I2's Brady resigns, Sidhu becomes CEO
DALLAS, April 15 (Reuters) - I2 Technologies Inc. (NasdaqNM:ITWO - news), a developer of software that links companies with their business partners, said on Monday that former Chief Executive Officer Greg Brady has resigned for personal reasons.
Sanjiv Sidhu, i2's current chairman and the founder of the company, will take Brady's place as CEO, the Dallas-based company said.
The move comes at a time when i2 and its rivals in the software industry are suffering from cutbacks in corporate information technology budgets.
``The past 18 months have been challenging for i2 and others in the enterprise software arena, as overall corporate (information technology) spending has been significantly constrained,'' said Sidhu.
Brady, who joined i2 in 1994, will remain in an advisory position at i2 and continue as a member of the board.
He did not give details of his future plans. |
