Software modeling tools developer Rational Software Corp has announced that Robert Bond is stepping down from his position as chief operating officer and chief financial officer, effective following the company’s January board meeting. It shouldn’t come as much of a shock. The Cupertino, California company has seen its shares lose nearly 60% of their value since mid-September and has been slapped with two class action law suits after reporting a second-quarter net loss of $64.6m in October (CI No 3,270) down from net profits of $10.5m last year. Timothy Brennan, currently vice president of finance and administration, will assume the responsibilities of chief financial officer. Joseph Marasco, currently a VP and general manager in Rational’s product development organization, will assume the position of senior VP, Operations. Bond will remain with the company in a non-executive role to assist with the transition and to handle special projects. Rational shares dropped $1.125 to close at $10.125 on Tuesday.
