Peregrine Shifts Remedy Unit, Execs

E-commerce software maker Peregrine Systems Monday announced sweeping changes to both its management and product lineup.

The San Diego-based firm is in the middle of restating nearly three years of financial results and an SEC investigation.

Nearly a month after former CEO Steve Gardner and CFO Matt Glass left the company, Peregrine said it has hired Gary Greenfield as its CEO to fill the position held on an interim basis by acting CEO Rick Nelson.

Greenfield previously served as president and CEO of Rockville, MD-based MERANT , an e-business development solutions company, and as advisor to private venture capital firms JMI Equity Fund and Lazard Technology Partners.

Peregrine also said it intends to operate its Remedy product family as an independent unit. Larry Garlick will manage this independent unit and report to Peregrine’s board of directors. Garlick was the co-founder, chairman and CEO of Remedy Corp., which was acquired by Peregrine in August 2001. Since then, he has served as a member of the company’s board of directors.

The company said it would give out more details on the operation of the independent unit at a later date.

In addition, Peregrine also announced that Rod Dammeyer has resigned from the board of directors for personal reasons. Dammeyer was the chairman of the company’s audit committee of the board and a member of the board’s executive committee. The company is actively evaluating candidates to replace him as a member of the audit committee.

The company said it accepted the resignation of Peregrine’s senior vice president and general counsel, Eric P. Deller. At the company’s request, Deller has agreed to remain with Peregrine through the completion of its internal investigation and to assist with the transition of his legal responsibilities.

Kathy Vizas was named to serve as the company’s acting general counsel. Vizas previously served as associate general counsel for both Raychem and Levi Strauss. Her responsibilities will include conducting a search for a new general counsel for Peregrine following the completion of the internal investigation.

Peregrine offers products and services in infrastructure resource management, employee relationship management (or self-service) and e-commerce technologies and services.

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