Business Engine Forms New Company, Appoints New CEO; New Company Purchases Assets of Old Company, Announces New Customer Wins and New Product.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Business Engine, the leading provider of application software solutions for running the business of IT, announced today that it has formed a new company, and appointed Mark Strauch as President & 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. . The new company - which has acquired the assets of the old company and will continue to operate under the name Business Engine - has also announced that it will be releasing a new product in October codenamed "Cascade". "Cascade" simplifies process governance, compliance and management decision-making and will be formally unveiled at Business Engine's upcoming Global User Summit in Orlando, FL September 25-27, 2005 (www.beglobalsummit.com).
In conjunction with the transaction, the new company has received a $4 million investment. Participating investors include Oak Investment Partners, Technology Crossover Ventures, and Morgan Stanley To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Venture Partners. The new company also welcomes Merritt Lutz, Advisory Director, Morgan Stanley Information Technology, to lead Business Engine's Board of Directors as Chairman.
"Mark has shown exceptional acumen in formulating and executing Business Engine's corporate vision and business strategy as 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. ," said Lutz, Chairman of Business Engine's Board of Directors. "He has been instrumental in leading our customer focus and his dedication and vision have won the full confidence of the board to lead the new Business Engine as CEO."
"I am excited about the future of Business Engine. We have seen an increase in recent customer wins in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. including State of California and in Europe with a large German insurance company. We are fortunate to count as customers some of the most successful and blue-chip references in our market," said Strauch, President & CEO of Business Engine. Strauch joined Business Engine in January 2001 and has since held several management positions including chief operating officer and executive vice president and general manager of Europe, Middle East & Africa.
Over 400 global IT organizations, including financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. leaders Capital One, Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/) (ISIN: DE0005140008, NYSE: DB) (English: German Bank , Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. , Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. and ING, rely on Business Engine to improve business performance, manage regulatory compliance initiatives, and ensure IT governance. With the Business Engine Network application suite, customers efficiently manage IT strategy, financial governance and operational execution, creating enterprise transparency that dramatically improves investment decisions, business alignment and results.
About Business Engine
Established in 1985, Business Engine is a leading provider of enterprise software for 'running the business of IT'. The Business Engine Network allows global IT organizations to manage IT strategy, financial governance and operational execution within a single Web-based solution, creating enterprise transparency that dramatically improves IT investment decisions, business alignment and delivery results. Business Engine serves over 80,000 end-users at global organizations including 20 Fortune 100 customers such as Boeing, Lehman Brothers, Merrill Lynch, Northrup Grumman, Pfizer, and Siemens. Please visit www.businessengine.com for more information.