Baan Co., the struggling vendor of enterprise resource planning software, says company founder Jan Baan will no longer play a direct role in the company. Baan had resigned as the company's CEO in July, saying he would serve on Baan's supervisory board, but Baan officials now say he has withdrawn his name from consideration.
Jan Baan has decided "to pursue other interests full-time," company officials say. Industry observers say Baan's impending departure was hastened by the company's slumping sales and the revelation of questionable accounting practices earlier this year. In its most recent financial quarter, Baan reported a net loss of $31.7 million.
Jan Baan will still have an indirect relationship with the company. He remains the majority shareholder of Vanenburg Ventures, an independent organization that funds a number of subsidiaries that act as resellers of the Baan software suite.
The company says it will schedule a special meeting of shareholders in early 1999 to nominate new members for its board.