Beyond.com Appoints John Barratt as Chief Operating Officer; New COO Brings 31 Years of Management Expertise to E-Commerce Services Provider.Business Editors/High-Tech Writers SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug. 1, 2000 E-commerce services provider Beyond.com(TM) (Nasdaq:BYND) today announced the appointment of industry veteran John Barratt to the newly-created role of Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the company. Barratt will be responsible for managing major elements of Beyond.com's daily operations, and for overseeing the policies and practices of the company. Barratt's appointment is pending approval of his visa, as he is a Canadian citizen. Barratt brings more than 31 years of general and financial management experience to Beyond.com, complementing the company's business-to-business (B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business ) e-commerce services strategy. Previously, he served as partner in residence from 1996 to July 2000 for the Quorum Group of Companies, an international investment partnership specializing in providing debt and/or equity capital to the emerging growth high technology sector. During his employment, Barratt held a number of senior level management positions, including executive vice president, chief operating and financial officer and corporate secretary at Cygnet cygnet a young swan. Storage Solutions, DynaTek Automation Systems, and Home Products Group of Companies. Prior to that, Barratt was executive vice president and chief operating officer of Coscan Development Corporation from 1995 to 1988. He began his career with Lloyds Bank/Continental Bank/IAC Limited, rising, during his 19-year tenure, through numerous management roles, up to deputy chief executive officer. "John brings tremendous senior level business and financial management experience in technology, banking and finance to Beyond.com, and I will be pleased to have him as my right-hand man," said Ron Smith, member of the board and soon to be CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Beyond.com. "His leadership experience greatly enhances our management team, and we look forward to him making process improvements that will benefit both Beyond.com and our eStore clients." "I am thrilled at the opportunity to join this management team at such an exciting time," said Barratt. "Beyond.com has the operational experience, robust infrastructure and technology know how to become a leader in e-commerce services, and I look forward to initiating new processes to fulfill this goal." Barratt holds a bachelor of commerce The Bachelor of Commerce is a bachelor's degree in business management, accounting and economic fields. The degree is also known as the Bachelor of Commerce and Administration (BCA). and business administration, finance and marketing from the University of British Columbia Locations Vancouver The Vancouver campus is located at Point Grey, a twenty-minute drive from downtown Vancouver. It is near several beaches and has views of the North Shore mountains. The 7. . He completed the Sloan School of Management's senior executive program at the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, in 1985. About Beyond.com Beyond.com(TM) is an e-commerce services provider that builds, manages and markets online stores for businesses. The company also sells software and computer-related products to consumers and U.S. Government agencies. The company's BuyDirect Group provides eStores by Beyond.com, a suite of services that enables software developers, systems OEMs and hardware manufacturers to market and sell over the Internet. Beyond.com's Government Systems Group provides digital distribution of software and related services to a growing list of U.S. Government agencies, including the Bureau of Engraving and Printing Noun 1. Bureau of Engraving and Printing - the agency of the Treasury Department that produces currency Department of the Treasury, Treasury Department, United States Treasury, Treasury - the federal department that collects revenue and administers federal (BEP), Defense Logistics Agency Noun 1. Defense Logistics Agency - a logistics combat support agency in the Department of Defense; provides worldwide support for military missions Defense Department, Department of Defense, DoD, United States Department of Defense, Defense - the federal department (DLA DLA dog leukocyte antigen. ), Internal Revenue Service (IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. ), National Imagery and Mapping Agency (NIMA), Office of Thrift Supervision The Office of Thrift Supervision (OTS) was established as a bureau of the Treasury Department in August 1989 as part of a major Reorganization Plan of the thrift regulatory structure mandated by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C.A. (OTS) and Patent and Trademark Office (PTO). Beyond.com Corporation trades on the Nasdaq National Market under the symbol ("BYND"). More information on the company can be found in the company's filings with the Securities and Exchange Commission ("SEC"). Safe Harbor Statement Certain statements in this press release are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This includes statements relating to expectations about John Barratt and Ron Smith being employed at Beyond.com. Such statements are subject to substantial risks and uncertainties, including the risks that certain employees of Beyond.com, including Barratt and Smith, are unable to obtain permission to work in the United States. Beyond.com's business is subject to risks including reductions in or cancellations of customer orders, changes in relationships with software suppliers, changes in relationships with strategic partners, changes in the product mix sold by the company, increased competition, inability to raise sufficient capital on satisfactory terms, or at all, and other factors described in the company's filings with the SEC. There can be no assurance that the company will achieve profitability. |
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