Combs to chairman & chief executive officer at SunRiver Corp.AUSTIN, Texas--(BUSINESS WIRE)--May 15, 1997--SunRiver Corp. (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 :SRVC srvc service SRVC San Ramon Valley Campus (Diablo Valley Community College, California) SRVC Society for Rehabilitation of the Visually Challenged (India) ) Thursday announced that J. Gerald Combs Gerald Combs, a computer science graduate of the University of Missouri-Kansas City, is the creator and lead developer of Ethereal, now Wireshark, which was first released in 1998. , 47, has been appointed chairman and chief executive officer by the company's board of directors, replacing acting 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. Leonard N. Mackenzie, who resigned to pursue personal opportunities in another industry. Mackenzie's resignation decreases the size of the board to five, of whom two are outside directors. Combs is also chairman and CEO of privately held New York-based SunRiver Group, which owns approximately 53 percent of the issued and outstanding shares of SunRiver Corp. He will continue to work from SunRiver Group's office in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Reporting to Combs will be SunRiver Corp. Chief Financial Officer Wayne Schroeder and the company's 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. , Boundless Technologies Inc.'s President and CEO Bob James. Combs commented, "Len Mackenzie joined SunRiver last November on a six-month turnaround assignment to revitalize the company by streamlining operations, bringing in new management and establishing a new strategic focus, all of which he accomplished. "Under his leadership the company reduced its bank debt from $28.1 million to $17.1 million, achieved profitability in its core business and significantly reduced costs throughout the corporation. We wish Len well in his future endeavors, and thank him for his efforts while here." Combs is a veteran of more than two decades of financial and investment banking experience. He has served as chairman and CEO of SunRiver Group since April 22, 1997, and has since 1992 been president & CEO of privately held New York-based Merrico Corp., a financial consultancy. During 1993-1994, Combs was president of All Quotes Inc., an electronic provider of financial information, which was the predecessor company of SunRiver Corp. From 1975 to 1981, he held various positions with Salomon Brothers. Combs holds a Juris Doctor The degree awarded to an individual upon the successful completion of law school. Juris doctor, or doctor of Jurisprudence, commonly abbreviated J.D., is the degree commonly conferred by law schools. cum laude from St. Louis University Law School, with graduate tax work at the New York University New York University, mainly in New York City; coeducational; chartered 1831, opened 1832 as the Univ. of the City of New York, renamed 1896. It comprises 13 schools and colleges, maintaining 4 main centers (including the Medical Center) in the city, as well as the Law School and a bachelor of arts degree in economics from Northwestern University. Boundless Technologies, a subsidiary of SunRiver Corp., is a world leader in the design, manufacture and marketing of terminals and network computers for the Windows environment and the Internet/intranet, legacy and UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). applications markets. The company's family of network computers provides "thin-client" computing solutions with PC capabilities where applications reside on a server and are accessed by users on demand. Without the need for large disk and memory capacities, all models offer significant administrative and total-cost-of-ownership advantages over networked PCs. The company's products are distributed worldwide through a network of OEMs, distributors and value-added resellers. CONTACT: Allen & Caron Inc Kent Broussard (investors) Owen Daley (media) 714/252-8440 |
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