Baan CEO Resigns After 7 Months

Baan Co. NV head Mary Coleman has resigned as chief executive officer, Baan announced today.

Not coincidentally, Baan is forecasting a fourth-quarter loss of US$240-$250 million after restructuring, according to a report from Reuters. In October Baan reported a net loss of $25 million, or 12 cents per share, as well as significantly lower year-on-year revenue for the third quarter ended Sept. 30.

Coleman was appointed chairman and chief executive officer of the company in May. She is the former president and CEO of Aurum Software, a maker of CRM (customer relationship management) software acquired by Baan in 1997.

The current chairman of the Baan supervisory board, Pierre Everaert, age 60, will serve as interim CEO while the search for a permanent CEO of the business software maker is underway, according to a statement from Baan.

Baan, with headquarters both in Barneveld, the Netherlands and Reston, Virginia can be reached on the World Wide Web at http://www.baan.com and in the Netherlands at +31-342-42-8888.

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