News
News
5/31/2002
10:21 AM
Connect Directly
RSS
E-Mail
50%
50%

I2 Blocks Access To Some At Annual Meeting

The supply-chain management software vendor discussed its financial results for 2001 and the replacement of CEO Greg Brady during the shareholders meeting.

Supply-chain management software vendor i2 Technologies Inc. blocked a group of people from attending an annual shareholders meeting Thursday in Dallas, where the company discussed its bleak financial results for 2001 and the first quarter of this year, as well as the replacement of CEO Greg Brady by former CEO Sanjiv Sidhu.

I2 says the group that was refused entry into the meeting may have included potential shareholders, stockbrokers, and the news media. Shareholders with voting cards were permitted into the meeting.

Following the meeting, the company issued a statement saying that i2's policy requires nonshareholders to make arrangements in advance if they want to attend the meeting. The company says such precautions ensure a secure and efficient meeting. A Wall Street Journal reporter who was denied entry said i2 didn't give any indication before the meeting that reporters or others would need to make prior arrangements to attend.

For 2001, i2 posted a loss of $7.95 billion on revenue of $985.6 million. The loss was largely because of a $7.6 billion amortization to write down intangible assets for the acquisition of Aspect Development Inc. in 2000. For the first quarter this year, ended March 31, i2 posted a loss of $57.76 million on revenue of $168.41.

Comment  | 
Print  | 
More Insights
The Business of Going Digital
The Business of Going Digital
Digital business isn't about changing code; it's about changing what legacy sales, distribution, customer service, and product groups do in the new digital age. It's about bringing big data analytics, mobile, social, marketing automation, cloud computing, and the app economy together to launch new products and services. We're seeing new titles in this digital revolution, new responsibilities, new business models, and major shifts in technology spending.
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek Tech Digest - September 17, 2014
It doesn't matter whether your e-commerce D-Day is Black Friday, tax day, or some random Thursday when a post goes viral. Your websites need to be ready.
Flash Poll
Video
Slideshows
Twitter Feed
InformationWeek Radio
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.