Americans generally do the right thing, after first exhausting all the available alternatives - Winston Spencer Churchill
IN A TERSE 8K filing with the US Securities and Exchange Commission, SCO announced that last week it sacked its CEO and president, Darl McBride.
The filing reads, "On October 14, 2009, The SCO Group, Inc.,... announced that the Company has eliminated the Chief Executive Officer and President positions and consequently terminated Darl McBride."
The company is currently operating in bankruptcy under the supervision of its Chapter 11 Trustee, retired US District Judge Edward Cahn. Its remaining management team includes COO Jeff Hunsaker, CFO Ken Nielsen and general counsel Ryan Tibbitts.
The same SEC filing also stated, "SCO also announced a restructuring plan following an analysis of the company's operations and cost structure" by the Trustee, and that it "is also looking to raise additional funding and sell non-core assets to bolster working capital." µ
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