CEO Decides 14 Years of Progress is Enough

The decision to retire should never be taken lightly, and when you are a top executive at a company you care about, the decision is only complicated. Worrying that the company will suffer when you leave may be a difficult fear to subdue. (Image courtesy: http://bit.ly/9DiHnd)

This week, Norman “Bud” Robertson announced that at the end of the year he will be leaving his roles as senior vice president and chief financial officer (CFO) at Bedford’s Progress Software. Robertson will leave after 14 years of service at the company.

“Though there never seems to be the perfect time to make these life choices, I feel that Progress is strong and well-positioned to move to its next milestone of growth. I feel fortunate to have been a part of this company’s impressive track record of success,” Robertson said in regards to his pending retirement.

Progress designs software for large companies that allows them to better analyze business processes and correct for such problems as bottlenecks. According to the company’s website, their software is used by just under 140,000 organizations, including 70% of the Fortune 500, and in over 180 countries. In February of this year, Progress expanded its reach by acquiring competitor Savvion Inc. for $49 million.

“Bud’s contributions have been critical in helping us grow from a small company to a much larger, more disciplined, global company,” Progress’s president and chief executive officer (CEO), Richard D. Reidy, explained. “We will manage this transition as a company on very solid footing, in large part, thanks to Bud’s talent and skill as CFO. We will continue to build on the momentum we’ve achieved during Bud’s tenure at Progress.” (Image courtesy: http://bit.ly/9DiHnd)

Robertson will continue to work at Progress until someone can be found to fill his roles. Even after he officially leaves the company, Robertson may continue to work with Progress as a consultant to alleviate any potential stress caused by the transition.

When leaving a position you have held for 14 years, it must be comforting to know that you have the support of your coworkers. Also, in some ways, I am sure that the transition period during which Robertson will ease his way out of Progress Software is just as much for the company’s good as it is for Robertson’s personal wellbeing.

[Sources: http://bit.ly/bgl2x3, http://bit.ly/bgl2x3]