Critical Path Announces New Senior Vice President of Worldwide Sales; Top Executive Joins Team to Build on Current Momentum and Drive Revenue Growth.Business Editors/High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--June 26, 2001 Critical Path, Inc. (Nasdaq:CPTH), a global provider of Internet Messaging and Directory Infrastructure, today announced the appointment of Kent Bridges as its new senior vice president of Worldwide Sales. As a seasoned professional with a successful tenure at such companies as Novell, Xerox and Gadzoox Networks, Bridges brings to Critical Path extensive experience selling communications applications and IT infrastructure into the corporate enterprise, carrier and service provider markets. "Our sales force has had considerable success to date and continues to execute on our commitment to our customers, signing many major deals in the first half of the year," said David Hayden, Critical Path's founder and executive chair. "Kent's extensive knowledge and experience in sales strategy development will allow us to build on our current momentum and reach the next level of success." Kent Bridges brings over 20 years of experience in crafting successful worldwide OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and , channel and direct sales strategies for established companies as well as successful start-ups. During his recent 4 year tenure as worldwide vice president of Sales for Gadzoox Networks, Bridges led the company's revenue growth up over 6,000% and helped Gadzoox reach its 1999 IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. . Bridges also played a key role in helping Gadzoox establish partnerships with companies such as Compaq, Hewlett Packard, 3COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. and Fujitsu. Prior to Gadzoox, Bridges led worldwide sales at ZeitNet and North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. sales at Retix, helping both companies achieve multi-million dollar revenue growth and establishing partnerships with Cisco, NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. and Korea Telecom KT (formerly, Korea Telecom, Korean: 한국통신, NYSE: KT) is South Korea's top integrated wired/wireless telecommunication service provider. KT has been Korea's leader in the development of the information & communications business for the last 25 years . Further, during his previous tenure at Novell, Bridges helped the company achieve revenue growth of over 120% in one year. "Critical Path is a company with unlimited potential based on its innovative products and services and the market it serves," said Bridges. "The company's messaging and directory offerings have proven highly successful among major enterprise and service provider customers, and my goal is to leverage the strength of this technology to forge new, global partnerships that will put the company back on its path to profitability." About Critical Path, Inc. Critical Path Inc. (Nasdaq:CPTH) ignites the power of information for eBusiness by providing the Internet messaging infrastructure upon which the new economy is built. The Company is a single resource that powers the flow of mission-critical information through an integrated portfolio of secure messaging, directory, data integration and collaboration solutions. Critical Path's technology strengthens all aspects of the eBusiness value chain by providing the messaging infrastructure that fuels customers' new and existing eBusiness initiatives. Critical Path is headquartered in 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 , with offices worldwide. More information on Critical Path can be found at www.cp.net. This press release contains 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. , including the Company's statements regarding international markets as a source of endorsements by our customers, our plans to strategically exit certain products and services and to reduce costs through a reduction of personnel and a consolidation of office space, our anticipated charges and cost savings as a result of these plans and our belief as to our ability to successfully emerge from the restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). and refocusing Noun 1. refocusing - focusing again focalisation, focalization, focusing - the act of bringing into focus of our operations. The words "anticipate," "expect," "intend," "plan," "believe," "seek," and "estimate" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially. Factors that might cause future results to differ materially from those projected in the forward-looking statements include, but are not limited to, difficulties of forecasting future results due to our limited operating history, evolving business strategy and the emerging nature of the market for our products and services, pending litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and SEC investigation, turnover of senior management and other key personnel, difficulties of integrating acquired businesses, failure to expand our sales and marketing activities, potential difficulties associated with strategic relationships, investments and uncollected bills, risks associated with our 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. , foreign currency fluctuations, unplanned system interruptions and capacity constraints, software defects, and those discussed elsewhere in this announcement. These and other risks and uncertainties are described in more detail in the 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. filed on April 5, 2001 and as amended on Form 10-K/A on April 30, 2001 and with subsequent filings with the Securities and Exchange Commission (www.sec.gov). Note to Editors: Critical Path and the Critical Path logo are the trademarks of Critical Path, Inc. All other trademarks are the property of their holders. |
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