ON Technology Appoints Steven
R. Wasserman as Vice-President of Finance and Chief Financial Officer
Experienced Financial Executive
to Focus on Increasing Shareholder Value
MA, January 8, 2001 – ON Technology (NASDAQ:
ONTC), a leading provider of remote software delivery
solutions, today announced that the Company has appointed
Steven R. Wasserman as Vice-President of Finance and
Chief Financial Officer (CFO).
Mr. Wasserman brings over twenty
years experience managing corporate finance, mergers
& acquisitions, financial planning, financial analysis,
and accounting. He has worked with several Wall Street
investment banks to raise capital as well as transact
mergers & acquisitions.
Most recently, Mr. Wasserman held
the position of Vice-President of Corporate Finance
at The Pioneer Group, a $250 million global financial
services company. While at Pioneer, Mr. Wasserman was
a key member of the senior team that sold the company
to UniCredito Italiano.
Prior to joining Pioneer, Mr. Wasserman
worked at GTECH Holdings Corporation, EG&G Inc.,
and National Medical Care in a series of senior financial
management roles. He holds an MBA degree from Babson
College and a BBA degree from the University of Michigan.
Mr. Wasserman has also spoken at
several investment management conferences and was a
key member of the management team at EG&G that implemented
EVA™ (Economic Value Added), a value-based financial
management and incentive compensation system focused
on maximizing the creation of shareholder value.
"We are thrilled to have Steve
on board," said Robert L. Doretti, Chairman, President
and CEO of ON Technology. "In addition to his extensive
financial experience, Steve is a seasoned business professional.
We're expecting him to help us continue growing revenues
while carefully managing expenses to achieve profitability
- and hence grow shareholder value. His significant
Wall Street relationships and experience in raising
capital will also be a big plus for the company."
About ON Technology Corporation
ON Technology empowers IT organizations and service providers to manage the full lifecycle of their computing systems over large-scale corporate networks. Our solutions are used to rapidly and reliably deploy critical applications, operating systems, and content to desktops, mobile PCs, handhelds, servers, retail point-of-sale (POS) terminals and banking workstations. Our customers leverage our solutions to significantly reduce IT costs, improve availability and reliability of business-critical applications, and enhance both IT and end-user productivity. ON’s management solution has been chosen by more than 1,000 enterprises worldwide to manage in excess of 1.2 million networked computer systems. For more information visit ON Technology’s Web site at www.on.com or call 800-767-6638.
Gerald Kimber White
Allen & Caron Inc.
ON Technology, ON Command, and ON Command CCM are registered trademarks, and the ON logo and ON iCommand are trademarks of ON Technology Corporation. Microsoft and Windows are either registered trademarks or trademarks of Microsoft Corporation in the United States and other countries. All other brand names and trademarks are properties of their respective owners.
The statements in this press release that relate to ON Technology’s future plans, events and performance are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve a number of risks and uncertainties. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, including the current weakness in the global economy, demand for the Company’s products and services, performance of the Company’s direct and indirect distribution channels, competitive pressures, market acceptance of the Company’s new products and technologies, and the risk factors detailed from time to time in ON Technology’s periodic reports filed with the Securities and Exchange Commission, including without limitation the Company’s Quarterly Report on Form 10-Q for the third quarter of 2003 filed in November 2003. Actual results and performance may differ materially due to these and other factors. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. ON Technology undertakes no obligation to release publicly any updates or revisions to any forward-looking statements contained in this press release that may reflect events or circumstances occurring after the date of this press release.
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