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Baan in troubled times

The Dutch business software maker is seeing rough times as it looks for a turnaround yet to come. After projecting a wider-than-expected fourth-quarter loss that sent shares tumbling earlier this month, CEO Mary Coleman jumped ship. Now CFO James Mooney is also stepping down.

 

  latest developments 

Baan is seeing rough times as it looks for a turnaround that has yet to come. After projecting a wider-than-expected fourth-quarter loss that sent shares tumbling earlier this month, CEO Mary Coleman jumped ship. Now CFO James Mooney says he is also stepping down.

"Mary Coleman was one of the very few bright lights at the company. She's a proven software entrepreneur and I thought if anyone had a chance of turning (Baan) around, Coleman would."

- Douglas Crook, Prudential Securities financial analyst

 


Baan loses another executive
A little more than a week after the Netherlands-based business software company's CEO jumped ship, Baan chief financial officer James Mooney says he is also stepping down.

Previous coverage
Baan dives on news of fund problems
update Shares in the troubled Dutch business software firm are knocked down again, falling by as much as 20 percent following a Dutch newspaper report.

Ex-Baan chief takes San Francisco post
Just days after leaving her job as head of struggling enterprise software maker Baan, Mary Coleman accepts an executive post with the Internet Capital Group.

Investors question Baan's survival
update Shares in business software firm Baan slide almost to a record low as attention shifts from its losses last year to its long-term viability.

Is the enterprise resource planning market dead?
year in review Analysts say while the ERP market isn't completely dead, it has certainly slowed as business software makers, including SAP, Baan, J.D. Edwards and PeopleSoft, shift their focus to the Internet.

Profit warning, CEO resignation hit Baan
update Shares of Baan tumble more than 32 percent after the enterprise software company announces the resignation of its CEO and says it expects fourth-quarter losses to widen.

Baan chief leaving as problems mount
For Baan CEO Mary Coleman, who announces her resignation, holding a flailing software company together over the past seven months may have become too heavy a burden.