Novell's Schmidt steps down as CEO following takeover

Novell's Eric Schmidt is stepping down as chief executive officer following his company's takeover of Cambridge Technology Partners (CTP).

Jack Messman, a founder and board member of Novell and the current CEO of CTP, will take over the role from Schmidt on completion of the acquisition. Schmidt will remain on the board as chairman, and will also take on a new role of chief strategist for the company which has suffered mixed fortunes since the beginning of last year, laying off 900 staff while experiencing five per cent drop in sales for 2000. Schmidt has held the post of CEO and chairman since April 1997 when he joined the company from Sun Microsystems.