Siebel ousts CEO Lawrie after warning on sales

SAN FRANCISCO -- Troubled software maker Siebel Systems ousted Michael Lawrie as CEO on Wednesday, days after it warned that quarterly sales would be the lowest in five years.

Longtime company board member George Shaheen, a former CEO at Andersen Consulting (now called Accenture) and defunct online grocer Webvan Group, replaced Lawrie.

"This is all about improved and acceptable performance," Siebel Chairman Tom Siebel said Wednesday. The board said Lawrie, 51, stepped down by mutual agreement.

During the same conference call, Shaheen, 60, said Siebel was examining ways to cut costs and make better use of its $2.2 billion in cash, including potential acquisitions. Siebel is a takeover target because it has ample cash, a low stock price and a coveted customer base, said software analyst Alan Pelz-Sharpe of consulting firm Ovum.

"It's not like we have fallen off the charts," said Shaheen, who offered few details on his ...