Commerce One loses president, CFO

Commerce One announced the resignation of two top executives Monday, signaling a significant changing of the guard for the e-commerce company as it continues to navigate rough economic waters.

The company is losing both its President and Chief Operating Officer Dennis H. Jones, and its Chief Financial Officer and Senior Vice President Peter Pervere. Jones will not be replaced, instead, his duties will be taken over by Commerce One Chairman and Chief Executive Officer Mark Hoffman, the company said.

Pervere will be succeeded by Chuck Boynton, the company's current vice president and corporate controller.

No reason was given for the executives' departure.

Stock of the (CMRC) Pleasanton, California, company traded down 5 percent to US$0.95 Tuesday in the wake of Monday's announcement.

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