ATG Strengthens Management Team with Hiring of CFO; Software Industry Executive Edward Terino Joins ATG with Over Two Decades of Finance and Operations Experience.Business/Technology Editors CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sept. 25, 2001 ATG (Art Technology Group, Inc., NASDAQ: ARTG) today announced the appointment of Edward Terino as the company's Senior Vice President and Chief Financial Officer, effective October 1, 2001. Terino, 48, brings to ATG more than 20 years of finance and operations leadership experience, including the last five years in the software industry. He will play an integral role in ATG's finance and operations activities as well as facilitate strategic business development. Throughout his career, Terino has held a number of top management positions at global organizations including Houghton Mifflin Company and Deloitte & Touche. Most recently, he served as CFO at Applix, Inc. (NASDAQ: APLX), a global provider of customer analytics, customer relationship management (CRM) and business planning software. "Ed is an important addition to our management team and will play a key role as we focus our efforts on returning ATG to profitability," stated Jeet Singh, co-founder and CEO, ATG. "He is a strong leader and has exhibited vision, determination, and financial acumen throughout his career. Ed's experience working at large organizations and at public companies in the enterprise software sector will strengthen our ongoing efforts to increase efficiencies and maintain tight fiscal controls." "I am excited to join a company with ATG's outstanding technology and market opportunities," stated Terino. "I look forward to working with Jeet and other members of senior management on three primary objectives: to return ATG to profitability while preserving the company's cash position, to strengthen financial discipline across the organization and to help execute strategic business development activities to drive ATG's growth." Prior to joining Applix, Terino served as Chief Financial Officer, Treasurer and Secretary of Massachusetts-based Celerity Solutions, Inc. (OTCBB:CLTYE), a supplier of Internet-based supply and demand chain management software. He also brings more than 10 years of leadership experience in finance, planning and operations at Houghton Mifflin Company, a publisher of textbooks, instructional technology, assessments, and other educational materials for elementary and secondary schools and colleges. Prior to Houghton Mifflin, Terino spent nine years with Deloitte & Touche in Audit and Management Services capacities. Terino currently serves on the Board of Directors of EBT International (NASDAQ:EBTI), a Rhode Island-based provider of web content management software. He earned an MBA from Suffolk University and a B.S. in Business Administration from Northeastern University. About ATG ATG(R) (Art Technology Group, Inc.) provides an e-business software platform and applications for e-commerce, relationship management, and portals. Customers around the globe rely on ATG for the frontline applications that help build and manage mutually beneficial relationships with customers, partners, and employees. Deployed on the industry's most popular application servers, including the ATG Dynamo Application Server, ATG's integrated suite of Java(TM) applications is ideal for large-scale, rapidly evolving, and customized Web interactions. ATG and its network of more than 300 committed technology and solution partners deliver dedicated services for client strategy, implementation and support. Together, ATG and its global alliance network provide the e-commerce and relationship management capabilities that generate loyalty, drive sales, and empower the world's most recognized companies to realize the full potential of their online initiatives. Today, ATG has delivered e-business solutions to more than 770 companies worldwide including 3M, Abbott Laboratories, Aetna Services, Inc., Alcatel, American Airlines, AT&T, Barclays Global Investors, BMG Direct, Eastman Kodak, Ford Motor Credit, HSBC, J. Crew, Sun Microsystems, Walgreen Company, and WellsFargo. The company is headquartered in Cambridge, Massachusetts, with additional locations throughout North America, Europe, and Asia. For more information about ATG, please visit our Web site at www.atg.com 2001 Art Technology Group, Inc. ATG, Art Technology Group, the Techmark, the ATG Logo, and Dynamo are registered trademarks, and Personalization Server and Scenario Server are trademarks, of Art Technology Group, Inc. All other trademarks are the property of their respective holders. NASDAQ:ARTG This press release contains forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause ATG's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important risk factors affecting ATG's business generally may be found in their periodic reports and registration statements filed with the Securities and Exchange Commission. Risk factors related to the subject matter of this press release include the possibility that Mr. Terino may not remain at ATG; that he may not succeed at imposing financial controls; that the company may not return to profitability; and that the company may not grow. ATG undertakes no obligation to update any of the forward-looking statements after the date of this press release. |
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