Wednesday, Jan 23 2013
News and Analysis
CEO Marc Chardon will leave Blackbaud at the end of 2013 or earlier if the company can find a successor. According to the official statement from the Charleston, S.C.-based nonprofit vendor "Following his departure, Mr. Chardon intends to pursue business interests advising and investing in technology start-ups and devote more time to the philanthropic community."
I'm glad that I reported at the end of 2012 that the Blackbaud board of directors had eased Chardon's noncompete should he leave the company by making it apply only to the United States. Chardon has spent seven years on the job, so it's likely he's earned a change of scenery. Chardon has dual U.S.-French citizenship so he also has some options. With Chardon's departure, Blackbaud goes from a group of executives with lots of years in their positions to a much less-tenured group. In November 2011, the company hired Anthony W. Boor as CFO to replace Timothy V. Williams, who retired after 10 years on the job. Blackbaud also said it expects non-GAAP revenue for the quarter ended December 31 to be within its guidance of $119 million to $121 million and within or above its guidance of $19 million to $20 million for non-GAAP EBIT (yes, EBIT, not EBITDA).
Last modified on Sunday, 16 June 2013