Borland names new CEO

Beleaguered development tool maker Borland International has tapped former Apple executive Delbert W. Yocam to fill its CEO slot, which has been vacant since this summer.

Beleaguered development tool maker Borland International (BORL) has named former Apple Computer executive Delbert W. Yocam as the company's chief executive officer, filling a post that had been vacant since the summer.

The 52-year-old Yocam will also serve as Borland's chairman, charged with transforming the troubled company back into a leader in the tools market. Among his first tasks will be to direct the launch of three unnamed new products within the next six months, the company said.

Borland has wracked up financial losses and suffered the defection of several top executives this year, including former CEO Gary Wetsel this past summer.

The Scotts Valley, California-based company posted a second quarter net loss of $9.8 million, compared to $2.6 million in net income for the same quarter last year, attributing the loss to customers' reluctance to adopt the company's client-sever tools before they can better evaluate Borland's Internet and intranet direction.

Yocam served as CEO at Tektronix until 1994. He also served at Apple in several senior management positions including chief operating officer at the end of the 1980s.

Meanwhile, Borland lost its long-running lawsuit against Symantec (SYMC) over allegations that Symantec officials raided Borland's staff and took trade secrets to their new employer.

The district attorney in Santa Cruz County, California, decided to drop the four-year-old case before it went to trial, clearing Symantec's chief executive, Gordon Eubanks, and a former Borland employee of any wrongdoing.