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Macromedia chief steps down as CEO

Bud Colligan resigns as CEO and president of software developer Macromedia, effective November 1.

Bud Colligan will resign as CEO and president of Macromedia as of November 1, but will retain his title of chairman of the multimedia software maker.

Rob Burgess, formerly a senior vice president at Silicon Graphics, will succeed Colligan, but the position of CEO at the company will be phased out. Burgess ran the Alias/Wavefront software subsidiary at SGI.

Company officials said Colligan will continue to be active in the company, concentrating on product development and sales and distribution, while Burgess will run day-to-day operations.

Macromedia (MACR) has seen its stock slide recently as sales have faltered.

Colligan is on the board of directors of CNET: the Computer Network.