Interwoven Names Joseph Cowan Chief Executive Officer

Interwoven, which makes content management software, said it named an outsider, Joseph Cowan, as its chief executive, effective Monday.

Cowan, who was also named a director, replaces Max Carnecchia, who held the post for the past year and will continue as president.

Cowan, 58, most recently was chief executive of Manugistics Group, a global provider of demand and supply chain management software.

Last week the company said it is noncompliant with Nasdaq Stock Market listing rules due to its delinquent annual report. Interwoven has delayed its 2006 annual report while the company conducts an internal review of its historical stock option grant practices. Interwoven said in January its audit committee had started a voluntary investigation. The company said it will request a hearing from Nasdaq to stay the delisting, and will file its annual report after the review is complete.

Interwoven shares fell on the Nasdaq Stock Market.

Contact U.S. News


    Get the best of CNBC in your inbox

    › Learn More*

Don't Miss

U.S. Video

  • The U.S. economy is expanding at its fastest 6-month pace in over a decade. Breaking down U.S. economic data, with Ian Shepherdson, Pantheon Macroeconomics, and CNBC's Steve Liesman.

  • Discussing what's driving yields, and how to play equities now, with Steve Kroll, Monness Crespi Hardt and Company; Peter Andersen, Congress Wealth Management; Susan Fulton, FBB Capital Partners; Rob Morgan, V2V Associates; and Susan Fulton, FBB Capital Partners.

  • A U.S. Travel Association study forecasts Thanksgiving Day travel will have more than doubled between this year and last, and air travel problems in 2013 caused by poor infrastructure cost the U.S. $35.7 billion. Erik Hansen, U.S. Travel Association senior director, provides insight to the study.