ClickSoftware co-CEO resigns after 2 months

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BURLINGTON, Mass. (AP) - ClickSoftware Technologies Ltd. said Tuesday that its co-CEO Hannan Carmeli is resigning from the business software company after just two months in the job. The company said that it is reverting back to having just one CEO.

The board of directors determined that having two leaders was "not practical," said Chairman Israel Borovich.

The company's founder, Moshe BenBassat, will continue as CEO.

Carmeli joined ClickSoftware in 1996. He held a number of different jobs before being promoted to co-CEO in June. At the time, the company said that having two CEOs would accelerate growth.

In a statement Tuesday, BenBassat said that ClickSoftware has signed "several" new contracts during the third quarter, including two deals for new customers that will use its cloud-based products.

Shares of ClickSoftware, which is based in both Israel and Burlington, Mass., slipped 10 cents to $6.78 in afternoon trading Tuesday. Its shares traded as low as $6.54 on Aug. 21. They traded as high as $9.14 in May.