Bob Finocchio is to step down as Informix chief executive after barely three years in the job.
Although he will remain as chairman, he told journalists that he wanted to spend time with his family and felt it was a good time to leave because the company had entered 'phase two' of its recovery.
He will be succeeded by Jean-Yves Dexmier, who is currently executive vice president of worldwide field operations. Analysts do not believe Dexmier will introduce significant change in the company since he has been working closely on strategies with Finocchio for the past two years.
Said Finocchio: "We are entering the next phase of our gameplan focused on execution of our strategy and growth in our business. I felt the right thing to do was to transition now to the leadership that will be in charge of developing the company over the coming years."
Finocchio, former 3Com president, replaced Phil White as chief executive in July 1997 and was charged with turning the company's fortunes around. When he arrived Informix made a $180 million loss for its fiscal first quarter results.
Last month Informix reported revenue of $196.6 million for its 1999 fiscal first quarter. Profit was $7.2 million with earnings per share of $0.04.
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