July 13, 2007

2 Senior Executives Leaving Blackbaud

Kyle Stock  /  The Post and Courier

Blackbaud Inc., the Charleston-based software maker, said Thursday that two of its senior executives are taking management positions at other technology firms.

Christopher Todd, senior vice president of sales, and Richard "Brad" Braddock Jr., senior vice president of marketing, will step down at the end of the month, according to the company. Dennis Maxwell, vice president of marketing, will take Braddock's job, and two sales managers under Todd will now report to Chief Executive Officer Marc Chardon.

"They are at the age where, if you want to be a CEO, you've got to take the next step," Maxwell said. "Both of them see a good opportunity for themselves."

Todd, who joined the company in 2000, a few years after earning a law degree from Yale University, is taking an executive job at Kronos Inc., a Massachusetts-based software firm. Braddock, who has a Harvard MBA, was hired by Blackbaud in 2003, after a string of marketing positions at various software and IT companies. He is taking the reins of a small tech startup called Linescale Inc. Both men took home between $440,000 and $471,000 last year in salary, stock and stock options.

Maxwell joined the Daniel Island firm a year ago after a long career that included 18 years at General Electric Co. Blackbaud also said it will report second-quarter revenue and income at or slightly above its previous guidance.

The company, which employs 1,400 workers, had estimated that it would book between $61 million and $63 million in revenue for the three months ended June 30. Blackbaud will report its earnings after the market closes Aug. 6. Shares of the company climbed $1.14, or 5.2 percent, in heavier-than-normal trading Thursday on Nasdaq.