Cayenne Software Inc announced the resignation of president and chief executive Peter Boni. The Bedford, Massachusetts supplier of modeling, database design and development tools, says Boni, a turnaround specialist, is stepping down after completing a four- year transition term that saw the company (formerly Bachman Information Systems Inc) shift from an outdated mainframe product line to a fresh group of object-oriented and client/server development products. Cayenne says the products introduced under Boni – many acquired through the merger with Cadre Technologies Inc which formed Cayenne – have restored software license revenue growth and fostered a growing customer base. Chief information officer and board member John Alexander has been named interim CEO while Cayenne searches for Boni’s permanent replacement. The company also says it expects to post fourth-quarter sales of around $13m, up 15% from the third quarter – however the bottom line will be hit by a charge of $1m for the write-off of mature software products and a $300,000 charge related from the company’s move of its headquarters from Burlington to Bedford. Cayenne says it is still too early to tell whether the charges will leave it with a net loss, but that it wanted to take the charge in the fourth quarter to clear the decks for the clear profits it expects in fiscal 1998. In October, Cayenne reported minimal net income of $61,000 on revenue down 14% at $11.3m, against a loss of $6.9m a year earlier (CI No 3,272).
