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News Breaks | | | | January 25, 2013 | | 07:36 EDT |  | CPWR | Compuware launches 3-year cost reduction program of at least $60M
Compuware Corporation announced that its Board of Directors, after thorough analysis with its independent financial and legal advisors, completed its comprehensive review of the company’s alternatives and approved an action plan to realize the inherent value of Compuware for its shareholders. In connection with this analysis and review, the Board also unanimously concluded that Elliott Management Corporation’s proposal to acquire all of the outstanding shares of Compuware for $11.00 per share significantly undervalues the company and is not in the best interest of shareholders. Compuware actions include: Launching a 3-year cost reduction plan that will eliminate at least $60M in G&A and non-core operational expenses from the company, with a minimum of $20M realized in FY14. The company expects that additional opportunities to rationalize and reduce costs and focus its business will be available as it continues to execute the plan. | |
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| June 5, 2013 | | 16:44 EDT | | CPWR | Compuware CFO Laura Fournier retires
The company disclosed in a regulatory filing that on May 30, Laura Fournier, the Executive Vice President and CFO of Compuware retired from the company. Her retirement from all positions held with the company will become effective on June 14, 2013. Joseph Angileri, the company’s President and COO, has been appointed by the board to serve as the company’s CFO, effective June 15. Mr. Angileri, 55, joined the company in June 2011 as President and COO. | |
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