Dragon Systems, an L&H subsidiary, appears to be doing well in the market. "It seems that L&H is pushing Dragon, which specialises more than L&H, into the corporate speech recognition market. UK sales for L&H have dropped, but Dragon has now taken the number two slot behind IBM in the market by publisher value," said an analyst.
L&H also confirmed that it would restate its financials for the past 10 months, following a company-wide audit. A probe into its Korean division was mounted after allegations that some companies, which L&H identified as Korean customers, denied doing any business with the firm.
An employee of LG Electronics, one of 18 alleged customers, said it had never bought products or licences from L&H.
The company also warned that its turnover for the third quarter ended 30 September will be at least $40m below its previously published figures.
Both Lernout and Hauspie will stay on as vice chairmen of the board and will chair its technology advisory committee. Hauspie has taken a leave of absence from his responsibilities as director for medical reasons, the company said.
L&H is also expected to appoint a new chief financial officer to replace Carl Dammekens, who will assume another position within the company.
J1043+2408 was observed for more than 10 years, and its radio light curve exhibited a periodic signal repeating in about 563 days
Success of Unity's test flight means Virgin Galactic is now close to taking its first paying tourist into space
V3 puts the pro-level football GPS tracker through its paces, and asks if it's more than a gimmick
Finding refutes many earlier studies that suggest that galaxies don't have much dark matter at the time of their birth