W. Andrew McKenna Named President of SciQuest.com; Company Appoints Experienced Home Depot Executive With Extensive Customer Service and Technology Expertise.Business Editors/Technology Writers RESEARCH TRIANGLE PARK Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , N.C.--(BUSINESS WIRE)--Dec. 22, 1999 SciQuest.com (Nasdaq:SQST), the leading business-to-business e-marketplace for the global scientific products industry, today announced that W. Andrew McKenna, age 53, will join the company as President. In this newly created role, he will be responsible for the strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. and execution of all departments within SciQuest.com -- including sales, marketing, IT, operations and finance. Scott Andrews will remain in his role as chief executive officer of SciQuest.com and will continue to focus on expanding the company's vision and leading the development of SciQuest.com's long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. strategic planning activity. Mr. McKenna joins SciQuest.com after 10 years with Home Depot The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products and services. Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia, Home Depot employs more than 355,000 people and operates 2,164 big-box , Inc., where most recently he was the Senior Vice President responsible for strategic business development. Prior to that he was President of Home Depot's Midwest division for 4 years, where he grew a multi-billion dollar business, leading the fastest growing division in Home Depot. During his tenure at Home Depot, he was also the Chief Information Officer, where he was responsible for IT strategy and implementation. Prior to joining Home Depot, Mr. McKenna spent more than 15 years at Deloitte and Touche as a partner in charge of providing consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" to the firms' manufacturing and services clients. His engagements focused on areas such as technology, capacity extension, cost reduction and operation improvement. "Andy has an ideal background to be President of SciQuest.com," said Scott Andrews, 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 SciQuest.com. "With his proven track record of top-quality customer service, his experience in driving costs out of supply chains, and his expertise in leveraging technology, Andy will help accelerate SciQuest.com's market leading position in the scientific products industry. He will ensure that milestones are exceeded and our company's direction clearly articulated ar·tic·u·la·ted adj. Characterized by or having articulations; jointed. ." About SciQuest.com SciQuest.com is the leading business-to-business e-marketplace for scientific products used by pharmaceutical, chemical, biotechnology, industrial and educational organizations worldwide. By leveraging its extensive laboratory products and supply chain management expertise with its exclusive product listings and robust portfolio of e-procurement solutions, SciQuest.com has the ability to reduce customers' procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. costs while increasing researchers' productivity. Additionally, SciQuest.com provides suppliers with a cost-effective sales and marketing channel. The company's e-marketplace is distributor-neutral and can be customized and seamlessly integrated with its customers' enterprise systems. SciQuest.com is headquartered in Research Triangle Park, N.C. with offices in Mountain View, Calif. and Plainview, N.Y. Statements in this press release that are not historical facts are 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. that involve risks and uncertainties. For such statements, the Company claims the protection of the 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. for forward-looking statements 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. The potential risks and uncertainties associated with these forward-looking statements could cause actual results to differ materially from those presented herein, and the reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements include, among others, the possible consequences of government regulation, the Company's ability to attract and retain a broad range of purchasers and suppliers, to effectively add additional products to its e-commerce database and to otherwise operate efficiently and cost effectively. These and other risk factors are discussed in the Company's Registration Statement on Form S-1, declared effective by the Securities and Exchange Commission on November 19, 1999. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion