SCO bins chief exec and restructures

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Troubled SCO has made further efforts to turn the company around from its current Chapter 11 status by getting rid of its former chief executive and selling off assets.

SCO, which has been involved in a long-running legal battle regarding UNIX, today announced that Darl McBride had been terminated from its employ. In addition, SCO said it would finalise additional restructuring plans and “reach cash flow break-even" in the next month.

As a result, further Chapter 11 turnaround efforts and legal fights will be lead by the remaining management team headed up by chief operating officer Jeff Hunsaker.

"These actions, while difficult, are essential to SCO becoming a more agile and efficient company, not just for this year, but for years to come," Hunsaker said in a statement.

"This restructuring plan reinforces SCO's ability to continue to sell and support its products while servicing the needs of our customers and partners on a worldwide basis through the stabilisation of our financial situation."

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