Blackbaud's 1st ever "Official" Layoffs - 200 people so far
CEO has a history of being the hatchet man ... making up in costs what is lost in sales (blaming "execution issues" and "sales-force disruptions"?). Don't see any history of creating new products in that past either - just acquire/manage/cut. He's been there a while ... maybe he'll be the next "dead wood" the Board discovers?
Pretty obvious he had to go. Was in the position too long, and his "vision" became damaging. BOD took a long time to pull that trigger.
It is interesting that it is taking so long to find someone who will take the CEO job now that 95% of the "buy-able" competition has been bought, the new products are still poorly integrated and the primary product line is stale (5 or 6 years on RE).
... how long before SalesForce steps in ... ?
Tough job for the new person ... and most of the upper upper management team is new (especially to fundraising) ... we'll see.