Taking Stock - Vos the big secret?
It has emerged that troubled accountancy software specialist Baan has recently appointed a new chief financial officer.
TS naturally wants to extend its best wishes to chartered accountant Peter Vos, in what is likely to be a challenging role.
However, as he begins his new job, he can at least rest in the knowledge he cannot do any worse than some former members of the finance team who were in place before it was sold to Invensys.
Readers may recall how TS revealed last year that the company had taken its eyes off the ball sufficiently that it managed to lose two whole offices.
The incidents took place when the software provider attempted to sell off its subsidiary CODA to Science Systems. However it was unaware it had an office in Sydney and another in Italy.
Baan even had to be supplied with a telephone number of the Sydney office to verify its existence. An insider said: ‘Baan had not given the impression they were people in control of their operations.’ You have to wonder what else Science Systems found once it actually sealed the deal.
But commenting on the appointment, Baan president, Laurens van der Tang, said: ‘Baan is now operating as part of the Invensys Software and Systems division so we’re part of a larger organisation, with a strong corporate foundation on which to build and grow.’
Presumably the company will grow even further as it now realises what assets it has. TS wonders whether Vos is likely to encounter any further hidden treasure.