Bill Wood Assumes Leadership of Gensym's Worldwide Sales Operations.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Nov. 5, 1998--Gensym Corp. (Nasdaq:GNSM), a leading provider of software and services for intelligent operations management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. , today announced that Bill Wood, Senior Vice President, Communications Business Unit and Corporate Marketing, will also assume leadership of worldwide field operations, a position he had previously held in an interim capacity. In this new role, Bill Wood replaces Stephen Quehl, who has resigned from the Company. Lowell Hawkinson, Gensym chairman and chief executive officer, stated "Bill Wood joined the Company about two years ago with a mission to establish a business unit in the rapidly growing telecommunications market. Bill has achieved outstanding success in growing this new business unit's revenue from $7.2 million for the first nine months of 1997 to $11.0 million for the first nine months of 1998. He also, as head of corporate marketing, has clarified and strengthened Gensym's leadership in intelligent operations management, where the Company's G2-based application product families directly support unique and highly valuable solutions to mission-critical operational problems. Bill Wood's assumption of his new responsibilities for worldwide field operations will further unify and focus Gensym's business going forward. Before joining Gensym, Bill was vice president and general manager of North American Operations North American operation Surgical oncology Radical surgery of a 'frozen pelvis', consisting of radical en bloc resection of the uterus and urinary bladder. See 'Frozen pelvis.'. Cf 'All-American' and 'South American' operations. for Integrated Systems Management, a software division of Groupe Bull Groupe Bull (also known as Bull Computer or simply Bull) is a French computer company based in Les Clayes-sous-Bois, outside Paris. The company has also been known at various times as Bull General Electric, Honeywell Bull, CII Honeywell Bull . Prior to that, he was an executive with Candle Corporation, where he helped grow the business profitably from $25 million to $215 million in eleven years. During that period he carried a number of responsibilities ranging from managing national sales and worldwide marketing to establishing and managing several new business ventures. Bill's experience also includes sales and marketing responsibilities with IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Corporation, Xerox Corporation, GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) Telenet Communications Corporation, and Taylor Instrument Company. Founded in 1986, Gensym Corp. is a leading supplier of software and services for intelligent operations management. Common applications include quality management, process optimization, dynamic scheduling, network fault management, energy and environmental management, and abnormal situation management The Abnormal Situation Management (ASM) Consortium is a long-running and active Honeywell-led research and development consortium of 13 companies and universities that are concerned about the negative effects of industrial accidents. . Gensym has sold more than 10,000 product licenses to organizations in manufacturing, communications, aerospace, transportation, finance, and other industries. Based in Cambridge, Mass., Gensym has offices in North America, Europe, Africa, and the Pacific Rim. Visit Gensym on line at http://www.gensym.com. This document contains certain forward-looking statements as that term is defined in 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. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, fluctuations in customer demand, intensity of competition from other solutions vendors, timing and acceptance of new products, and general economic and industry conditions, as well as other risks included in the Company's quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 1998, as filed with the Securities and Exchange Commission and available on the Web at http://www.gensym.com. Gensym Corp. assumes no obligation to update the information contained in this press release. The condensed con·dense v. con·densed, con·dens·ing, con·dens·es v.tr. 1. To reduce the volume or compass of. 2. To make more concise; abridge or shorten. 3. Physics a. consolidated statements of operations and condensed consolidated balance sheets consolidated balance sheet A balance sheet in which assets and liabilities of a parent company and its controlled subsidiaries are combined, thereby presenting balance sheet items for the parent and its subsidiaries as if they were a single firm. are attached. |
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