Centra Announces New Board Member
02 Juin 2005 - 11:04PM
Business Wire
Centra to Add Evan C. Marwell to its Board of Directors Criterion
Capital Withdraws its Nominees for Election; Agrees to Vote for
Centra Nominees Centra Software, Inc. (NASDAQ: CTRA), a leading
provider of specialized application software and services for
online business collaboration, today announced that it will appoint
Mr. Evan C. Marwell, 39, an affiliate of Criterion Capital
Management, LLC, to fill the vacancy on the Board of Directors
created when former President and CEO Paul Gudonis resigned from
the Company in April. In connection with the appointment, Criterion
has entered into an agreement with Centra under which Criterion
will withdraw its nominees for election to the Centra Board of
Directors and will vote in favor of the nominees made by the Centra
Board of Directors at the upcoming Annual Meeting in July. Mr.
Marwell will be appointed immediately following the Annual Meeting.
Mr. Marwell is a Partner and Managing Director of the investment
team for Criterion Capital Management, LLC, Centra's largest
institutional shareholder. Before joining Criterion, he was the
President and CEO of Quixi, Inc., a venture-backed CRM software and
services company. Prior to working with Quixi, Mr. Marwell was the
Founder and President of INFONXX, a global provider of directory
assistance services to wireless carriers and Fortune 500
corporations. He began his career as a management consultant at
Corporate Decisions Inc. (now Mercer consulting) and received an
undergraduate degree in Economics, cum laude, from Harvard College
and an M.B.A., with honors, from Harvard Business School in 1992.
"We are delighted to have resolved matters with Criterion and we
welcome Evan as a member of our Board," said Leon Navickas,
Chairman and CEO of Centra. "We are fortunate to have someone with
Evan's knowledge of Centra and of the software sector in general.
His experience as a former CEO coupled with his software background
will complement the current Board's composition." "I believe that
my appointment to Centra's Board reflects the value that a
substantial, long-term investor with significant industry
experience can bring to a company," said Mr. Marwell. "I look
forward to working closely with Leon, the executive team, and the
Board to achieve our shared goal of increasing shareholder value at
Centra." About Centra Online learning and training solutions from
Centra create workforce efficiencies and enable organizations to
share and exchange business-critical information with
geographically distributed customers, partners, prospects and
employees. Centra's solutions integrate real-time communication,
collaboration and learning and departmental business processes with
specialized applications that increase sales effectiveness, improve
collaborative learning and accelerate enterprise application
rollouts and customer acquisition initiatives. Currently available
in 9 languages, Centra solutions can be deployed as on-site
software or through its ASP service and are supported by an active
ecosystem of value-added partners, including Siebel, PeopleSoft,
SAP and Deloitte Consulting. Organizations across every major
industry and market sector choose Centra, including Wyndham
International, Weyerhaeuser, Underwriters Laboratories, BMW and
Stanford University. Headquartered in Lexington, Massachusetts,
Centra serves a worldwide customer base throughout the Americas,
Europe, Asia and Australia. For more information, visit
www.centra.com. Safe Harbor Statement Regarding Forward-Looking
Statements With the exception of the historical information
contained in this release, the matters described herein contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements about the beliefs and expectations of management
regarding the Company's future performance, the Company's strategic
initiatives, its ability to achieve and maintain a leadership
position in real-time conferencing and collaboration, demand for
the Company's software services and management's goals and
objectives regarding future results of operations. These statements
reflect management's beliefs and expectations as of the date of
this statement, and involve risk and uncertainties that may cause
actual results, events and performance to differ materially. These
risk factors include, but are not limited to, risks associated with
the Company's ability to successfully execute its strategic plan,
the effect of the Company's cost-cutting measures on its
operations, acceptance by customers of the Company's Enterprise
Advantage Subscription pricing model, significant changes in our
senior management team, customer fulfillment of the entire term of
multi-year subscription contracts, uncertainty of market reaction
to the Company's sales and marketing efforts, product demand for
and market acceptance of the Centra 7 collaboration platform, the
Company's ability to sell and deliver its Enterprise Application
Rollout and Sales Effectiveness solutions and other future
products, the effect of economic conditions generally on the market
for IT spending and for the Company's products, the results of
future research and development activities, the impact of
competitive products and pricing, technological difficulties and/or
other factors outside the control of the Company. There is no
assurance that the Company will be able to implement its growth and
operating plans as anticipated, or achieve its revenue and earnings
goals. For a description of additional risks, and uncertainties,
please refer to the Company's filings with the SEC, including its
Annual Report on Form 10-K for the year ended December 31, 2004 and
its Form 10-Q for the three months ended March 31, 2005, which are
available at www.centra.com/investorrelations. Readers are
cautioned not to place undue reliance on the forward-looking
statements contained herein, which speak only as of the date
hereof. The Company undertakes no obligation to release publicly
the result of any revisions to these forward-looking statements
that may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
SHAREHOLDERS ARE ADVISED TO READ THE PROXY STATEMENT AND OTHER
DOCUMENTS RELATED TO SOLICITATION OF PROXIES BY CENTRA FOR USE AT
ITS ANNUAL MEETING OF STOCKHOLDERS WHEN IT BECOMES AVAILABLE
BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. WHEN COMPLETED, A
DEFINITIVE PROXY STATEMENT AND FORM OF PROXY WILL BE MAILED TO
SHAREHOLDERS OF CENTRA AND WILL BE AVAILABLE AT NO CHARGE AT THE
SECURITIES AND EXCHANGE COMMISSION'S WEBSITE AT WWW.SEC.GOV.
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