Corporate Software, a pioneer in software licensing and asset management dating back to the early 1980s, has gone back to square one.
In a series of moves starting last summer, Howard Diamond is once again heading up day-to-day operations, reclaiming his title of CEO and chairman.
Diamond left those duties behind two years ago when he took the helm of Rebar, which owns Corporate Software. But as Rebar's fortunes faded early last year, Diamond decided to return to Corporate Software. Scott Armor, who had been named president of North America when Diamond left, is now gone. Marc Chatel, who had assumed the CEO duties in Diamond's absence, remains on the board.
A handful of other executives were cut, he said.
"It's back to basics," Diamond said. "I was pretty unhappy with the results in the first half and stepped back in as CEO. After spending a few months looking at what we were doing and how we were doing it, it was clear we'd gotten too bureaucratic [with too many senior executives who always wanted to cut at the lower levels."
Founded in 1982 as a private company, Corporate Software went public in 1987, and two years later was taken private again. In 1995, it merged with the Global Software Services unit of R.R. Donnelley to form Stream International. A few years later, management bought the company back and reconstituted Corporate Software.