SCO sacks Darl McBride
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
L'Inq
Groklaw
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For McBride, this can only be a positive result, given that:
(SCO is one of the biggest losers, a patent-troll corporation with negative worth) * (firing, generally viewed as a negative action) = a net positive result for McBride.
Perhaps he will now assume his rightful place in Microsoft's board of directors (instead of just being a Microsoft sock-puppet).
"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."
Hmmm... does that mean someone drove him out into the California Mountains and shot him in the head?
Rob
McBride's contract probably contained some trigger clauses that SCO didn't want to deal with if they outright fired him. So they eliminated his titular positions thereby avoiding issues of firing for cause (as he must not have been willing to resign voluntarily).
The court-appointed trustee can take almost any step, approved by the presiding judge, to bring a company back out of bankrupcy, or to liquidate operations altogether.
This includes canning incompetent executives.
... SCO still exists?
I was more thinking along the lines of going against Arnie in a 1-on-1 paintball match through the office.
His mouthpiece Maureen O'Gara has published a bizarre Open Letter from McBride to the trustee which shows how deep his delusions go:
http://dotnet.sys-con.com/node/1150867/print
..."Hmmm... does that mean someone drove him out into the California Mountains and shot him in the head?"...
Uhm... that would be the Utah Mountains.
The SCO that was in California was bought out a long time ago by this "The SCO Group" in Utah... not even the same company.