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CNET News.com: Open-source stocks react to Linuxcare woes

Apr 10, 2000, 18:19 (0 Talkback[s])
(Other stories by Stephen Shankland)

"Linuxcare chief executive officer Fernand Sarrat has resigned, and the company has postponed its initial public offering...."

"The moves come amid a gloomy climate on Wall Street, particularly for Linux companies. Red Hat, VA Linux Systems and Andover.Net have been sliding since their wildly successful IPOs in 1999, and Caldera Systems had a lukewarm IPO in March...."

"In an interview Friday, Lambs declined to say why Sarrat resigned but said his last day of employment was today, when the Linuxcare board voted to appoint Lambs as head of the newly created "office of the CEO." Lambs said she believes Linuxcare and other Linux companies will be relatively unfazed by the change. "We don't feel the change at the top will affect the IPO," she said."

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