CDC Software Board Members Appointed to Key Corporate Governance Positions.New Committee Appointments on Board of Directors to Assist in Managing Future Growth of CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation Software BEIJING & ATLANTA -- CDC Software, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CDC 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 : CHINA) and a provider of enterprise software applications and services, today announced it has appointed two board members to positions in corporate governance as part of its preparation for CDC Corporation's potential carve-out of CDC Software. John Clough, vice chairman for CDC Software's Board of Directors, will serve as chairman of the Audit Committee and will oversee the company's audit and financial reporting processes, internal controls and risk management systems. Tom Manning will serve as chairman of the Compensation Committee and assist the Board in reviewing and approving executives and directors' compensation and supervise the administration of the company's equity incentive plans. As vice chairman of the Board for CDC Software, John Clough helps guide corporate strategy and company growth, focusing on the expansion of global sales channels. Mr. Clough is also a board member and chairman of the executive committee for CDC Corporation and serves as a special advisor to General Atlantic LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Mr. Clough brings significant enterprise software and entrepreneurial experience to CDC Software. He was a co-founder and managing director of the CSSL CSSL - Continuous System Simulation Language Group, one of the largest mid-range application software distributors and hardware resellers in Asia and Australasia. Prior to the CSSL Group, he held the position of General Manager of JBA (JBA International, Inc., Rolling Meadows, IL) A global developer and supplier of enterprise resource planning (ERP) software for AS/400, Unix and NT platforms. Founded in 1981 as Johnston Brown Associates, in 1999, it was acquired by Canadian-based Geac Computer Corporation. in Asia, an Australia-based worldwide mid-range software distributor. Tom Manning has long been recognized as a leading figure in information technology in Asia. He served as a director of Bain & Company and was one of their most visible senior partners directing their information technology and technology strategy practice in Silicon Valley and Asia. He previously served as global managing director at Cap Gemini Ernst & Young, where he had responsibility for one of the three lines of the firm's business. He has served as the chairman and 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 both Cap Gemini Ernst & Young, Asia Pacific and Ernst & Young Consulting in Asia Pacific. He also is an independent director of Asiainfo, a leading IT services firm in China and a NASDAQ-listed company, and an independent non-executive director of China's fifth largest bank, the Bank of Communication, which is listed on the Hong Kong Stock Exchange The Hong Kong Stock Exchange (Traditional Chinese: 香港交易所, also 港交所; abbreviated as HKEX; HKSE: 0388 ) is the stock exchange of Hong Kong. (SEHK SEHK See: Stock Exchange of Hong Kong : 3328). "We are very fortunate to have the deep experience and talent on our Board needed to fill these critical governance positions," said Peter Yip, executive chairman of CDC Software. "Both John and Tom bring successful track records with public technology companies that will be invaluable to CDC Software as we move forward with our plans." About CDC Software CDC Software, The Customer-Driven Company[TM], is a provider of enterprise software applications designed to help organizations deliver a superior customer experience while increasing efficiencies and profitability. CDC Software's product suite includes the Pivotal CRM (customer relationship management), c360 CRM add-on products, industry solutions and development tools for the Microsoft Dynamics CRM Microsoft Dynamics CRM is a Customer Relationship Management software package developed by Microsoft. It is a part of the Microsoft Dynamics family of business tools. The current version of Dynamics is 3.0, released on December, 2005. platform, Ross Enterprise - ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. (enterprise resource planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. ) and SCM (1) (Software Configuration Management, Source Code Management) See configuration management. (2) See supply chain management. (supply chain management), MVI real-time performance management, IMI warehouse management and order management, Platinum China HR (human resource) and business analytics solutions. These industry-specific solutions are used by more than 5,000 customers worldwide within the manufacturing, financial services, health care, home building, real estate, and wholesale and retail distribution industries. The company completes its offerings with a full continuum of services that span the life cycle of technology and software applications, including implementation, project consulting, outsourced business services, application management and offshore development. CDC Software is the enterprise software unit of CDC Corporation (NASDAQ: CHINA) and is ranked number 18 on the Manufacturing Business Technology Manufacturing Business Technology (ISSN-1554-3404) is a trade publication and web site owned by Reed Business Information serving the information needs of executives across corporate, IT and operations functions within the manufacturing industry. 2006 Global 100 List of Enterprise and Supply Chain Management Application vendors. For more information, please visit www.cdcsoftware.com. About CDC Corporation The CDC family of companies includes CDC Software focused on enterprise software applications and services, CDC Mobile focused on mobile applications, CDC Games focused on online games, and China.com focused on portals for the greater China markets. For more information about CDC Corporation (NASDAQ: CHINA), please visit www.cdccorporation.net Cautionary Note Regarding Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the United States 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. These forward-looking statements include statements regarding the potential carve out of CDC Software, the success of recent investments made, and future growth by CDC Software, and other statements that are not historical fact, the achievement of which involve risks, uncertainties and assumptions. These statements are based on management's current expectations and are subject to risks and uncertainties and changes in circumstances. There are important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, including the future growth of the enterprise software industry, and competitive products and technology. Further information on risks or other factors that could cause results to differ is detailed in filings or submissions with the United States Securities and Exchange Commission made by CDC Corporation in its Annual Report for the year ended December 31, 2005 on Form 20-F filed on June 21, 2006. All forward-looking statements included in this press release are based upon information available to management as of the date of the press release, and you are cautioned not to place undue reliance on any forward looking statements which speak only as of the date of this press release. The company assumes no obligation to update or alter the forward looking statements whether as a result of new information, future events or otherwise |
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