Syncronys Softcorp says that it has now secured the financing it needed to reorganize itself back out of Chapter 11. In doing so, the PC utilities company finally loses its chief executive officer, Rainer Poertner, and chairman of the board and executive VP of marketing Daniel Taylor. Poertner was CEO of the Culver City, California-based company through its disastrous recall of the SoftRAM memory maximizer product in 1995, which saddled the company with debt and affected its credibility. Poerner will, however, stay on as a consultant to management, along with Taylor. Syncronys filed for Chapter 11 last month with $4.7m in debt (CI No 3,458). Management responsibilities go to Walter Doyle, the new chairman and CEO. He will focus on releasing the current set of PC utility products, which are in the final stages of development, and plans to acquire software products and internet-related companies in order to broaden the product line.
