Tibco Software's CFO to leave later this month

Tibco Software CFO departing company to join startup

Associated Press

PALO ALTO, Calif. (AP) -- Tibco Software Inc. said Monday that its chief financial officer will leave the company later this month to join an unidentified startup.

The business software maker will temporarily fill the void created by CFO Sydney Carey's departure with Murray Rode, who oversees Tibco's finance department as the company's chief operating officer.

Carey, 48, will remain with Tibco until April 19 so she can certify the company's fiscal first-quarter results, which were released last month. She joined the Palo Alto, Calif., company as its controller in 2004 and was promoted to CFO four years ago.

Tibco reported last month that its fiscal first-quarter earnings fell 54 percent from the same time last year to $9.5 million.

The company recently has been attracting attention because its CEO, Vivek Ranadive, has agreed to become the lead investor in a bid to buy the Sacramento Kings and prevent the team from moving to Seattle under the proposed ownership of a group that includes Microsoft Corp. CEO Steve Ballmer.

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