CallidusCloud Announces New CFO
Callidus Software (NASDAQ: CALD), a leading provider of hiring, learning, marketing and selling cloud software, today announced the appointment of Bob L. Corey to serve as Senior Vice President, Chief Financial Officer, effective as of May 31, 2013. Mr. Corey will report to Leslie Stretch, the Company's President and Chief Executive Officer.
"Bob brings more than 30 years of executive and financial management experience in public and private companies, particularly in Silicon Valley with software and hardware companies earning more than $100 million in revenue annually. Bob is highly experienced in all aspects of managing the financials of public companies, he has a strong history with the street, and a proven track record in developing and delivering communications regarding the companies he represents. He also has strong corporate governance acumen and extensive mergers and acquisitions experience. His operational skills are precisely what we need at this time in the Company's development. I am thrilled to have him join our team," said Mr. Stretch.
Prior to joining the Company, Mr. Corey served as the chief financial officer of FrontRange Solutions USA Inc., an enterprise software company, since May 2012. Prior to FrontRange, he served in various roles at Extreme Networks, Inc., an Ethernet solutions company from July 2009 to March 2011, ultimately as interim chief executive officer and executive vice president and chief financial officer. Prior to Extreme Networks, Mr. Corey held a variety of executive positions, including executive vice president and chief financial officer, at Thor Technologies, Inc., an enterprise software company, from May 2003 to January 2006. Mr. Corey currently serves as a member of the board of directors and as chairman of the audit committee for Apigee Corporation, a private software development tools and services company.
Mr. Corey is replacing Ronald J. Fior, who has served as the Company's Senior Vice President, Finance & Operations and Chief Financial Officer for the past ten years. Mr. Fior will remain in his present role through the filing of the Company's Form 10-Q for the first quarter of 2013, and will continue with the Company through July 31, 2013 to help ensure a smooth transition.
"I have been greatly impressed with CallidusCloud's successful transition to SaaS. Their proposition of helping companies sell more, faster and the combination of SaaS products that address the urgent needs of sales and marketing divisions across the globe place them in a unique position to profitably grow as a category leader," said Mr. Corey.
Note on Forward-Looking Statements
The forward-looking statements included in this press release, including discussion of our commercial prospects and performance reflect management's best judgment based on factors currently known and involve risks and uncertainties. These risks and uncertainties include, but are not limited to, potential disruption of customer purchase decisions resulting from global economic conditions, timing and size of orders, potential material fluctuations in financial results and future growth rates, decreases in customer spending, uncertainty regarding purchasing trends in the SPM market, customer cancellations or non-renewal of maintenance contracts or on-demand services, our potential inability to manage effectively any growth we experience, uncertainty regarding the demand for and profitability of our on-demand services, increased competition or new entrants in the marketplace, and other risks detailed in Callidus' reports filed with the Securities and Exchange Commission, including its Form 10-K for 2012. Actual results may differ materially from those presently reported. We assume no obligation to update the information contained in this release.
About CallidusCloud Callidus Software Inc. (NASDAQ: CALD), doing business as CallidusCloud®, is a leading provider of cloud software. CallidusCloud enables organizations to drive performance and productivity across their businesses with our hiring, learning, marketing and selling clouds. From back office to the field, from desktop to mobile, we ensure organizations have the right tools to be more effective and perform better. The combined power of our clouds, our people, and our partners fuels growth, empowers the work force and delivers real value. CallidusCloud drives performance and productivity for over 1900 leading organizations. Small, medium and large enterprises across multiple industries and geographies rely on CallidusCloud for quicker hiring, simpler learning, better marketing, and smarter selling. For more information, please visit www.calliduscloud.com.
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