Critical Path Appoints CEO William McGlashan Chairman of the Board, Nominates New Director.Business Editors/High-Tech Writers Former Mannessman AG Chairman Klaus Esser Nominated to Join Board of Global Leader in Internet Communications Critical Path, Inc. (Nasdaq:CPTH) today announced that Chief Executive Officer William E. McGlashan, Jr., has been named chairman of the board of directors. The Company also announced that Klaus Esser, a general partner at private equity firm General Atlantic Partners, and former chairman of German telecommunications giant Mannessman AG, has been nominated to serve on its board of directors. Mr. Esser will stand for election at the upcoming Annual Meeting of Shareholders to be held on July 23, 2002 at 10 a.m. at a new location, The Hyatt Regency 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 , at 5 Embarcadero Center The Embarcadero Center is a commercial complex of six towers (four office, two Hyatt hotels) and one office tower on a 9.8 acre (39,655 square meters) site that is located in the San Francisco's financial district close to the Embarcadero. , San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] . Mr. McGlashan, 38, a veteran executive from both the corporate world and private equity industry, joined the board of Critical Path in April 2001. He was named chief executive officer in January of this year after leading the company to financial stability. He previously served as the Company's interim president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "Bill was the driving force behind the Critical Path turnaround, and he remains the driving force behind a solid management team that is executing well on all fronts," said Raul Fernandez, 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. of Dimension Data North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , and a Critical Path director. "Bill possesses the leadership and vision necessary to build upon Critical Path's solid technology and customer base to create a truly substantial global company." Prior to joining Critical Path, Mr. McGlashan served as chief executive of technology investment firm Vectis Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , and as a venture partner at Whitney & Co. He previously co-founded and served as president of Pharmanex and was co-founder and CEO of Generation Ventures. Mr. McGlashan is also a Bain Capital Bain Capital LLC is a Boston, Massachusetts-based private equity firm founded in 1984 by Mitt Romney, the former Governor of Massachusetts, and two other partners from the consulting firm Bain & Company: T. Coleman Andrews III and Eric Kriss. and Information Partners alumni. He earned a Bachelor of Arts degree in history at Yale University Yale University, at New Haven, Conn.; coeducational. Chartered as a collegiate school for men in 1701 largely as a result of the efforts of James Pierpont, it opened at Killingworth (now Clinton) in 1702, moved (1707) to Saybrook (now Old Saybrook), and in 1716 was and a master's degree in business administration from the Stanford Graduate School of Business The Stanford Graduate School of Business (also known as Stanford Business School or Stanford GSB) is one of the professional schools of Stanford University, in Stanford, California. It is one of the leading business schools in the United States. . "I'm honored the board has appointed me to serve as Critical Path's chairman," said McGlashan, "and I'm also delighted to add to the board a very talented and experienced leader with extremely relevant business experience." "Klaus Esser has tremendous expertise in the communications industry and in the European and international corporate markets," said McGlashan. "He provides a unique understanding of the vital role technology plays in global corporations." An expert on the communications industry, Mr. Esser leads investment activity in Germany for General Atlantic Partners, the global private equity firm and a Critical Path investor. He was formerly at Mannessman AG for 23 years, most recently as chairman of the executive board. Mr. Esser is currently chairman of the board of Apollis AG, a developer of mobile applications and services, and is a director of GWI GWI Great Works Internet GWI Guyana Water Inc GWI General Wage Increase GWI Grinding Wheel Institute GWI Games Workshop Interactive GWI Greenhouse Warming Index GWI Greenwood International, Inc. AG, a provider of software solutions for hospitals. He is a graduate of the Sloan School of Management at the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, and the LMU LMU Ludwig Maximilians Universität (München) LMU Loyola Marymount University LMU Leeds Metropolitan University (UK) LMU Lincoln Memorial University LMU Location Measurement Unit law school in Munich. "Internet communications applications, specifically messaging solutions, are becoming increasing relevant to carriers and service providers as they seek to drive revenues globally," said Mr. Esser. "With its current installed base of market-leading carriers and service providers, Critical Path is well-positioned to take advantage of this trend." In addition to Messrs. McGlashan and Fernandez, other members of the Board are: William E. Ford, a general partner of General Atlantic Partners LLC, a private equity firm that focuses on investing in global information technology and telecommunications businesses, and Jeffrey T. Webber, founder and president of R.B. Webber & Company, which provides strategic planning and consulting services to high technology companies in Silicon Valley. About Critical Path, Inc. Critical Path, Inc. (Nasdaq:CPTH) delivers software and services that maximize the value of Internet communications. The company provides messaging and collaboration solutions -- from wireless, secure and unified messaging to basic email and personal information management -- as well as identity management solutions that simplify user profile management and strengthen information security. The standards-based Critical Path Communications Platform, built to perform reliably at the scale of public networks, delivers the industry's lowest total cost of ownership for messaging solutions and lays a solid foundation for next-generation communications services. Critical Path's customers include more than 700 enterprises, 190 carriers and service providers, eight national postal authorities and 35 government agencies. Critical Path is headquartered in San Francisco with offices throughout North America, Europe, Asia and Latin America. More information on Critical Path can be found at www.cp.net 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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