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| Yarro Exits Canopy Group |
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Tuesday, December 21 2004 @ 11:40 AM EST
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Ralph Yarro is no longer with the Canopy Group. The new CEO is William Mustard. Whether he is permanent or not is not yet clear. Darcy Mott is reportedly also out. No replacement has yet been named. Bob Mims of the Salt Lake Tribune has the story here [Update: no longer available for free at the Tribune, but you can verify the link by the extract on Linux Today here], including this interesting detail: "Sources within the Canopy corporate family reported that Mustard has been meeting this week with management of Canopy's numerous high-tech subsidiaries including Darl McBride, CEO of the controversial SCO Group."
I am told Bill Mustard comes from a consulting company called Smooth Engine. Their homepage says they do "Growth Consulting":
"Smooth Engine is an innovative and results-driven consulting firm that boasts an extraordinary team of former senior executives who come from a broad base of industries. The firm enables clients to become leaders in their field by empowering them with a wealth of management expertise, an impressive network of relationships and extensive experience achieving measurable, lasting growth." One of the things they do is provide interim, as well as permanent, executives. "Smooth Engine leverages this network to help clients fill certain management needs, on either an interim or permanent basis," is how they put it. The company was founded in 2001. There is a PDF on the company and the personnel you can borrow or hire on the Consultants page.
Here is Mr. Mustard's biographical info:
William Mustard, Managing Director
Bill Mustard is an experienced, commercially savvy, senior executive whose strong analytical skills and capabilities were honed in high growth, dynamic, international environments particularly in telecommunications and media.
Prior to joining Smooth Engine, he was a senior executive in the entrepreneurial Stenbeck organization, most recently as the President and CEO of the privately-held US investment holding company which he built from scratch developing businesses on both a domestic and international basis. Startups were incubated, acquisitions and disposals made, and, the consulting and business units spun out. Businesses covered the sectors of television and media, technology with military electronics and telecoms R&D, call center operations, computer network systems integration, telecoms consulting and billing systems, and, transactions processing.
Additionally, Bill ran the global risk management and financial investigative business for all of the Stenbeck group companies and developed corporate governance provisions including work related to Sarbanes-Oxley.
He has been responsible for the design and execution of complex cross border transactions including disposals, reorganizations, restructurings and financings.
Bill’s professional foundation is in finance having been educated as an economist and trained as a chartered accountant while practicing with Ernst & Young in the UK, USA and Europe. He has provided corporate advisory and investigative services, consultancy and audit services to international private and public companies." As for his prior work for the Stenbeck group, here is a 2001 article about Jan Stenbeck, who died the following year. Stenbeck Group is a Swedish company with some 250 subsidiaries worldwide. By the way, if you are wondering about the new Caldera icon on the SCO homepage, it's not *that* Caldera. Notice it says "Software for Imaging"? Blanchard Systems uses that logo and that phrase in connection with its graphics product. I told you today's teleconference was likely to be fascinating.
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| Authored by: maroberts on Tuesday, December 21 2004 @ 12:35 PM EST |
| Mean Mr Mustard comes to mind. [ Reply to This | # ]
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- The game - Authored by: jbeadle on Tuesday, December 21 2004 @ 12:43 PM EST
- The game - Authored by: DaveAtFraud on Tuesday, December 21 2004 @ 12:55 PM EST
- The game - Authored by: eggplant37 on Tuesday, December 21 2004 @ 02:14 PM EST
- The game - Authored by: Anonymous on Tuesday, December 21 2004 @ 03:42 PM EST
- The game - Authored by: Anonymous on Tuesday, December 21 2004 @ 09:23 PM EST
- Yabut - Authored by: Ed L. on Tuesday, December 21 2004 @ 12:44 PM EST
- Yarro Exits Canopy Group - Authored by: Anonymous on Tuesday, December 21 2004 @ 01:47 PM EST
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| Authored by: belzecue on Tuesday, December 21 2004 @ 12:37 PM EST |
| Carving a niche since 1783... [ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 12:37 PM EST |
Darcy Mott, Ralph Yarro, and Brent Christiansen were walked out of the Canpy
building Friday by Val Noorda, Ray Noorda's daughter. KSL News is reporting
there was some sort of fraud allegations and embezzelement coupled with the
serious problems with the SCO litigation.
It was also reported that the rest of the folks there have been told they are in
a holding pattern for the next 30 days until Bill Mustard decides which
direction to go. The SCO lawsuit is probably going to have a quick resolution.
[ Reply to This | # ]
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| Authored by: jbeadle on Tuesday, December 21 2004 @ 12:45 PM EST |
Do you suppose Ray Noorda got fed up with them??
-jb
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 12:46 PM EST |
| What is the source of this news? [ Reply to This | # ]
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| Authored by: belzecue on Tuesday, December 21 2004 @ 12:49 PM EST |
http://smallbiz.ksl.com/speak-9609i.php
-----
Canopy Group -- November 4, 2003
"Originally founded in 1995 in Lindon, Canopy Group continues to operate
under the hand of Ralph Yarro and Ray Noorda, former President and CEO of Novell
Corporation. Both have a high-risk orientation and share a love for the
technology environment.
Ralph tells me that Canopy Group has invested in more than 120 national and
international companies. No matter how many are working with Canopy, according
to Ralph, the firm is always adding new investments and looking for exits for
the old ones. Currently, 30 technology companies are in Canopy's portfolio.
In 2000, Canopy became a Utah exclusive investor. Ralph tells me most of their
significant exits have come out of Utah, and he doesn't think it's a
coincidence. He tells me Utah is a lush, fertile ground of great people with
great ideas. He also says Canopy Group has no reason to reach outside of Utah,
especially with such a great track record.
It looks like our dreamers are in good hands.
For Zions Bank, I'm Fred Ball. I'm speaking on business."[ Reply to This | # ]
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| Authored by: skidrash on Tuesday, December 21 2004 @ 12:51 PM EST |
and were told the new CEO is Bill Mustard.
the first report was Friday by one jj_franks.
No one believed him (new ID and all ...)
[ Reply to This | # ]
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| Authored by: raynfala on Tuesday, December 21 2004 @ 12:57 PM EST |
So would this news be their "wookie" for this quarter's conference
call?
--Raynfala
[ Reply to This | # ]
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| Authored by: tiger99 on Tuesday, December 21 2004 @ 01:02 PM EST |
| If any are needed. [ Reply to This | # ]
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| Authored by: geoff lane on Tuesday, December 21 2004 @ 01:04 PM EST |
OK, the obvious question is, Did he jump or was he pushed?
There will have to be a SEC filing for this, yes?
---
Invention and Innovation are not synonyms.
[ Reply to This | # ]
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| Authored by: webster on Tuesday, December 21 2004 @ 01:17 PM EST |
It is probably more than an "I want to spend more time
with the family" type of change.
Does Mr. Mustard have friends at IBM?
---
webster[ Reply to This | # ]
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| Authored by: nickieh on Tuesday, December 21 2004 @ 01:22 PM EST |
Could Mr. Mustard (in the study, with a candlestick - sorry, couldn't resist)
have been brought in to "put lipstick on the pig" in an attempt to
pretty it up to sell?
(a) Who'd take this turkey? I can't believe any company would voluntarily put
themselves in the gunsights of IBM, DC, etc., and I doubt at this point that
replacing the management would make a settlement any more likely. At this point
I think IBM, RHAT, etc. are deservedly out for blood.
(b) Could the concern in Canopy be that the Nazgul are getting too close to
punching through the corporate veil between it & SCOX? And want to jettison
it before that? [ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 01:25 PM EST |
Does this make it easier or harder for IBM to hold Yarro personally responsible
(presuming that he has been the mover behind all this nonsense)?
MSS[ Reply to This | # ]
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| Authored by: belzecue on Tuesday, December 21 2004 @ 01:26 PM EST |
So I guess this is the impetus behind the recent SCO change-of-control
agreement, otherwise known as the "No way, uh-uh, you can try to prize our
stock options out of our cold, dead hands" filing.[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 01:36 PM EST |
| ...It was Mr Mustard, in the Boardroom, with the subpeona. [ Reply to This | # ]
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| Authored by: rsteinmetz70112 on Tuesday, December 21 2004 @ 01:43 PM EST |
PJ,
What is the source of your information, I mean how reliable is it and where did
it come from?
---
Rsteinmetz
"I could be wrong now, but I don't think so."
Randy Newman - The Title Theme from Monk[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 01:46 PM EST |
LOL now they are trying to bring back references to Caldera in their business.
I think they are suffering from an identity crisis.
Perhaps they should just put a big question mark as their logo, with the slogan
"We'll get back to you when we figure out who we are and what we are
about."[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 01:56 PM EST |
| Bob Mims has an article up on the
Salt Lake City Tribune site saying that Yarro and Darcy Mott are out--and that
Mustard was meeting with Canopy company execs last week.
---Tim Rushing (aka
heimdal31) [ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 02:09 PM EST |
Changing leaders in mid-battle is a sign of a change in direction. Yarro is a
big card. Has he fallen?
Pressures have been building. The litigation has been ineffectual and the FUD
has been a flop. What's worse the piddling little Daimler Chrysler case has
been the most embarassing of all. Whatever happens that first week in January
is going to be a loss. What's worse Judge Chabot doesn't mess around and could
stick them with legal fees that would drain their IBM resources. They pass
every day in dread of a bomb dropping on them in Utah from Judge Kimball.
Litigating has become their only business. Even if they prove up some code,
there won't be any damages. Victory is delay, a declaration, and exclusive
rights to some passe code.
Mustard won't want to be held accountable for all that has happened so far. He
will have to disavow parts of this monetizing campaign. Expect a salvage
operation. He will try and settle, declare satisfaction, save some skins and
move on.
The only thing SCO has to offer is total cooperation in naming their cohorts in
this scheme. IBM will be most interested in Monopoly participation and other
deeeeep pockets.
[ Reply to This | # ]
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| Authored by: Latesigner on Tuesday, December 21 2004 @ 02:10 PM EST |
Someone should be crowing on the Yahoo SCOX board.
He said Yarro was out and he wasn't believed.[ Reply to This | # ]
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| Authored by: LarryVance on Tuesday, December 21 2004 @ 02:38 PM EST |
Article from
Network World a year ago attributes to Noorda
He also is said to
graciously let anyone make a mistake - as long as they get it right the second
time.
Maybe Yarro made more than one mistake.
---
NEVER
UNDERESTIMATE YOUR INFLUENCE!
Larry Vance [ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 02:47 PM EST |
This makes that "we are covering ourselves if there is a change of
ownership" filing make a lot of sense. The SCO execs probably knew about
the take over a couple of weeks ago and decided that they needed a saftey net if
the new Canopy CEO was not going to put up with their antics.[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 02:56 PM EST |
My best guess is that Yarro and Mott were terminated for signing the golden
parachute ("change of control pact") contract which had negative value
to SCO shareholders.
After all, in a change of control, what is the probability that the new buyer
would want to retain this crew, and why should the new buyer want to pay out on
this crew's stock and option plan. This makes the value of SCO that much lower
to the new buyer, directly harming the interest of Canopy.
The Golden Parachute appears to have been a giveaway to McBride et al., and as
such may have been good cause for termination of Yarro and Mott who approved
this action as Canopy's representative on the SCO board.
Just a theory, but the timing fits the facts.[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 02:57 PM EST |
My best guess is that Yarro and Mott were terminated for signing the golden
parachute ("change of control pact") contract which had negative value
to SCO shareholders.
After all, in a change of control, what is the probability that the new buyer
would want to retain this crew, and why should the new buyer want to pay out on
this crew's stock and option plan. This makes the value of SCO that much lower
to the new buyer, directly harming the interest of Canopy.
The Golden Parachute appears to have been a giveaway to McBride et al., and as
such may have been good cause for termination of Yarro and Mott who approved
this action as Canopy's representative on the SCO board.
Just a theory, but the timing fits the facts.[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 03:47 PM EST |
| Here is an interesting link.
Te
chnocrat.net
----------------
Steve Stites
[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 04:10 PM EST |
| Sounds like the end game. [ Reply to This | # ]
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| Authored by: phrostie on Tuesday, December 21 2004 @ 04:18 PM EST |
sounds like a slap on the hand while he moves off to the Caribbean. don't lose
focus. keep an eye on all the original players.
---
=====
phrostie
Oh I have slipped the surly bonds of DOS
and danced the skies on Linux silvered wings.
http://www.freelists.org/webpage/snafuu[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 04:32 PM EST |
The SCO numbers are out and they are not good. The key numbers are that Cash
(and near Cash) are $31,449 (000) after the provision for the legal fees. Buy
Accounts Payable (total) are now $23,034 so most of the existing cash is already
spent.
The latest Receivables have a collecion period of 72.8 days; this is up from
34.8 days a year ago. In other words, they are having a hard time collecting
from customers and there is not a lot of cash coming in. Fixed Assets (Plant
and Property) are down to minimal levels. They appear to have sold off
everything they could.
Looks like they need a new CFO.
Scorpio [ Reply to This | # ]
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- SCO Earnings - Authored by: frk3 on Tuesday, December 21 2004 @ 04:54 PM EST
- New CFO???? - Authored by: jbeadle on Tuesday, December 21 2004 @ 05:11 PM EST
- New CFO???? - Authored by: Anonymous on Tuesday, December 21 2004 @ 05:15 PM EST
- SCO Earnings - Authored by: Anonymous on Tuesday, December 21 2004 @ 05:45 PM EST
- SCO Earnings - Authored by: blacklight on Tuesday, December 21 2004 @ 06:25 PM EST
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 04:52 PM EST |
There seemed to have been a few questioning whether Yarrow was a victim of
circumstances or probably behind the litigation. The old Forbes
article seemed to make it clear:
I have a hard time distinguishing
them from the bunch of Novell board members, etc. who are as responsible for the
demise of WordPerfect as Microsoft ever was, who were against Norda's decision
to acquire WordPerfect, and caused disbanding the entire successful WordPerfect
sales channel. Their advice to the Novell Netware sales force was "You sell
WordPerfect like a Necktie... after they buy Netware [a suit], you ask them if
they would like anything else to go with it." Several years later, 80% of
WordPerfect sales were still coming in through the sales channels that Novell
had disbanded, and nothing at all was coming in through the Netware side,
because the board members who were opposed to Norda's decision had decided it
should get no support whatsoever, and it was sold in a fire sale to Corel for a
tiny fraction of the billions it had been worth.
This is why you won't
see me on Groklaw cheering either side of the Novell versus Microsoft, both of
whom were party to the homicide.
[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 05:20 PM EST |
"Smooth Engine is an innovative and results-driven consulting
firm..."
Whenever I see "innovative" used I tend to get suspicious.[ Reply to This | # ]
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- That word... - Authored by: Anonymous on Tuesday, December 21 2004 @ 05:24 PM EST
- Separated at Birth - Authored by: Anonymous on Tuesday, December 21 2004 @ 05:33 PM EST
- Huh? - Authored by: Anonymous on Tuesday, December 21 2004 @ 07:47 PM EST
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| Authored by: jim Reiter on Tuesday, December 21 2004 @ 05:38 PM EST |
Maybe the Noorda people are concerned that the TSG law
suits are not going the way that they (the Noordas) were
told the suits would go and they (the Noordas) want get
thing on track, whatever on track would be. I am sure that
the Noorda people have "other" attorneys looking at this,
probably visiting Groklaw, who are expressing concerns to
the family.
As for Yarro, the truth may have set him free. Don't
expect a thank you PJ.
You don't go to a fix the problem guy unless you think
that there is a problem.
I don't think that this is a natural career move for
Mustard. This is not a normal replacement for the position
Yarro held.
This is not a positive move for McBride. Unless Canopy has
serious problems else where that we are not aware of, this
is about TSG. [ Reply to This | # ]
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| Authored by: m_si_M on Tuesday, December 21 2004 @ 05:42 PM EST |
| Announcement here, early report
here
. [ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 05:46 PM EST |
: Caldera would be doing what SuSE is doing now, but with a $70 million head
start
: Canopy would be worth a lot more, and without a lot of Nazgul breathing down
it's neck, ready to pierce it's heart (or it's veil, whichever comes first)
: Lineo would be king of the embedded Linux space
: Trolltech would be twice the size
: LinuxNetworx would own the cluster world
: there would be a real high tech opportunity in Utah
: SCOG wouldn't have single handedly added 10 years of life to the term
"Utah, scam capital of the world"
: the local church investment arm wouldn't have a black eye, and the local
SEC, FBI, AG, and other authorities could stand to walk outside when the sun was
shining
: Darl would be a shepherd, with trusty assistants Blake and Chris. In other
words, not costing Canopy a penny
: Tibbets could have had a real lawyer job
: Yarro could have gotten a job where he was qualified, probably at the local
art barn
but then
: some idiots would still question whether the GPL is a valid license, whether
Linux infringes "I Pee", or whether any of the FUD the losers have
been tossing out was true
: the world would not have seen how slimey Microsoft financial support has
been, and their disdain for law
: the same world would not have paid attention to the cancer at the PTO and
Copyright offices, or EU patents
: the same world wouldn't have noticed when Sun slipped beneath the horizon,
nor cared about baloney blogs from the CEO and friends
: Linux would have improved just as quickly, but not as many people would have
noticed because it wouldn't have been in the news
: FireFox wouldn't have gotten 10+ million downloads in the first few days
after release, in part because people are fed up with junk Microsoft products,
in part becasue they are fed up with spoiled brat antics from Bill
: we wouldn't have gotten a first class education from PJ (or had a chance to
chip in for that red dress)
PJ, I hope you have the sequel to Groklaw defined: it looks like you're going to
need a new focus pretty soon. When the rats jump ship, the end is truly near.
[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 09:35 PM EST |
| I heard that new CEO guy shaves in the dark, trying to save paper. [ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, December 21 2004 @ 11:53 PM EST |
Yarro and Motte are gone from Canopy, but unless someone has another update,
still remain at SCO.
Dennis
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| Authored by: Anonymous on Wednesday, December 22 2004 @ 01:56 AM EST |
There is an article on Yarro here.
It's not entirely new but does contain a few goodies (not counting the picture
of the man), including these nuggets on his guiding principles in running the
Canopy Group:"Fight monopolies at any cost" And
this one:"Give good people good jobs". I guess the
founding family finally had enough of this helicopter... [ Reply to This | # ]
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| Authored by: jig on Wednesday, December 22 2004 @ 02:11 AM EST |
mustard is a hatchet man. i'm not saying this in an insulting way at all. he
knows what to cut and how to sell parts off lucratively. he can also dissolve a
company. the thing to look for is: who is buying?[ Reply to This | # ]
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| Authored by: Anonymous on Wednesday, December 22 2004 @ 06:35 AM EST |
| SCO's 'Linux Licenses' Flop, IBM Asks For An Extension From Maureen
O'Gara [ Reply to This | # ]
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| Authored by: Anonymous on Wednesday, December 22 2004 @ 12:50 PM EST |
http://www.smoo
thengine.com/company/03_01_smacaraeg.html
Prior to founding Smooth
Engine, Ms. Macaraeg was an investment banker, in the role of Vice President at
Deutsche Bank, previously Bankers Trust.[ Reply to This | # ]
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| Authored by: stormkrow on Wednesday, December 22 2004 @ 04:58 PM EST |
| Just what I'm guessing. With the Clues that I have. [ Reply to This | # ]
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| Authored by: Erin on Wednesday, December 22 2004 @ 09:59 PM EST |
Yes, but who did he do in? ;^). Forgive me, I have a fever...
---
e. tian (was williams)[ Reply to This | # ]
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| Authored by: Anonymous on Wednesday, December 22 2004 @ 10:47 PM EST |
The only thing I really want is Yarro, McBride, and fellow rats to pay. They
should pay very large. They should pay everyone. They can be examples
for all the rats in M$.[ Reply to This | # ]
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