Micro Focus appoints Waters as CEO

Micro Focus has turned another page in its restructuring plan by appointing its third chief executive in two years, prompting its share price to drop by 142.5p yesterday.

The company has appointed former CEO of Platinum Solutions Martin Waters, following the resignation of CEO Marcelo Gumucio, just one month before it announces its latest quarter results.

Waters, who will be based in the company's California offices, is said to be more focussed on professional services and client/server solutions, a direction which Micro Focus started to take last year, following Gumucio's appointment.

Gumucio arrived at Micro Focus last year and instigated the company's restructure away from its reliance on COBOL tools and towards Year 2000 solutions, legacy solutions and enterprise client/server.

"We were really chuffed to read that the departure was "by mutual agreement" because it reflected the intention of the group to shift its emphasis from products to supplying services," said Richard Holway, software and services analyst and publisher of the Holway Report.

Gumucio returns to his family investment business, Gumucio, Burke and Associates. His departure is not expected to affect the company's results which company chairman of the board J Michael Gullard said "are consistent with our expectations and our plans for the year."