Informix CEO steps down, former CFO takes over

Bob Finocchio will step down as president and chief executive officer of Informix, but will continue in his role as chairman of the company's board. Replacing him will be Jean-Yves Dexmier, currently executive vice president of worldwide field operations, who was previously Informix's chief financial officer.

The transition, which includes Dexmier being appointed to the company's board of directors, will become effective July 16, the database vendor said in a statement earlier this week.

"For almost two years, Jean-Yves has been my partner in building the new Informix He has worked with me from the beginning to rebuild our credibility with our customers, partners and Wall Street, and in returning the company to profitability," said Finocchio in the statement.

As Informix chairman, Finocchio will help set corporate strategic direction, business development and industry relations, as well as advise Dexmier, the statement said.

Finocchio was not available to comment.

A company spokeswoman said the transition would be "natural," particularly since Dexmier "is considered one of the architects of the new Informix."

Finocchio "made a personal decision to spend more time with his family, to have a life," said Informix spokeswoman Kate Patterson.

Dexmier joined Informix in October 1997 as chief financial officer and was moved to his current position in January, replaced by Howard Bain, former CFO and vice president of worldwide operations at Symantec.

When Dexmier was hired as CFO, he filled a position that had been vacant for more than six months. The previous CFO had served only four months, quitting after the company posted an unexpected first-quarter 1997 loss of $US140 million.

Informix has since turned its financial results around. Last month, the company posted first-quarter net income for the period ended March 31, 1999 of $7.2 million, or 4 cents a share, which is what analysts had forecast. For the same quarter a year earlier, Informix had posted a net loss of $386,000.

Before working for Informix, Dexmier was CFO for Octel Communications and Thomson Consumer Electronics.

More about Consumer ElectronicsInformixOctelSymantecWall Street

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