Company seeks right-sizing Struggling middleware and integration vendor Iona on Thursday announced major shakeups in its senior management ranks.At the request of the Iona Board of Directors, the following persons have resigned: Barry Morris, CEO since May 2000; Steven Fisch, COO, with the company since August 2002; and David James, executive vice president of corporate development, who joined in 1997.Company co-founder and Chairman Chris Horn takes over as CEO. Horn was the initial developer of Iona’s Orbix product and had been CEO until May 2000. Iona is based in Dublin, Ireland, with U.S. headquarters in Waltham, Mass. Iona board member Kevin Melia, former CFO of Sun Microsystems, has been appointed chairman of the Board of Directors.The company in making the changes is looking to “right-size,” a company representative said.A tough economy has plagued the company and the board wants to go in a new direction, the representative said. The company in April announced first quarter revenues of $17 million and a net loss per share of 36 cents. For the previous year, Iona reported revenues of $123.2 million and a pro forma net loss of $28.1 million, or 88 cents per share. Pro forma results exclude amortization of purchased intangible assets, stock compensation, restructuring, impairment of goodwill and intangible assets, write-off of fixed assets and the associated tax effect.Despite recent difficulties, Iona has $75 million in cash investments to target profitable growth for the future, according to Iona.Horn, in a prepared statement, said, “I have enjoyed the challenges of working with Iona, its employees, customers and its products. I feel it is time to move on to a new challenge. It has been a privilege to lead Iona to the height of its success and to manage the company in difficult market conditions.” Software Development