AremisSoft Announces Management and Board Changes.Business Editors NEW YORK--(BUSINESS WIRE)--July 19, 2001 -- Appointment of Paul I. Bloom to President of US Group -- Appointment of Robert Johnson as Executive Vice President of Corporate Development -- Retirement of Info-Quest Executives from Board of Directors AremisSoft Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AREM AREM All-Random Easy Mode (gaming, Dota Allstars) AREM Avian Richness Evaluation Method ), a leading international supplier of enterprise-wide software and Internet-enabled solutions for the manufacturing, hospitality, healthcare and construction industries, today announced the appointment of Dr. Paul I Paul I, 1754–1801, czar of Russia (1796–1801), son and successor of Catherine II. His mother disliked him intensely and sought on several occasions to change the succession to his disadvantage. . Bloom as President of the US Group. This change is designed to position its US based business for future growth. Previously, Dr. Bloom was Executive Vice President of Corporate Development. As President of the US Group, Dr. Bloom will focus on managing an increasingly diverse enterprise application software business. Commenting on the appointment, Roys Poyiadjis, Co-CEO, stated, "Paul Bloom Paul Bloom (1963–) is a Professor of Psychology at Yale University in New Haven, Connecticut. As an undergraduate he attended McGill University, and he attended graduate school at the Massachusetts Institute of Technology. has worked closely with me on developing and implementing our US business expansion. We now have a substantial software business, which is managed out of the US. We felt it was important to bring further management resources to this operation in order to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the tremendous opportunity we see for significant expansion through internal growth and acquisitions. Paul has extensive experience participating in the growth of numerous software companies which should be invaluable as we move forward." Stated Paul Bloom, "I am excited about the potential at AremisSoft to build a world class software company. We believe that AremisSoft is at the forefront of the globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation of the application software industry and is uniquely positioned to build on the business base we have established. I look forward to working with Roys in managing the strategic direction and execution of the business." AremisSoft also announced the appointment of Robert Johnson Robert Johnson may refer to:
The process by which the corporation communicates with its investors. activities. Bob Johnson has 20 years experience in high technology as an analyst on Wall Street. Previously, Mr. Johnson was a research analyst at ABN Amro covering enterprise software for 10 years. Mr. Johnson received an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from the Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. . Commenting on the appointment, Paul Bloom stated, "Bob Johnson comes to AremisSoft highly recommended as an experienced and thoughtful technology professional with the right mix of talents and experience to assist AremisSoft in building a long term business of significant value." AremisSoft further announced the resignation of Ioannis Malamas and Georgios Papadopoulos from the AremisSoft Board of Directors. Mr. Malamas and Mr. Papadopoulos represented Info-Quest interests on the Board of Directors. Their departure reflects a shift in Info-Quest's growth strategy. About AremisSoft Corporation AremisSoft develops, markets, implements and supports enterprise-wide applications software targeted at mid-sized organizations in the manufacturing, healthcare, hospitality and construction industries. The Company's software products help streamline and enhance an organization's ability to manage and execute mission-critical functions such as accounting, purchasing, manufacturing, customer service and sales and marketing. AremisSoft reported total revenue of $123.6 million for the twelve months ended December 31, 2000 and pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma net income of $29.2 million for the same period. AremisSoft has approximately 1,300 employees, with sales in over 20 countries and a customer base in excess of 8,000. The Company also operates a software development and support facilities in India, with approximately 300 employees, which provides significant organizational efficiencies and cost advantages in software development and support. Cautionary Statement for Purposes of the "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: All statements, other than historical facts, included in the foregoing press release regarding the Company's financial position, business strategy, and plans of management for future operations are "forward looking statements." These statements are based on management's beliefs and assumptions, and on information currently available to management. Forward looking statements include, but are not limited to, statements in which words such as "expect," "see," "anticipate," "intend," "plan," "believe," "estimate," "consider," or similar expressions are used. Forward looking statements are not guarantees of future performance. They involve risks, uncertainties, and assumptions, including risks discussed under "Risk Factors" in the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , SEC File No. 0-25713, all of which are incorporated herein by reference. The Company's actual results and stockholder values may differ materially from those anticipated or expressed in these forward looking statements. Many of the factors that will determine these results and values are beyond the Company's ability to control or predict. Readers of this press release are cautioned not to put undue reliance on any forward looking statement. The Company undertakes no obligation to publicly update these forward looking statements, whether as a result of new information, future events or otherwise. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion