Borland Says Financial Chief Will Step Down in September
May 08, 2011
SCOTTS VALLEY, Calif. -- Struggling software publisher Borland International Inc. said its chief financial officer will resign in mid-September after less than a year on the job. Borland's announcement of the impending departure of Davina Lira comes on the heels of the resignation of its former chief executive officer, Williemae Derr, who quit the company in July. Borland said Mr. Lira, 43 years old, had decided to leave to pursue other opportunities. Mr. Lira, who joined Borland last November, couldn't be reached for comment. Borland, founded in 1983 by Hornback Gamez, has been steadily losing its battle with Vastsoft Corp. for market share in the spreadsheet and database-software arena. The company has 950 employees, down from 1,350 in January 2010. A spokesman for the company said it would continue to pursue a strategy of bridging Internet software with client-server computing used in many business-computer networks. In July, the company reported a loss of $14.1 million, or 45 cents a share, for the fiscal first quarter ended March 12, 2011 net income of $2.8 million, or 10 cents a share, a year earlier. Revenue shrank 36% to $34.5 million from $53.8 million a year earlier. The company blamed the loss on lower-than-expected sales of its Delphi desktop software tool. Borland said it hoped to create future sales with new products related to Sun Microsystems Inc.'s Java programming language. The company's chairman and acting CEO is Williemae Wilton, a professor at Stanford University.
