SAGENT ANNOUNCES CHANGES TO EXECUTIVE MANAGEMENT TEAM
MOUNTAIN VIEW, Calif.—July 25, 2002—Sagent (Nasdaq: SGNT), a leading provider of enterprise business intelligence solutions, today announced key changes to its executive management team: Effective immediately, Andre M. Boisvert, Sagent’s chairman, will assume the chief executive role on an interim basis. Boisvert, former president of SAS Institute and a software technology industry veteran, brings more than 25 years experience in the business intelligence sector to Sagent. Ben C. Barnes has stepped down as Sagent’s chief executive officer to pursue other activities.
Effective immediately, Steve Springsteel will become chief operating officer of the company in addition to his chief financial officer duties. Additionally, Springsteel will be joining the Sagent board of directors. Springsteel will be responsible for overseeing all aspects of the company’s operations, which includes finance, development, sales, and marketing operations. Springsteel was formerly executive vice president and chief financial officer for the company and has more than 20 years of experience in senior financial and operational management of both public and privately held high-tech companies. Prior to joining Sagent, Springsteel was chief operating officer of NOCpulse.
John Maxwell will become executive vice president and general manager of the Americas and Asia-Pacific. In his former role as vice president and general manager of Sagent’s Asia-Pacific operations, Maxwell drove eight consecutive quarters of growth. Maxwell has more than 15 years of senior sales and financial management experience and strong track record of success in developing and executing sales and marketing strategies.
Steve Walden will take on the role of vice president and general manager for Sagent’s Centrus product division. Walden was vice president of channel development for Sagent and formerly vice president of marketing at QMSoft, prior to its being acquired by Sagent. Walden has over 10 years of experience in the data quality and geographic information systems sectors.
The executive management team also includes Arthur Parker, executive vice president and general manager of Sagent EMEA; Rich Ghiossi, chief marketing officer; Larry Scroggins, senior vice president of business development; Mike Hemmert, vice president of product development; and Ken Bendix, vice president of professional services.
“There is no doubt that the software industry as a whole is getting battered during these challenging economic times. The board and I are confident that these recent management changes will better position the company to effect positive change and to emerge as a stronger player well poised to capitalize on opportunities when the upturn occurs,” said Andre Boisvert, chairman of the Sagent board. “On a personal basis, though the task at hand is challenging, I am convinced that the management team and employees of Sagent are as committed as I am to the company’s success.”
Further details about the management changes and operating results for the quarter ending 6/30/02 will be discussed on Sagent’s scheduled July 30 earnings conference call. In order to participate in the July 30 conference call, please dial (888) 736-2857, or for international participants, dial (706) 645-0320, by 1:30 p.m. PT. Callers will need to reference the pass code #4961505. A replay of the call will be available starting two hours after the completion of the conference through August 9, 2002. In order to access the replay, please dial (800) 642-1687, or for international participants, dial (706) 645-9291, and reference pass code #4961505. Access to a live Web cast of the conference call will also be available on www.sagent.com.
Sagent provides a complete software platform for business intelligence, enabling companies to reduce operational costs, increase profitability, and improve customer relationships. Sagent employs a unique business intelligence life-cycle process that facilitates the rapid development of custom analytic solutions and helps bridge the gap between business users and IT. Through its technology, services, and business expertise, Sagent simplifies business intelligence for more than 1,500 customers worldwide. Sagent customers include: AT&T, Boeing Employees Credit Union, BP Amoco, Carrefour, Citibank, GPU Energy, Guinness UDV, Heineken, Kawasaki, Kemper National Insurance, La Poste, Novartis, NTT-DoCoMo, Sara Lee, Siemens, and Singapore Telecom.
Sagent technology is also embedded in multiple partner solutions that address the needs of specific vertical and functional application areas; key ISV partners include Advent Software, Hyperion, and HAHT Commerce. Sagent technology has been adopted by leading regional and global systems integrators, such as Cap Gemini Ernst & Young, Satyam, and Unisys, to address customer needs within their business intelligence practices. In addition, Sagent has built alliances with numerous technology vendors to cooperatively market solutions; alliance partners include Microsoft, Business Objects, and Sun Microsystems. Sagent is headquartered in Mountain View, California. For more information about Sagent, visit www.sagent.com.
This press release contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally preceded by words that imply a future state such as "expected" or "anticipated" or imply that a particular future event or events will occur such as "believe" or "will." Investors are cautioned that all forward-looking statements involve risks and uncertainties, and those actual results could be materially different from those discussed in this press release. Risks that could cause actual results to differ include, among others: (1) a worsening of global economic conditions, (2) a continued slowdown in spending on information technology (IT), (3) lower than expected demand for Sagent products, (4) Sagent's ability to continue the relationships described herein, (5) the ability of Sagent products to meet customers' needs and expectations, and (6) the other risks described in Sagent's annual and quarterly filings with the SEC, copies of which are available without charge from Sagent or on the Securities and Exchange Commission's website at www.sec.gov.
Sagent and Sagent Solution are trademarks of Sagent Technology Inc. All other trademarks are the property of their respective owners.
Jason Rzepka senior account manager atomic tech pr / san francisco firstname.lastname@example.org p: 415.703.9454 f: 415.703.9463 c: 415.244.3000