Centra Expands Board of Directors with Three Software Industry Veterans.Business Editors/High-Tech Writers LEXINGTON, Mass.--(BUSINESS WIRE)--April 29, 2003 Centra Software, Inc. (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 : CTRA CTRA Canadian Therapeutic Recreation Association CTRA College Terrace Residents' Association CTRA Canadian Telecommunications Resellers Alliance CTRA Committee To Restore America ), a leading provider of application software and services for real-time enterprise collaboration (RTEC RTEC Regional Technology in Education Consortium RTEC Ready-To-Eat Cereal RTEC Rural Transit Enterprises Coordinated, Inc (Kentucky, USA) RTEC Run Time Error Checker ), today announced the addition of three new members to the Centra board of directors. This expands the board to five members and provides new depth of experience that will guide the company's next stage of growth. Joining the Centra board will be Ronald Benanto, formerly CFO See Chief Financial Officer. of NewsEdge Corporation, Douglas Ferguson, a partner with The Monitor Group, and Leonard Kawell, Jr., 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 Pepper Computer. Each of these individuals was appointed by a committee of the board of directors consisting of three independent directors. The new directors will join Robert Hult, CFO and treasurer of NMS See NetWare Management System. Communications and Leon Navickas, chairman and CEO of Centra, to serve as directors. Industry Veterans Bring Financial, Technology and International Management Experience Ronald Benanto joins Centra's board of directors bringing a wealth of experience in business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets , finance, corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. , and relevant industry knowledge from his years in senior management at companies including NewsEdge, Viewlogic Systems, and Data Architects. Benanto will assume the board seat currently held by Dave Barrett This article is about the Canadian politician. For the American diplomat, see David D. Barrett. David Barrett, O.C. (born 2 October, 1930 in Vancouver, British Columbia), commonly known as Dave Barrett , general partner at Polaris Venture Partners, who has chosen to step off the Centra board to focus on his portfolio companies. Douglas Ferguson joins Centra's board of directors bringing many years of relevant experience in the areas of business development, international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , and strategy. Having worked for companies including McKinsey, Nextera Enterprises, Cambridge Technology Partners, and Lotus, Ferguson is currently a partner at Innovation Management, Inc., a Monitor Group company. He is also a trustee of the Yale-China Association The Yale-China Association (Chinese:雅礼协会), founded in 1901, is a private, nonprofit organization with more than a century of experience contributing to the development of education in and about China and to the furtherance of understanding and knowledge . Ferguson assumes the new seat on the Centra board. Leonard Kawell, Jr. joins the Centra board of directors bringing the experience and insight of a recognized technology industry visionary. One of the original founders of Iris Associates Iris Associates was a software development company founded in Littleton, Massachusetts on December 7, 1984 by Ray Ozzie to build the software ultimately known as Lotus Notes. , the inventors of Lotus Notes Messaging and groupware software from IBM Lotus that was introduced in 1989 for OS/2 and later expanded to Windows, Mac, Unix, NetWare, AS/400 and S/390. Notes provides e-mail, document sharing, workflow, group discussions and calendaring and scheduling. , Kawell has extensive experience bringing innovative technologies to market for companies including Adobe, Glassbook, and Lotus/IBM. Kawell is currently founder and CEO of Pepper Computer, a developer of software for mobile wi-fi devices. Kawell will replace Richard D'Amore, a founding venture capital investor in Centra, who has served on the Centra board for eight years. Reaching the end of his previously elected term, D'Amore will be stepping off the Centra board to focus on his North Bridge Venture Partners investments. As Class I directors, each of Messrs. Ferguson and Kawell will be on the ballot for election to a three-year term at Centra's annual meeting of stockholders, scheduled to be held on June 12, 2003. "Although we will miss the valuable counsel of our long-standing board members, Rich D'Amore and Dave Barrett, and greatly appreciate their years of service to Centra, we are also pleased to welcome our new members," said Leon Navickas, Centra Chairman and CEO. "Their combined experience will be of great service to our management team as we grow rapidly toward our goal of becoming a large and sustainably profitable enterprise application software company." About Centra Centra offers enterprise applications software that enables organizations to shift their group-oriented business activities to the Internet or their internal network. Leading with an undisputed track record of helping more than 1,100 global corporations, government agencies, and universities increase revenue and improve overall business performance, Centra offers a family of integrated real-time enterprise collaboration (RTEC) application software solutions and services to over 3.2 million licensed users. Customers drive greater productivity and lower their costs using Centra's solutions for collaborative eLearning, online sales and marketing, Web-based service and support, and other interactive, people-centric internal and customer-facing work. The applications can be deployed as on-premise software or through our ASP service, are available in 13 languages, and are supported by an active ecosystem of value-added partners, including Microsoft, Oracle, Siebel, Deloitte Consulting, EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. , and Cisco. Today, organizations across every function, industry, and market sector choose Centra, including Cadbury Schweppes, McKesson, Sysco, Viacom, and Stanford University. Headquartered in Boston, Centra serves a worldwide customer base throughout the Americas, Europe, Asia and Australia. For more information, visit www.centra.com. 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. Statement With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements within the meaning 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, including but not limited to, statements concerning the Company's ability to achieve growth and profitability, its ability to successfully address the real-time communication and collaboration arena and management's expectations regarding future results of operations. These statements involve risk and uncertainties that affect the matters therein, and cause actual results, events and performance to differ materially. These risk factors include, but are not limited to, the Company's dependence on its senior management team and its ability to identify and recruit senior management personnel with sufficient qualifications and capabilities to replace its current president and its current chief executive officer, the results of future research, uncertainty of product demand and market acceptance for the Company's current and future products, the effect of economic conditions, the impact of competitive products and pricing, the Company's ability to manage and integrate the operation of the business of MindLever.com, Inc., acquired on April 30, 2001, technological difficulties and/or other factors outside the control of the Company. There is no assurance that the Company will be able to implement its operating plans as anticipated or achieve projected revenue and earnings goals. For a description of additional risks, and uncertainties, please refer to the Company's filings with the SEC, including its 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. for the year ended December 31, 2002, which are available at www.centra.com/investorrelations. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Centra is a registered trademark, and CentraOne is a trademark of Centra Software, Inc. All other trademarks referenced herein are the property of their respective owners. |
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