BEA CEO bids adios

New role for founder Coleman...

BEA Systems founder Bill Coleman is stepping down as CEO to become chief strategy officer of the software company. Current company president and chief operating officer Alfred Chung replaces him as CEO. Coleman's new role will see him oversee customer and employee relationships as well as corporate culture. He will remain a member of the board. Coleman founded CEA in 1995 along with former Sun Microsystems members Chung and Edward Scott. Coleman's said he aim while setting up the company was to retire from daily operations before his 55th year on earth and he has succeeded in this goal at 53. The company closed 79 cents higher after the news broke, at $10.80. This is 89 per cent lower than its 52-week high of $89.50. BEA is named after its three founders, Bill, Ed and Alfred.