GBS CEO steps down

by Volker Weber

Mr. Ott said, "The Company has entered into a new phase of growth with robust trans-Atlantic operations which require full time attention. Personal reasons are preventing me from devoting this full time attention to the Company's operations. Therefore, I have decided to step down as the CEO of GBS Enterprises."

Mr. Ott remains Chairman of the Board.

Mr. MacDonald commented, "On behalf of the board, I would like to thank Joerg for his contribution as CEO. I look forward to working together closely as we further develop and establish the strategic direction of the Company."

This is the stock for GBS Enterprises Incorporated and GBS Business Software over the course of the last twelve months.

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Comments

I wonder if the timing of the announcement is meant to cushion the release of an annual report that seems to be overdue. If the trends have continued, the 4th quarter and annual numbers for their year are not going to be pretty. Their prior announcement of estimated annual revenue of $33 million dollars is meaningless, as revenue does not even remotely equate to profit.

Thomas Duff, 2012-07-12

Well, I recently reported on the German annual report. 13.5M EUR loss, with a large charge on the value of their own developments.

Who wants to be next on the Lotusphere backpack?

Volker Weber, 2012-07-12

That would be in the same vicinity of what I expect the US report to be...

Thomas Duff, 2012-07-12

Volker - both of the iOS Stock App images appear to be the same. Am I missing something?

Bruce Elgort, 2012-07-12

Ah ha - the second chart is for the German stock.

Bruce Elgort, 2012-07-12

I see you got your glasses. :-)

Volker Weber, 2012-07-12

"Who wants to be next on the Lotusphere backpack?"

Nice...very nice...

Michael Bourak, 2012-07-12

After losses of 13 million Euros, the terminations must come next?

Xavier Boulanger, 2012-07-17

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