Mark Chardon, the CEO of IT provider Blackbaud, has resigned and will leave the organisation at the end of August.
Blackbaud has appointed Anthony Boor, who is currently VP and CFO, as acting CEO with immediate effect, until a permanent replacement is found.
Boor, 50, served as VP and CFO at Brightpoint prior to joining the company in 2011.
Andrew Leitch, chairman of the Blackbaud Board of directors, said: "Tony has a deep understanding of our business, product portfolio and strategic priorities. He has helped set the overall strategy for the company, and under his leadership we have delivered solid financial results, enhanced operational efficiencies and positioned the company for improved long-term revenue growth."
Chardon is said to receive severance benefits of 24 months' salary, pro rata share of his cash bonus and 18 months of health benefits.
His resignation comes after he laid off 150 staff and after the company's worse-than-expected financial results following the purchase of Texan rival Convio.
Mr Leitch added: "On behalf of the Board and everyone at Blackbaud, I am appreciative of Marc Chardon's outstanding leadership and contributions over the last seven years and his efforts to ensure the leadership succession at Blackbaud is successful. We wish him well in his future endeavours."
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