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e2open Appoints Key Executives and Board Members; Completes Formation as Independent Company.

Business Editors/High-Tech Writers

SILICON VALLEY, Calif.--(BUSINESS WIRE)--Sept. 6, 2000

New Collaborative eMarketplace for the Electronics Industry

Names Mark Holman as Chief Executive Officer and Paul Sterne

as Chief Financial Officer; Elects John Mumford as Chairman

of the Board of Directors

e2open.com LLC, the leading collaborative eMarketplace for the electronics industry, announced today that it has completed its formation with the appointment of key executives and board members. Leaders in the electronics and technology industries -- including Hitachi, IBM, LG Electronics, Lucent Technologies, Nortel Networks, Matsushita Electric (Panasonic), Seagate Technology, Solectron and Toshiba -- first formed e2open to deliver better efficiencies throughout the electronics supply chain. e2open's eMarketplace runs on technology from Ariba, i2 and IBM. In related news today, e2open also announced that Acer, the world's third largest PC maker, joins e2open as a founding partner. As an independent entity, e2open will own and operate the eMarketplace, and leverage its $200 million in funding to streamline the exchange of goods and information throughout the electronics product life cycle -- from design to sourcing, manufacturing and end-of-life product management. The company plans to be headquartered in the Silicon Valley, CA area.

The appointment of key executives and board members enables e2open to expand rapidly and realize its vision of delivering better efficiencies throughout the electronics supply chain. John Mumford, founding partner of Crosspoint Venture Partners and former acting CEO of e2open, was elected as chairman of the board of directors. Mark Holman was named president and chief executive officer, and will serve on the board of directors. Holman previously served as corporate vice president for strategic marketing, planning and corporate development at Solectron. Paul Sterne was appointed chief financial officer, and joins e2open from IBM, where he was managing director, corporate development.

"A collaborative electronics marketplace of this stature has the potential to redefine the industry and establish a new level of efficiency and productivity," said John Mumford, founding partner of Crosspoint Venture Partners and former acting CEO of e2open. "Experienced leadership is essential as the company develops and leads the market. In Mark, we have selected a leader who has the strategic vision, knowledge of the supply chain, global experience and leadership who will balance the perspectives of the supplier, buyer and investor communities."

"I am excited to have been selected to lead e2open," said Mark Holman, president and CEO of e2open. "I look forward to working towards e2open's primary goal of providing design, manufacturing and procurement professionals worldwide with new forms of collaboration and efficiency through a common technology platform with local language hubs in North America, Japan, Europe, Korea, Taiwan and Singapore."

Holman joins e2open with 20 years of experience in manufacturing, development, supply chain management and corporate development, with the last five years focused on the electronics industry. He began his career in various manufacturing and development roles at General Motors, and moved on to supply chain and corporate strategy consulting assignments with global enterprises at Booz-Allen & Hamilton. Most recently, Holman helped build Solectron into a world-class organization where he was responsible for strategy, marketing and planning, and mergers and acquisitions.

Paul Sterne joins e2open from IBM, where he served as managing director of corporate development since 1994. Sterne brings a breadth of deal experience and relationships in the high technology industry. Prior to IBM, Sterne worked at Deutsche Bank AG, New York Branch as director of mergers and acquisitions. Prior to Deutsche Bank, Sterne was director of new business development for General Motors Corporation, New York Treasurer's Office. Sterne has been acting in the capacity of CFO for e2open since July 31.

Mumford and Holman are joined by board members Frachard Lung, CIO of Acer; Steve Ward, general manager of industrial sector of IBM; Ho-Jin Hwang, vice president and chief procurement officer of LG Electronics; Jose Mejia, vice president and chief procurement officer of Lucent Technologies; G. Andrea Botta, managing director of Morgan Stanley Dean Witter; Richard Ricks, CIO of Nortel Networks; Steve Luczo, CEO of Seagate Technology; and Koichi Nishimura, chairman, CEO and president of Solectron. Hitachi Ltd. is also represented on the Board of Directors.

About e2open

e2open is the leading collaborative eMarketplace for the electronics industry with a focus on enabling the effective collaboration for design, supply chain, manufacturing, procurement and end-of-life management for high technology products. e2open was formed by industry leaders such as Acer, Hitachi, IBM, LG Electronics, Lucent Technologies, Matsushita Electric (Panasonic), Nortel Networks, Seagate Technology, Solectron and Toshiba, as well as the prominent venture capital firms Crosspoint Venture Partners and Morgan Stanley Dean Witter, to develop an exchange for the electronics industry based upon industry standards. e2open's basic services are open for use by any person or business; access to certain services may require the execution of a membership agreement. To find out more about e2open and explore career opportunities, please visit our website at www.e2open.com.
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Publication:Business Wire
Geographic Code:1USA
Date:Sep 6, 2000
Words:810
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