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Critical Path Names Laureen Debuono Executive Vice President and Chief Financial Officer.


Business Editors/High-Tech Writers

SAN FRANCISCO--(BUSINESS WIRE)--Jan. 14, 2002

Critical Path, Inc. (Nasdaq:CPTH), a global leader in digital communication solutions, today announced that Laureen DeBuono, the company's interim chief financial officer since September 2001, has been named executive vice president and CFO See Chief Financial Officer. , effective immediately. DeBuono will continue to drive Critical Path's financial strategy and activities, reporting directly to William McGlashan, Jr., who was recently appointed Chief Executive Officer. DeBuono joined Critical Path with more than 17 years of executive experience managing operations, financial and legal departments, and was a member of the executive team that helped bring financial stability to the company.

"Laureen has proven her skills as an exceptional CFO at Critical Path over the past several months, and both her financial and operational acumen from her experience continue to be of immense value to our company," said McGlashan. "We now have the operational, financial and technical expertise firmly in place to aggressively attack the market opportunity that lies before us and build Critical Path into a sustainable, profitable business."

DeBuono came to Critical Path with a solid track record of scaling global businesses and with excellent operations, financial and legal skills. As CFO and COO for ReSound Corporation, a manufacturer of cutting edge hearing devices and communication products, DeBuono developed and implemented a worldwide restructuring program that helped the company realize $15 million in annualized annualized

Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared.
 cost savings, improve the company's operational earnings loss to a positive 12% as a ratio to sales, and pay down the company's long-term debt Long-Term Debt

Loans and financial obligations lasting over one year.

Notes:
For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt.
. DeBuono also spearheaded the sale of Resound to GN Great Nordic, a Danish telecommunications company See telecom company. . Prior to ReSound, DeBuono held executive management positions with Nellcor Puritan Bennett Puritan Bennett has been a provider of respiratory products since 1913 originally as a medical gas supplier. In addition to critical care ventilation, Puritan Bennett provided medical devices for patients outside of the acute care environment.  Inc., where she participated in increasing revenues by more than 400% over five years, and selling the business to Mallinkrodt, Inc. in a transaction valued at $2 billion. DeBuono also held corporate counsel positions at Clorox and Varian Associates Varian Associates was a company founded in 1948 by Russell H. and Sigurd F. Varian, William Webster Hansen, and Edward Ginzton to sell the klystron, the first tube which could generate electromagnetic waves at microwave frequencies, and other electromagnetic equipment. .

"What we have accomplished in the past nine months is a tribute to this management team, and it's exciting to come on board full time to help build on the company's financial recovery to achieve revenue and earnings growth for Critical Path," said DeBuono. "By focusing on the financial and operational fundamentals that are basic to business, we will be able to foster an environment of financial stability and responsibility which is core to any successful business."

DeBuono holds a bachelor's degree from Duke University, a master's degree master's degree
n.
An academic degree conferred by a college or university upon those who complete at least one year of prescribed study beyond the bachelor's degree.

Noun 1.
 from Stanford University Stanford University, at Stanford, Calif.; coeducational; chartered 1885, opened 1891 as Leland Stanford Junior Univ. (still the legal name). The original campus was designed by Frederick Law Olmsted. David Starr Jordan was its first president.  and a law degree from New York University New York University, mainly in New York City; coeducational; chartered 1831, opened 1832 as the Univ. of the City of New York, renamed 1896. It comprises 13 schools and colleges, maintaining 4 main centers (including the Medical Center) in the city, as well as the  Law School.

About Critical Path, Inc.

Critical Path, Inc. (Nasdaq:CPTH) is a global leader in communication technology and complete messaging solutions for wireless and wireline carriers, service providers and corporations through its integrated platform of messaging applications and directory infrastructure. 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 throughout 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. , Europe, Asia and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . More information on Critical Path can be found at http://www.cp.net./.

Forward-Looking Statements

This press release contains forward-looking statements by the Company and others regarding expected future business, financial and product performance, including our customers' testimonials and the Company's statements regarding endorsements of our product and services offerings by our customers, the results of restructuring efforts, our ability to successfully emerge from restructuring, the refocusing of our operation, the performance of senior executives in meeting strategic goals, our belief as to the ability of our products to ensure performance, security, scalability and reliability and the market for outsourced services like ours. The words "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, 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.
 for the fiscal year ended December 31, 2000, as amended, and the Quarterly Reports on Form 10-Q Form 10-Q

See 10-Q.
 for the quarters ended June 30, 2001 and March 30, 2001, both as may be amended from time to time.

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 2002 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Jan 14, 2002
Words:790
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