According to a company statement, Watson has been replaced as president and CEO by Robert Beauchamp, but is to remain with the company until April 2001 in an "advisory capacity".
The new team is expected to strengthen the company's position, which some analysts have seen as solid, but seesawing in the unpredictable economic climate. BMC upgraded expectations for the 2001 fiscal third quarter while others posted profit warnings, and reported better-than-expected fourth-quarter results for 2001, showing a 10% revenue increase over the previous quarter to $422.8m (£294.9m). However, the company is still underperforming compared with previous years.
BMC hopes that Cupp's appointment will help the company to maintain momentum into the new fiscal year, said Beauchamp.
Cupp joined the company board in 1989 and was, most recently, the chairman of the Compensation Committee. He has held executive posts at American Express and McDonnell Douglas Automation, and is the chairman of Apex Mortgage.