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Technology Stocks : ASDV- Aspect Development-THE NEXT MSFT!
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To: chini who wrote (197)10/14/1998 11:40:00 AM
From: Capitalist  Read Replies (1) of 414
 
Their earnings looked great, and they said they aren't suffering a slowdown like some of the ERP vendors. The one thing that may be hurting is that their President and COO is stepping aside, and he was one of the founders of the company. I guess that's whats scaring investors off. I'm not so sure it justifies a 25% haircut in the stock though, I'm sitting tight though I've watched my profits dwindle to being just about even now. Here's the news:

>>Aspect president and COO, Joseph Prang, has returned to Aspect following his three-month sabbatical. In the interim, Aspect's executive team had stepped up to cover his responsibilities under CEO Romesh Wadhwani's leadership. Most of Aspect's current executive team have been working together for several years, and effectively shouldered the added responsibility.

''I am very pleased with the strength and depth of Aspect's management team,'' said Wadhwani. ''The performance of the quarter is testimony to how effectively the executive team managed during Joe's sabbatical.'' Prang will resume his duties as president and COO effective immediately. However, he has decided to eventually scale back his role in the company, ultimately taking responsibility for managing various Aspect strategic initiatives. Accordingly, the company has begun an executive search for a president and COO. ''Joe has been an outstanding contributor to our success,'' said Wadhwani. ''I'm pleased that Aspect will continue to have the benefit of Joe's experience and leadership.''<<

Good luck.
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