UNIX software vendor firm SCO Group has sacked its chief executive and president Darl McBride, the company noted in its filing with the US Securities and Exchange Commission.
The cash-strapped firm is as of now operating in bankruptcy under the control of its Chapter 11 bankruptcy trustee, former-US District Judge Edward Cahn.
In its filing with the US regulators, the company said: “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 remaining management team of the company now includes CFO Ken Nielsen, COO Jeff Hunsaker, and the general counsel Ryan Tibbitts. As per the filings, the company’s remaining staff will continue to go on with the long-running legal suits surrounding intellectual property rights issues against IBM and Novell.
It further quoted that the company looks forward to nail down details of revamping its business model, as well as to achieve the cash flow break-even by around the next month.
Furthermore, the company also revealed its plans to “raise additional funding” and sell its non-core assets to boost the working capital as much as it can.
The company’s fate has largely been rested upon the court’s decision on the lawsuits it has filed against the tech giants, and has apparently been failing to strike a lucrative revenue model to keep itself in a good shape.
SCO managed to get most of the tech industry giants against it as the company looked to challenge IBM and Novell a few years ago. It ultimately lost the battle and is now paying a heavy price. It doesn't come as a surprise that the man who was behind the strategy at that time is therefore sacked.