Complete Business Solutions, Inc. -- CBSI -- Announces Key Executive Appointment.FARMINGTON HILLS Far·ming·ton Hills A city of southeast Michigan, an industrial suburb of Detroit. Population: 81,400. , Mich.--(BUSINESS WIRE)--Feb. 8, 1999--Complete Business Solutions, Inc. (Nasdaq:CBSI CBSI CUNA Brokerage Services, Inc. CBSI Cambodian Buddhist Society, Inc. (Silver Springs, Maryland) CBSI Certified Bridge Safety Inspector CBSI Custom Business Solutions, Inc. ) announced today that Joseph Benaroya has been named Executive Vice President of Operations for CBSI's Eastern Operations. Benaroya has nearly 20 years of management, outsourcing, sales and marketing experience 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) . Most recently he served as the Vice President of Global Sales for IBM's PC division, where he was responsible for worldwide sales for all consumer PC products. In his new role at CBSI, Benaroya will be responsible for all aspects of the business including sales, operations, profit and loss performance and resource management. "I've been impressed with CBSI's work quality, responsiveness and unique delivery model," said Benaroya. "I believe that the company's service offerings match the market's requirements and I am eager to become part of the team that helps build CBSI into a $1 billion company." Raj Vattikuti, CBSI President 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. said, "Joe has developed and implemented many successful outsourcing engagements with IBM and we are delighted to welcome him to CBSI's executive team. He has the experience necessary to manage our growing business and increase our market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" in this competitive environment." Benaroya can be reached at CBSI's Stamford, CT office at 203/921-0305. About Complete Business Solutions, Inc. CBSI is a worldwide provider of a broad range of information technology services to large and mid-size organizations, from advising clients on strategic technology plans to developing and implementing custom-tailored solutions. The company's services include: Packaged software See software package. implementation; large systems applications development and maintenance; re-engineering legacy applications to client/server; client/server applications development; consulting services; contract programming; internet/intranet solutions and Year 2000 conversion and testing. To learn more about CBSI, visit its website at http://www.cbsinc.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. Provision With the exception of statements regarding historical matters and statements regarding the Company's current status, certain matters discussed herein are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve substantial risks and uncertainties that could cause actual results to differ materially from targets or projected results. Such forward-looking statements regarding targets or projections may be identified by the use of the words "anticipate," "believe," "estimate," "expect," "plan" and similar expressions. Factors that could cause such differences include the recruitment and retention of IT professionals, government regulation of immigration immigration, entrance of a person (an alien) into a new country for the purpose of establishing permanent residence. Motives for immigration, like those for migration generally, are often economic, although religious or political factors may be very important. , increasing significance and risks of non-U.S. operations, variability of operating results, decrease in demand for Year 2000 services, exposure to conditions in India, fixed-price projects, competition, management of growth, rapid technological change, risks related to mergers and acquisitions and potential liability to clients. |
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