With its shares battered in recent months, Baltimore Technologies CEO Fran Rooney decided to step down last week "to pursue other interests."
Baltimore CEO Resigns
With its shares battered in recent months, Baltimore Technologies CEO Fran Rooney decided to step down last week "to pursue other interests." The company, which specializes in security and certificate authority products, says it has cash reserves of about $76 million and it plans to cut costs. Paul Sanders, the companys chief financial officer, is stepping in as interim CEO.
Getty Images, which supplies graphics and photographs via the Internet, was forced to lay off 300 people after its second-quarter revenue came in lower than expected. Revenue in the quarter was $115 million, compared with expectations of $120 million to $130 million. The Seattle company will employ about 2,000 people after the layoffs.
Better Than Expected
Electronic software distribution specialist Marimba says its second-quarter loss will be narrower than expected. The company, which reports on July 23, says its loss is expected to be 15 cents to 17 cents per share, compared with forecasts of 18 cents. Separately, the company named Rich Wyckoff as president and CEO, succeeding John Olsen, who is leaving.