The country’s largest maker of fundraising software has announced that its CEO will step down, says The Post and Courier. The announcement came about a week after 150 employees were let go.
Last year, the company bought its Texas rival, Convio, in an attempt to consolidate its control of the market and to build Blackbaud into a billion-dollar company, but its next quarterly earnings were less than expected. Among the reasons given were the slow economy and expenses related to the acquisition.
Mr. Chardon, a former Microsoft executive who has been with Blackbaud since 2005, will leave his post at the end of the year or whenever a successor is found, whichever comes first.
A company spokeswoman said Mr. Chardon’s departure is unrelated to the Convio acquisition. “It’s really just a shift of where the company is and where it’s going,” she said.