Systems integrator Agilysys last week eliminated three top executive positions to save on corporate overhead and streamline budgets. According to Agilysys, the positions of executive vice presidents Robert J. Bailey and Peter J. Coleman and senior vice president of IT and operations Jeff Levine have been axed. The trio reported to Arthur Rhein, who retired last week as president and CEO and stepped down as chairman. Agilysys has said it will not fill the now-vacant positions.
"As a result of our emphasis on reshaping and streamlining this company, it has become clear that we no longer can afford the corporate overhead that was anticipated to support our previous growth target," said Agilysys president and CEO Martin Ellis. "As a result, we are restructuring corporate SG&A to improve operating performance, deliver sustainable earnings growth and position the company for the future."
Agilysys said it has set a strategic objective of realigning overhead infrastructure with current market realities. In addition to $17 million of expenses eliminated as a result of cost-reduction initiatives earlier this year, the company has identified further opportunities, including a management realignment and headquarters consolidation.