CDC Software, a wholly owned subsidiary of CDC Corporation (CHINA), will form a new board of directors, separate from the CDC Corporation board, to focus on key growth initiatives and help the organization to become an independent, standalone company.

The company also announced senior management team promotions in key areas including product direction, mergers and acquisitions, global services, sales and marketing.

Peter Yip, vice chairman of the board for CDC Corporation will serve as executive chairman of the CDC Software board. John Clough, a board member and chairman of the executive committee for CDC Corporation will serve as vice chairman of the board for CDC Software.

New responsibilities for current management team members include Eric Musser, now chief technology officer and executive vice president of corporate strategy; Joseph Dworak, executive vice president of global business services; Mark Carlile, vice president and managing director of the European, Middle East and Africa (EMEA); Per Norling, president of IMI; and Scot McLeod, senior vice president of global marketing and corporate communications.

"Our growth plans for CDC Software are aggressive, and the formation of a separate board of directors will be a key enabler of success," said Yip. "For the next two years, we have set a goal to more than double the size of the company, through both organic growth and targeted acquisitions, to an annual run-rate of $500 million in revenue. Our targeted areas for growth will build on our current specializations and core competencies in customer relationship management (CRM), extended enterprise solutions for process manufacturing, and value-add business services. As we continue to build and grow, we will also position CDC Software to become an independent, standalone company. This move will help us further improve our specialist focus for the benefit of our customers, enhance our competitive position in the enterprise software-solutions marketplace, and unlock potential value for our shareholders."