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Sybase Expected to Announce New Division

September 22, 1998|Bloomberg News

Sybase Inc., the No. 4 database software maker, is expected to announce that it will create a division for its laptop and remote device software, according to sources familiar with the company. The company is also expected to announce that President and co-Chief Executive John Chen will assume the CEO title by himself and that Chairman and co-Chief Executive Mitchell Kertzman will become chairman. The move has been anticipated since Chen was named co-CEO with Kertzman on Feb. 26. Analysts said Chen was brought to the company in August 1997 to rebuild the sales force, win new customers and regain investors' confidence. The creation of a mobile and embedded software division and the CEO shift could lift investors' perceptions about the company and raise the profile of Sybase's fastest-growing business. Sybase shares, which reached a high of $57 in June 1994, have since lost about 89% of their value. The Emeryville company's shares rose 19 cents to close at $6.06 on Nasdaq.

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