Centrinity Announces Corporate Realignment And Appointment Of New CFO
Markham, ON June 19, 2001 – Centrinity Inc. (TSE: CTI), which develops and markets leading unified communications and collaborative groupware technologies, today announced a corporate realignment to enhance its customer focus and strengthen its product line management.
Specifically, Centrinitys project management, training and customer support functions will be consolidated and will become part of the companys sales group to more closely align sales support with the sales team. In addition, various product line management functions will be consolidated under John Myers, executive vice president strategic relations, to ensure that Centrinitys solutions continue to meet the requirements of customers over both the short- and long-term.
The realignment of certain functional areas of responsibility ensures that our focus is where it should be on the customer, said Myles McGovern, president and chief executive officer of Centrinity. The consolidation of our product line management in particular will ensure that Centrinity continues to set the standard for features and functionality in the unified communications industry.
Centrinity also announced that Richard A. LePage has resigned as executive vice president and chief financial officer and that Jane Mowat has been appointed executive vice president and chief financial officer of the company. Ms. Mowat is a chartered accountant with more than 13 years experience in operational, financial and business development expertise in the high-tech sector and a track record of executing to consistently exceed profit and growth objectives. Prior to joining Centrinity, Ms. Mowat held a variety of senior financial roles with IBM Global Financing, a division of IBM Corporation, including vice president, syndications and participations. Prior to joining IBM, Ms. Mowat held several senior financial roles with ISM Information System Management Corporation and its predecessor, Westbridge Computer Corporation, including the position of vice president of finance and chief financial officer for five years.
Ms. Mowat brings to Centrinity a wealth of senior financial, operational and business development expertise, added Mr. McGovern. She joins a solid senior management team that possesses a great deal of expertise in the communications industry. Ms. Mowat will play a key role in the management of our operations and help drive the company toward achieving profitability in a financially self-sufficient manner.
As part of the realignment, Centrinity will eliminate approximately 30 positions in North America, reducing its employee count by approximately 10 per cent to 275.
This exercise properly aligns our resources with our key business objectives, allowing the successful execution of our business strategy, continued Mr. McGovern. In addition to focusing our resources, we are taking a prudent approach to our capital and expense outlays so that we may achieve our goal of becoming a global leader in the burgeoning unified communications market without the need for additional financing.
Mr. McGovern concluded, With a solid financial position and the right personnel and teams in place, Centrinity remains well positioned to capitalize on the tremendous growth potential in the unified communications industry and establish itself as the global leader in the industry.
About Centrinity Inc.
Centrinity is a leading provider of unified communications and collaborative software solutions to telecommunications and data service providers, enterprises and learning organizations. Our award-winning software solutions are designed to enhance productivity and efficiency by simplifying and facilitating the management of communications and information among individuals and groups. Centrinity has an installed base of more than 7.4 million users at more than 10,000 organizations in 55 countries. Centrinity is listed under the symbol CTI on the Toronto Stock Exchange. Website: www.centrinity.com.
For more information please contact:
Myles M. McGovern
President and Chief Executive Officer
Manager, Investor Relations
Manager, Public Relations
This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. The company cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what the company currently foresees.
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