i2 says 'bye' to its CEO

NEWS The CEO of i2 has stepped down just a day before the company is due to report its first quarter results. Greg Brady replaced i2 founder Sanjiv Sidhu as CEO last May, and had been president of the company since 1994. Sidhu, who quit as CEO to assume the role of chairman, will resume CEO responsibilities. The company also said its president of US sales is leaving the company. i2 recently lowered its first quarter expectations on the back of poor sales. Revenue is now expected to be between $165m and $175m, down sharply from the $356m it posted a year ago and from the $186m predicted by analysts. Quarterly losses are expected to be seven to eight cents per share compared with a profit of two cents a share in the same quarter last year.