SCO reorganization plan includes new CEO, board, Mar 05, 2008

The SCO Group Inc.'s plan to emerge from bankruptcy calls for Darl McBride to step down as chief executive officer, and a new board of directors will be named.

"There are positives around the revenue and operating income coming in higher than expected, and you have Linux doing well," said James Gilman, an analyst at Soleil Securities Corp., who rates the shares "sell."

In its ongoing litigation against International Business Machines Corp., the SCO Group Inc. on Monday said IBM hurt SCO's relationship with several high-tech powerhouses, causing SCO's market share and revenues to plummet.

The SCO Group wants to push back the trial date of its high-profile lawsuit against International Business Machines Corp. by five months, but IBM says the delay is unwarranted.

During a hearing Tuesday before U.S. District Judge Dale Kimball, each company accused the other of foot-dragging. Brent Hatch, an attorney for Lindon-based SCO, said the litigation has featured "a lot of procedural posturing," "gamesmanship," "a considerable amount of jockeying" and "big-firm games."

Kimball said he would rule in a few days on that and another motion argued Tuesday. The trial is scheduled to begin in April.