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Critical Path Appoints CEO Mark Ferrer as Chairman; Cheung Kong Executive Edmond Ip Tak Chuen Joins Board; Tom Tinsley of General Atlantic Partners Named Lead Director.


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. (Nasdaq:CPTH), a global provider of messaging solutions for mobile, broadband and fixed-line service providers, today announced that effective immediately, 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.  Mark Ferrer will become chairman of the board, replacing current chairman William McGlashan, Jr., who is stepping down to focus on other responsibilities. Edmond Ip Tak Chuen, executive director of Cheung Kong (Holdings) Limited is joining the board. Additionally, current board member Tom Tinsley, a partner at General Atlantic Partners, is named lead director and will represent and guide the board's independent directors.

"As we shift the company's focus to consumer messaging, I am optimistic op·ti·mist  
n.
1. One who usually expects a favorable outcome.

2. A believer in philosophical optimism.



op
 about the future and I am pleased to serve as the board's new chairman," said Mr. Ferrer. "I would like to thank Bill (William) McGlashan for the valuable contributions he has made to Critical Path over the years. I would also like to welcome Edmond to the board. Edmond's experience, as well as his knowledge of the Asian market, will provide tremendous value to the board."

"I am very pleased by the positive momentum that Critical Path is experiencing with its new mobile and broadband consumer offerings," said Mr. McGlashan. "With the new strategy, the recent $18M financing, and Mark's leadership, I believe the company is on the right track. I wish both Mark and the company much continued success."

Mr. McGlashan, who served as Critical Path's CEO from November 2001 to March 2004, and as chairman since May 2002, is resigning to focus on his responsibilities as managing director of TPG TPG Texas Pacific Group
TPG Tapping
TPG Transports Publics Genevois (Geneva, Switzerland public transportation)
TPG Test Pattern Generator
TPG TNT Post Group
TPG Trésorier Payeur Général
 Ventures (Texas Pacific Group).

The board's new member, Edmond Ip Tak Chuen, has been an executive director of Cheung Kong (Holdings) Limited since September 1993.

"Cheung Kong is encouraged by Critical Path's new focus, and I am very pleased to provide my expertise to the management team and the board as they execute on their strategy," said Mr. Edmond Ip.

Tom Tinsley, who is now named lead director, joined Critical Path's board June 1, 2004. Prior to his current position as a partner at General Atlantic Partners, Mr. Tinsley served as chairman and CEO of the Baan Company N.V. and as a Director at McKinsey & Company, Inc.

Cheung Kong, along with General Atlantic Partners, led Critical Path's recent round of $18 million in new financing. Cheung Kong (Holdings) Limited is the flagship of the Cheung Kong Group, the leading Hong Kong-based multi-national conglomerate conglomerate, in business
conglomerate, corporation whose asset growth, often very rapid, comes largely through the acquisition of, or merger with, other firms whose products are largely unrelated to each other or to that of the parent company.
 whose members include Hutchison Whampoa Hutchison Whampoa Limited or HWL (Traditional Chinese: 和記黃埔有限公司, HKSE: 0013  Limited, among others.

About Critical Path, Inc.

Critical Path, Inc. (Nasdaq:CPTH) is a global provider of messaging solutions for mobile, broadband and fixed-line service providers, headquartered in San Francisco. More information is available at www.criticalpath.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.
 by the Company and its executives regarding the Company's future financial performance. 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, unplanned system interruptions and capacity constraints CONSTRAINTS - A language for solving constraints using value inference.

["CONSTRAINTS: A Language for Expressing Almost-Hierarchical Descriptions", G.J. Sussman et al, Artif Intell 14(1):1-39 (Aug 1980)].
, software and service design defects. These and other risks and uncertainties are described in more detail in the Company's 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) 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.
 for the fiscal year ended December 31, 2003, Forms 10-Q for the three months ended March 31, June 30, 2004 and September 30, 2004 and 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 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 CIRCUMSTANCES, evidence. The particulars which accompany a fact.
     2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or
 after the date any such statement is made.

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.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jan 31, 2005
Words:716
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