Descartes fires its CEO, reviews accounts
Descartes Systems Group Inc., the large Canadian provider of supply chain software, Thursday terminated the employment of its chief executive officer and president, Manuel Pietra.
The Nasdaq-listed company also said its revenues and loss per share for the three months ended April 30 would be worse than previous estimates, and that it will review its financial statements and provisions for the year ended Jan. 31.
Revenues and loss per share for the quarter ended April 30 will be “materially below the expectations” given by the company on March 10, Descartes said. At that time, Descartes indicated that it expected to achieve total revenues for the quarter in the range of $15.5 to $16.5 million and a loss per share of 11 to 13 cents.
In a short financial statement issued Thursday, Descartes did not say why it fired Pietra. It said Art Mesher, executive vice-president of strategic development, and Brandon Nussey, chief financial officer, will together assume the role of CEO of the company.