14.01.2008 12:00:00
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QAD Adds Lee Roberts to Board of Directors
QAD Inc. (NASDAQ:QADI), a leading provider of enterprise software and
services for global manufacturers, today announced that Lee Roberts has
been appointed to the Company’s board of
directors. QAD’s board now totals seven
members, five of whom are independent directors.
Roberts, 55, former Chairman and CEO of FileNet Corporation, is
currently Vice President and General Manager, Content Management at IBM,
where he returned upon their acquisition of FileNet in 2006. Roberts had
previously spent a total of more than 20 years in a variety of sales,
marketing and product management positions at IBM. From 1997 to 2006,
Roberts served in several senior executive management roles at FileNet,
a leading provider of business process and content management solutions.
He joined FileNet as President and Chief Operating Officer, was
appointed Chief Executive Officer of the company in 1998 and added the
title of Chairman in 2006.
"We are thrilled to welcome Lee, as his
background and experience will be a valuable complement to our current
board,” said Pam Lopker, Chairman and
President of QAD. "Lee’s
experience in leveraging FileNet’s extensive
customer base, global presence and vast R&D capabilities will be
valuable to us as QAD identifies new opportunities to provide
innovative, leading-edge solutions to our manufacturing customers around
the world.” "I am excited to have joined one of the
enterprise software industry’s brightest
stars, and look forward to helping QAD enhance its position in the
marketplace by driving their customers’
success and adding increased value to the global manufacturing chain,”
said Roberts.
Roberts earned two bachelor’s degrees from
California State University, San Bernardino and a master’s
degree in business administration from the University of California,
Riverside.
About QAD
QAD is a leading provider of enterprise applications for global
manufacturing companies. QAD applications provide critical functionality
for managing manufacturing resources and operations within and beyond
the enterprise, enabling global manufacturers to collaborate with their
customers, suppliers and partners to make and deliver the right product,
at the right cost and at the right time. Manufacturers of automotive,
consumer products, electronics, food and beverage, industrial and life
science products use QAD applications at approximately 5,800 licensed
sites in more than 90 countries and in as many as 27 languages. For more
information about QAD, telephone +1-805-684-6614, or visit the QAD Web
site at: www.qad.com.
"QAD” is a
registered trademark of QAD Inc. All other products or Company names
herein may be trademarks of their respective owners.
Note to Investors:
This press release contains certain forward-looking statements made
under the "safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995. A
number of risks and uncertainties could cause actual results to differ
materially from those in the forward-looking statements. These risks
include, but are not limited to, evolving demand for the company’s
software products and products that operate with the company’s
products; the company’s ability to sustain
license and service demand; the company’s
ability to leverage changes in technology; the company’s
ability to sustain customer renewal rates at current levels; the
publication of opinions by industry and financial analysts about the
company, its products and technology; the reliability of estimates of
transaction and integration costs and benefits; the entry of new
competitors or new offerings by existing competitors and the associated
announcement of new products and technological advances by them; delays
in localizing the company’s products for new
or existing markets; the ability to recruit and retain key personnel;
delays in sales as a result of lengthy sales cycles; changes in
operating expenses, pricing, timing of new product releases, the method
of product distribution or product mix; timely and effective integration
of newly acquired businesses; general economic conditions; exchange rate
fluctuations; and, the global political environment. In addition,
revenue and earnings in the enterprise resource planning (ERP) software
industry are subject to fluctuations. Software license revenue, in
particular, is subject to variability with a significant proportion of
revenue earned in the last month of each quarter. Given the high margins
associated with license revenue, modest fluctuations can have a
substantial impact on net income. Investors should not use any one
quarter’s results as a benchmark for future
performance. For a more detailed description of the risk factors
associated with the company and the industries in which it operates,
please refer to the company’s Annual Report
on Form 10-K for fiscal 2007 ended January 31, 2007.
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