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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (21040)	3/12/1998 10:36:00 PM
From: E_K_S	Respond to of 42771

It look's like Mr. Raney has had a short stay in his last two positions....(10 month's at California Microwave and 12 month's at QAD Inc.) He started at California Microwave in May'96. This was a company in transition and in fact had declining sales in a shrinking market. Well after two bad quarters the CEO was fired in late December 1996. In January 1997, California Microwave hired J.P. Morgan (an investment banker) to shop the company around and Mr Raney then left for QAD Inc. sometime in February 1997. Here is QAD Inc. announcement of Mr. Raney's appointment. (http://www.qad.com/news/archive/970220.htm) Dated: February 20, 1997 Dennis R. Raney, Vice President, Finance and Administration, has 27 years of experience in finance, administration and operations. He joins QAD from California Microwave, a telecommunications company, where he was Chief Financial Officer. He was also CFO at General Magic, a developer of systems software, and Senior Vice President and CFO at Squibb Pharmaceuticals, a business unit of Bristol-Meyers Squibb. Raney spent most of his career - the first 23 years of it - at Hewlett-Packard in positions of increasing responsibility. As Director of Real Estate, he managed the company's $3 billion worldwide property portfolio. As Director of Finance & Administration for H-P Europe, he earned expertise in international fiscal matters such as currency risk management, customs and export, while also developing a common MIS system and a product distribution network. He gained further international experience with a stint in Singapore and another as Finance & Administration Manager for geographical regions spanning the globe. Raney holds an MBA from the University of Chicago and a BS in Chemical Engineering from the South Dakota School of Mines & Technology. ====================================================================== It's not clear as to what Novell's BOD is doing here. I would assume that the BOD must approve the CFO appointment. It is also interesting that all of this is occurring prior to the annual meeting set for Tuesday April 7, 1998. Does anybody think that Ernst & Young LLP will be ratified and if perhaps a new BOD audit committee will be appointed. After the meeting, Tuesday April 7 we should have more information as to what direction the BOD is moving. EKS