Less than four months later Compuware Corp. Peter Karmanos Jr. has terminated his consulting contract and started another company.
Karmanos started Mad Dog Technology LLC this month according to documents from the Michigan Department of Licensing and Regulatory Affairs.
Little is known about the software company Birmingham. The website contains few details other than the company’s address: 233 Pierce St. in downtown Birmingham.
Calls to Mad Dog and an email to Karmanos were not returned immediately.
The building was acquired by in December for $ 500,000 Fuller Central Park Properties LLC. Bozeman Watch Co. The retail space on the first floor is currently being rented.
Ted Fuller, owner of Fuller Central Park, confirmed that a tenant had rented the office space on the second floor but declined to confirm that it was Karmanos’ business.
Karmanos co-founded Compuware in 1973 and served as Chairman and CEO for most of the years before that, until he retired in March 2013. Compuware kept Karmanos as a consultant.
However, the Compuware board canceled its six-year contract for $ 600,000 per year in October after making derogatory comments on the software company’s board.
Compuware was in the middle of a battle with the New York hedge fund Elliott Management Corp., which Compuware wanted to buy in a bid for $ 2.3 billion.
Karmanos was quoted in a story in the Detroit Free Press as saying, “The current management of Compuware needs to get their heads out of the ass and understand that they have more responsibilities than playing a silly game with some idiots in New.” York city. “
Elliott and Compuware have now reached an agreement that included restructuring and two new board members. The new plan provides for a reduction in the global workforce and other efficiency gains to save $ 110 million to $ 120 million.
Karmanos, on the other hand, filed a lawsuit against Compuware in November to seek back more than $ 5 million in lost salaries and stock options.
The case was dismissed on Jan. 17, and the two parties decide privately, said Karmanos’ attorney Kevin O’Shea, partner at Miller Law PC in Rochester. O’Shea declined to discuss details of the arbitration or Mad Dog technology.
Dustin Walsh: (313) 446-6042, [email protected]. Twitter: @dustinpwalsh