Marc Chardon, Blackbaud Blackbaud CEO Marc Chardon is cleaning out his share holdings in the maker of not-for-profit software. He sold 307,463 shares of the Charleston, S.C.-based company this month for an aggregate of $10.7 million, which he purchased by the exercise of options of $7.6 million. Chardon is leaving the company as soon as a replacement can be found and sold another large block of shares, 148,974, in May after the exercise of options. 

There is no indication from the company of a successor being named soon, but perhaps Chardon's sale is a signal. It will be interesting to say where he might surface. Earlier this year, the company amended his contract to amend the noncompete provisions to give him the right to take a competing job outside the United States.

Last modified on Friday, 16 August 2013
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