Compuware co-founder Karmanos steps down as CEO

Entrepreneur, philanthropist and Detroit booster Peter Karmanos Jr. is handing over the day-to-day reins of Compuware Corp., the research company he helped build, the company said Monday.

Karmanos founded Compuware in 1973, growing it from a few employees to more than 4,000 today and with annual earnings of more than $925 million. He led the company through worldwide expansion in the 1980s, a successful initial public offering in 1992 and a transition from the era of big mainframe computers to today's world of smaller, faster devices and cloud computing.

Prosecutors later revealed Karmanos and three other business leaders pooled donations to give Kilpatrick what they called a $240,000 loan to ease his departure from office. That hidden loan and other attempts to hide money that could have been part of his court-ordered $1 million restitution to the city put Kilpatrick in jail in 2010 on a probation violation.

He said last month that Compuware anticipates revenue and revenues per share growth in fiscal 2012 and at once spring may launch an initial public stock offering for its subsidiary Covisint.

19-year partner at Deloitte

He is a 19-year partner at Deloitte and has more than 25 years of experience providing tax, financial advisory and corporate finance services to customers. At Compuware, Angileri will oversee the finance, administration, legal and human resources operations of the business.