Interwoven Inc., which provides content management software to businesses, has named Joseph L. Cowan chief executive officer, effectively immediately.
Cowan, 58, also has been made a director, the Sunnyvale, California-based company said in a statement today. He was previously chief executive officer of Manugistics Group Inc. (MANU:US) and president and chief executive officer of EXE Technologies Inc., according to the statement.
The chief executive officer position at Interwoven had been vacant since the retirement of Martin Brauns on March 31 last year. President Max Carnecchia led the company in the interim and will remain president, spokesman Randy Cairns said in a telephone interview.
Shares of Interwoven fell $1.50, or 8.9 percent, to $15.40 as of 4 p.m. New York time in Nasdaq Stock Market composite trading. They had increased 82 percent in the year before today.
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