SiVault Systems Names New CEO, President.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- SiVault Systems Inc. has named Richard (Dick) Moore its new chief executive officer and President today. Prior to joining SiVault Systems Inc. Dick had spent 4 years as 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. of Financial Fusion Inc. (Subsidiary of Sybase Inc.) a software development company whose primary market was the top 100 Banks in the World. Financial Fusion provided sophisticated end user applications, which included a Retail Banking Suite as well as a fully integrated Corporate Banking solution. During his tenure at Financial Fusion the company was recognized as best in class and acquired a number of prestigious customers such as Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Bank of China and Citizens Bank to name a few. Before Financial Fusion, Dick was Senior Vice president of Cygent Systems and later become 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. . Cygent provided web-enabled applications designed for the telecommunications sector. Prior to Cygent, Dick was the Senior Vice President of Pyramid Systems a high end Unix manufacturer. Prior to Pyramid Systems Dick started his career with the Burroughs Corporation (company) Burroughs Corporation - A company which merged with Sperry Univac to form Unisys Corporation. They produced the Datatron 200 series among other computers. as an entry-level sales person progressing over 17 years in a variety of sales management Sales Management Role and Goal Importance of sales management is critical for any commercial organization. Expanding business in not possible without increasing sales volumes, and effective sales management goal is to organize sales team work in such a manner that ensures a positions. Dick graduated from Syracuse University Syracuse University, main campus at Syracuse, N.Y.; coeducational; chartered 1870, opened 1871. Syracuse is noted for its research programs in government and industry; facilities include the Center for Science and Technology, the Newhouse Communications Center, and in 1974. "Dick is an unbelievably strong operations guy, who we are fortunate to bring in at this stage in the restructuring of the company" Wayne Taylor Wayne Taylor (born 15 July 1956 in Port Elizabeth, South Africa) is a South African sports car racer. He won the 1996 and 2005 24 Hours of Daytona, and the 2005 Rolex Series. He co-drives for SunTrust Racing with Max Angelelli. , SiVault Systems Chief Financial Officer said. Mr. Moore stated, "I am very pleased to be involved with SiVault during this transition. I believe my background and experience along with my competitive intensity will assist in reshaping SiVault into a growth company delivering shareholder value." About SiVault: The Company provides next generation secure access management software for comprehensive, fine-grained access control to information distributed over any network topologies. It allows authorized users to access protected information safely and securely, online or offline. The SiVault software, known as SiSeal, is unique among security technologies in that it secures the data so that it can be freely distributed anywhere yet provides centralized administration to manage and maintain who can access what information at any time. This provides for an effective way to enforce enterprise security policies on computer systems as it reduces the complexity and cost of security administration. This approach to securing data combined with role based access control provides tremendous leverage in efficiently managing and handling secure documents across large numbers of users. This is especially important with the ever increasing complexity surrounding compliance such as HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, and Sarbanes-Oxley. As a result, SiSeal's scalable architecture provides dramatic cost savings, especially when compared to PKI (Public Key Infrastructure) A framework for creating a secure method for exchanging information based on public key cryptography. The foundation of a PKI is the certificate authority (CA), which issues digital certificates that authenticate the identity of -based systems. SiSeal's architecture is based on a suite of fully integrated products intended to interoperate as a single solution. Our role based encryption, role based access control and biometric authentication components provide significant value over competitive solutions, such as the ability to provide simultaneous read/write access to data across multiple users. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. This news release may contain forward-looking statements relating to the success of any of the Company's strategic initiatives, the Company's growth and profitability prospects, the benefits of the Company's products to be realized by customers, the Company's position in the market and future opportunities therein, the deployment of SiVault products by customers, and future performance of SiVault Systems Inc. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, among others, risks involved in the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC). You should not place undue reliance upon any such forward-looking statements, which are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change. |
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