Progress Software (PRGS) -8.1% after announcing CEO Jay Bhatt is resigning as of Dec. 7, and...

|About: Progress Software Corporation (PRGS)|By:, SA News Editor

Progress Software (PRGS) -8.1% after announcing CEO Jay Bhatt is resigning as of Dec. 7, and withdrawing its guidance for FQ4 (Nov. quarter) constant currency Y/Y revenue growth of -2% to +1%. Phil Pead, previously non-executive chairman, has been named executive chairman while a search begins for a new CEO. (PR)