Enterprise systems management vendor BMC Software Inc. announced the appointment of a new chairman Tuesday, in a move that differs somewhat from the game of executive musical chairs being played by financially ailing technology companies that have made similar moves in that BMC is holding its own amid the slowing-economic tempo.
New Chairman Garland Cupp was plucked from the company's board of directors, replacing Max Watson, who stepped down as president and chief executive officer (CEO) January 5, and was acting as chairman until April 30. Watson is due to remain with the company until April 2001 in an "advisory capacity," the company said in a statement.
Watson was replaced in his capacity as president and CEO by Robert E. Beauchamp.
The new team is expected to strengthen the company's position, which some analysts have seen as solid, but see-sawing in the unpredictable economic climate. Although BMC upgraded expectations for the 2001 fiscal third quarter while others posted profit warnings, and reported better-than-expected fourth-quarter results for 2001, showing a 10 percent revenue increase over the previous quarter to US$422.8 million, the company is still slumping over past performance.
The company hopes that Cupp's appointment will help the company maintain momentum into the new fiscal year, new president and CEO Beauchamp said in a statement.
Cupp joined the company board in 1989 and was most recently the chairman of the Compensation Committee. He has held executive posts at American Express Co. and McDonnell Douglas Automation Co. and is currently chairman of Apex Mortgage Co.