LinuxWorld: Linuxcare investors staying put: New CEO Lambs addresses the rumorsApr 12, 2000, 01:53 (0 Talkback[s])
(Other stories by John Pancharian)
"No matter why Fernand Sarrat left Linuxcare, or why the IPO was delayed, there's only one question that matters: will investors stick with the company?"
"The rumor mill has been in high gear since April 7, when Linuxcare announced the departure of CEO Fernand Sarrat. In various online reports, anonymous sources have suggested that Sarrat was ousted by Linuxcare, a Linux support firm based in San Francisco, for causes ranging from over-reporting revenue to sexual impropriety. According to some reports, Linuxcare CIO Douglas Nassaur was also on the way out. This news, combined with Linuxcare's postponed IPO, smelled like disaster to many. But as the dust settled and Linuxcare assembled its new office of the CEO, the choices for that office indicated that investors were sticking with the company."
In an interview with LinuxWorld today, new CEO Pat Lambs repeated that the events surrounding any Linuxcare employee's departure are confidential. However, she did state emphatically that "there are absolutely no issues with revenue." She also said that she didn't know how rumors about Nassaur's ouster got started, and confirmed that the CIO is still employed with Linuxcare. She said the company was not, as one report suggested, trying to find a way to oust Nassaur without paying the generous severance package that his contract provides."
"Lambs confirmed that Linuxcare does intend to offer an IPO, but said that the date was still unpredictable, given the choppy seas in the tech market these days."