Critical Path Announces Changes to Management Team; Mark Palomba Promoted to EVP, Worldwide Sales and Field Operations; Donald Dew Promoted to CTO and EVP Product Management.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 -- Critical Path, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CPTH), a leading provider of messaging software and services, today announced changes to its management team. Effective immediately, Mark Palomba will serve as Executive Vice President (EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition ), Worldwide Sales and Field Operations, responsible for all sales, services and product marketing globally. Donald Dew dew, thin film of water that has condensed on the surface of objects near the ground. Dew forms when radiational cooling of these objects during the nighttime hours also cools the shallow layer of overlying air in contact with them, causing the condensation of some will be promoted to Chief Technology Officer (CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. ) and EVP, Product Management, effective January 31, 2006, upon the departure of Michael Serbinis, the company's current CTO and EVP Marketing, who is stepping down for personal reasons. Mr. Serbinis will continue, on a limited basis, as an advisor to the 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. and executive committee on strategic matters. Mark Palomba joined Critical Path in May 2004 and has previously served on the company's executive committee as the lead executive responsible for worldwide services, support and sales in the Asia Pacific region. Mr. Palomba has more than 23 years of experience in technology sales, services and marketing. "I am excited to expand my role and further align align ( v to move the teeth into their proper positions to conform to the line of occlusion. Critical Path's worldwide field organization with the growing opportunities we see in the marketplace," said Mark Palomba. "The mobile messaging market presents tremendous opportunities for the company worldwide, and I'm looking forward to a strong and successful future." In his six-year tenure with Critical Path, Donald Dew has served in leadership roles within the company's Engineering team, office of the CTO, and most recently, as Vice President, Product Management. Mr. Dew has more than 18 years of experience in software and technology management. With this promotion, Mr. Dew will now report directly to CEO, Mark Ferrer. "I am honored to become the company's new CTO and EVP, Product Management," said Donald Dew. "Having worked closely with Mike Serbinis in the development of Critical Path's product strategy and consumer messaging focus, I am excited about our future and dedicated to carrying forward the company's commitment to innovation." "Both Mark Palomba and Donald Dew bring to their respective roles a wealth of experience and proven track records of success," said Mark Ferrer, CEO and Chairman, Critical Path. "Their leadership has been instrumental in transforming Critical Path's financial performance over the last 18 months. With these changes to the management team, we are further aligning our organization and positioning the company to make 2006 another successful year. I'd also like to thank Mike for the significant contributions he has made during his many years with the company, and I wish him the very best in all of his future endeavors." "I have had the great privilege of working with a phenomenal group of people at Critical Path," said Michael Serbinis. "In six years, we drove an extraordinary transformation of the company. We launched our messaging platform, and most recently, we intensified in·ten·si·fy v. in·ten·si·fied, in·ten·si·fy·ing, in·ten·si·fies v.tr. 1. To make intense or more intense: our focus on the consumer market with the launch of Memova(TM). I am leaving the company with great pride in our accomplishments and look forward to continuing to work with Critical Path's executive team as they execute on their strategy." About Critical Path, Inc. Critical Path's Memova(TM) solutions provide a new and improved email experience for millions of consumers worldwide, helping mobile operators, broadband and fixed-line service providers unlock the potential of email in the mass market. Memova(TM) Mobile gives consumers instant, on-the-go access to the messages that matter most. Featuring industry-leading anti-spam and anti-virus technology, Memova(TM) Anti-Abuse protects consumers against viruses and spam E-mail that is not requested. Also known as "unsolicited commercial e-mail" (UCE), "unsolicited bulk e-mail" (UBE), "gray mail" and just plain "junk mail," the term is both a noun (the e-mail message) and a verb (to send it). . Memova(TM) Messaging provides consumers with a rich email experience, enabling service providers to develop customized offerings for high-speed subscribers. Headquartered in San Francisco with offices around the globe, Critical Path's messaging solutions are deployed by more than 200 service providers throughout the world. More information is available at www.criticalpath.net. Cautionary Note Regarding 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. : This press release contains forward-looking statements by the company and its executives regarding the growth of the company's opportunities worldwide, the prospects of the mobile messaging market, the performance of our product and service offerings, our expected revenue results, gross margins and operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. for future periods, industry trends, the ability of our products and services to meet the business needs of our customers and compete favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. in the marketplace, management of spending levels, the market for products and services like ours, our ability to focus on business strategy and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. growth opportunities and expectations for future performance and the performance of our senior management in achieving strategic goals. The words and expressions "look forward to," "will," "expect," "plan," "believe," "seek," "strive for," "anticipate," "hope," "estimate" and similar expressions are intended to identify the Company's forward-looking statements. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, our evolving business strategy and the emerging and changing nature of the market for our products and services, our ability to deliver on our sales objectives, the ability of our technology and our competitors' technologies to address customer demands, changes in economic and market conditions, and software and service design defects. These and other risks and uncertainties are described in more detail in the Company's filings with the U.S. Securities and Exchange Commission (www.sec.gov) made from time to time including Critical Path's 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. and Form 10-K/A for the fiscal year ended December 31, 2004, its Quarterly Reports on Form 10Q for the three months ended March 31, June 30 and September 30, 2005, its Current Reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. , as may be amended from time to time, and all subsequent filings with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission (www.sec.gov). The Company makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made. Note to Editors: Critical Path, the Critical Path logo, Memova and the Memova logo are the trademarks of Critical Path, Inc. All other trademarks are the property of their respective holders. |
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