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San Francisco Business Times: CEO and IPO spell headache for Linux firm

Apr 17, 2000, 18:34 (0 Talkback[s])
(Other stories by Daniel S. Levine)

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"In a double-barrelled surprise for the Linux community, Linuxcare Inc. said CEO Fernand Sarrat has left and it has postponed its initial public offering...."

"There are not only a growing number of IPOs backing up on the launching pad because of the turbulence in the NASDAQ market, but there also has been a notable weakness among Linux issues. Such Linux stocks as once high-flying Red Hat and VA Linux Systems have fallen sharply from their exuberant highs."

"Asked to clarify whether Sarrat, who had been on the job for less than a year, quit or was fired, Lambs said, "As with any employee, I'm just not at liberty to give out any of the circumstances surrounding an employee departing the company. All I can say he left the company and that was an action of the board of directors last Friday."

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