“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.”
