Informix brings in fresh blood for CFO
INFORMIX, A COMPANY that has struggled with its financial operations in recent years, Wednesday appointed a chief financial officer who is new to the software industry.
Yon Yoon Jorden has joined the database and tools company as CFO and executive vice president, the company said in a statement issued Wednesday. She previously held the same two titles at Trumbull, Conn.-based Oxford Health Plans, a company providing health plans to employers and individuals in New York, New Jersey, and Connecticut. Prior to that, Jorden was senior vice president and CFO of Wellpoint Health Networks, in Thousand Oaks, Calif.
"Her experience as the chief financial officer of large publicly traded companies and in building strong relationships with the financial and investment community will be a great asset to Informix as we increase stockholder value," Informix Chief Executive Officer and President Jean-Yves Dexmier said in Wednesday's statement.
Informix is gradually pulling out of rough financial waters with the company's first fiscal 2000 results released in April being fairly upbeat, largely due to growth in sales of its Web-based software offerings.
The database and tools vendor is slowly turning around its fortunes after a string of disastrous financial years caused by a lack of focus in the company's direction. Informix settled private securities litigation toward the end of last year and reached a settlement with the U.S. Securities and Exchange Commission in January. The SEC charged that Informix had fraudulently inflated revenues and earnings between 1994 and 1997 -- allegations that Informix neither admitted nor denied.
The turnaround is the work of Dexmier, who in July of last year replaced Bob Finocchio as Informix CEO and president. Dexmier had previously served as company CFO and executive vice president of field operations.
Charles Kane, Informix's interim CFO, has quit the company to join Corechange as chief operating officer. Corechange, in Boston, develops enterprise information portal software. Kane joined Informix when the vendor acquired Ardent Software, where he was CFO. He was instrumental in effecting the integration of Ardent with Informix, according to the company. Informix announced it would acquire Ardent, a specialist in data warehousing software, for $880 million in December of last year.