In those very early days, one of my mentors told me that the chief responsibility of a CEO to his staff is to improve the CV of each and every staff member during their tenure with the company.
It’s a principle I tried to uphold during my two terms, and 12 years, as CEO of IONA. I certainly don’t claim a 100% success rate, but I honestly feel very privileged to have worked with each IONAian over the years since 1991, and sincerely hope that each and every career immensely benefited as a result. There are, and have been, wonderful people at
When Software AG wrote a formal letter to the Chairman of IONA earlier this year, they triggered under Irish corporate law a lengthy and delicate process which has eventually resulted in today’s announcement. During the process, a large number of companies were contacted, which resulted in a shorter list of potential bidders. These included both trade companies, and private equity houses, who were then each invited to undertake detailed due diligence, including face to face meetings with the executive team and myself as a major shareholder and Board member.
Ultimately, a number of formal bids were made. The IONA Board, after careful consideration and detailed professional advice, have decided to recommend the Progress offer to our shareholders. Many factors weighed on that decision, heavily complicated by multitude of requirements under Irish, European and
I have known Joe Alsop for many years. I have no doubt that he feels the same responsibility I held when I was (twice) CEO, to improve the CV of each and every staff member during their service with the company.
I sincerely believe that there is a wonderful opportunity in the global enterprise middleware sector, and – assuming the deal is ultimately approved later this year - I fully encourage the combined Progress and