Siebel founder to step down

Rethink IT, June, 2004

Tom Siebel, founder of CRM software house Siebel Systems, is stepping down as CEO, though he will remain as chairman and advisor to the CEO The new head is Michael Lawrie, who was group executive for IBM's sales and distribution.

Though a colorful figurehead, Tom Siebel has not always been popular with investors, and has courted controversy in various areas of corporate governance such as high options.

"Mike Lawrie is the single best choice to lead and take Siebel Systems to the next level, and expand Siebel's CRM market leadership to drive significant growth throughout the next decade," he said.

Last year Tom Siebel agreed to surrender about 26m in stock options, at the time worth about $56m, as the company came under fire for granting him high levels of stock compensation.

At IBM, which has become a closer ally of Siebel in the past year; Lawrie is replaced by Doug Elix, formerly head of global services, whose position is taken in turn by CFO John Joyce. That role is taken by Mark Loughridge.

IBM said it regularly shifts its top executives around and that the latest change reflected its need for greater "integration within our company".