Ariba Names Calderoni CEO
Business-to-business e-commerce platform developer Ariba Inc. took two steps this morning to get its financial house in order it appointed a new CEO and predicted slightly better than expected fourth quarter sales. Ariba elevated Senior Vice President and Chief Financial Officer Robert Calderoni to the post of CEO. Founder and Chairman Keith Krach had been acting CEO since Larry Mueller abruptly resigned in July when the company announced a big loss for its fiscal third quarter.Later today Calderoni will announce Ariba Spend Management, a turnaround plan for the company. The strategy will provide purchasing officers with a single place to go to access all of their companys spending data. It is believed to include the introduction of a host of new products in the areas of strategic analysis, supplier relationship management and contract management. Ariba plans to have the full Spend Management product suite on the market by the end of the first quarter, 2002. The company last month introduced its Enterprise Sourcing platform, which provided more robust direct procurement capabilities than previously offered. It will be included as the first component of Ariba Spend Management. Calderoni, who joined Ariba in December 2000, will continue as interim CFO. Krach will continue as Ariba chairman.
Calderonis first order of business was to provide guidance on Aribas financial situation. He said in a statement that he expected revenue for Aribas fourth fiscal quarter, which ended Sept. 30, would be $62 million to $63 million. That compares with a prediction of $59 million by analysts, the company said. In the same quarter last year Ariba reported $134.9 million in revenue. The company will issue its official earnings report on Oct. 24.