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Informix chairman quits

Informix chairman Phil White quit yesterday after losing the firm's top job last week and three months after announcing a shock $140 million loss.

The maker of server database software, which is expected to make another loss this week, said new CEO Bob Finocchio will replace White in the chairman's seat.

"Now that we have Bob Finocchio in place as CEO, I agree with the board that the company is best served with one clear leader to take a new view of the company's direction," White said in a prepared statement.

"They really wouldn't want to add anything," said a spokesman for Informix in the UK.