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Technology Stocks : Siebel Systems (SEBL) - strong buy?

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To: JakeStraw who wrote (6948)4/14/2005 8:57:36 AM
From: Jagfan  Read Replies (2) of 6974
 
Resigned or fired?
Siebel fires chief executive

CEO LAWRIE REPLACED BY BOARD MEMBER, FORMER WEBVAN LEADER

By John Boudreau

Mercury News

Siebel Systems, the business-software maker that has struggled over the past three years, Wednesday abruptly fired Chief Executive J. Michael Lawrie, whom it had brought in just 11 months ago to succeed founder Tom Siebel at the company's helm.

Company board member George T. Shaheen, the former CEO of online grocer Webvan -- who presided over one of the most spectacular failures of the dot-com era -- was tapped to replace Lawrie, a 26-year IBM veteran who joined Siebel Systems in May.

The latest upheaval was greeted with skepticism by some analysts and investors. It came just a week after San Mateo-based Siebel Systems warned that first-quarter results would fall well short of investor expectations.

mercurynews.com
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