Teradata has axed its co-president for data and analytics, meaning Herman Wimmer is out of a job.
In an SEC filing the company said it is exiting its marketing applications business so it "can focus exclusively on its core Data and Analytics business."
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This follows poor results in its third quarter.
The filing says Teradata has "decided to dissolve the co-president management structure." So it's going to focus on data and analytics and has meanwhile fired its data and analytics president, saying "he is no longer an executive officer." Sounds weird.
The SEC filing says "The Company and Mr. Wimmer are negotiating the terms of certain arrangements that will apply to his separation from Teradata."
CEO Michael Koehler has been named president and Bob Fair becomes COO. He was co-president for marketing applications, the business which Teradata is exiting, and so gets Wimmer's job. Is that fair?
Looking at what's happened to Herman Wimmer, short end and stick come to mind. ®