Mounting losses force out Borland boss

Business software company Borland is to replace its chief executive officer after reporting worse than expected quarterly results.

The company will announce its results for the quarter ending in June on 2 August, but has already warned that sales and losses will be worse than originally forecast.

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Borland said sales would reach no higher than $67m (£36.2m); it had previously predicted sales of up to $73m. Projected losses would therefore be higher, said Borland.

Following the results update, the company said that Dale Fuller “had stepped down” as president and chief executive officer of the company. Borland’s chief operating officer Scott Arnold has replaced him as interim CEO. Fuller will remain on the board.

Borland is now looking for a permanent replacement. The company said Europe was of particular concern when it came to sales of its main application lifecycle management products.