November 26, 2008
Netezza Profits Double, CEO Leaves
Data warehouse appliance company Netezza Corp. of Marlborough said its third-quarter net income more than doubled to $3.5 million from $1.6 million for the same quarter last year.
The company also said that CEO Jit Saxena will resign effective Jan. 31. The board of directors has named president and COO Jim Baum to fill the position. Saxena will remain chairman of the board of directors.
The company did not disclose the reason for Saxena's departure in a statement and could not be reached for comment this morning.
The company's quarterly revenues rose to $50.6 million, from $33.4 million in the third quarter of last year.
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