Segue Software Promotes Michael Sullivan to Chief Financial Officer
11 August 2005 - 6:30AM
Business Wire
Segue Software, Inc. (NASDAQ-SCM: SEGU), a leader in Software
Quality Optimization(TM) (SQO(TM)), today announced that Michael
Sullivan has been promoted from Vice President of Finance to Chief
Financial Officer, effective August 15, 2005. Douglas Zaccaro, who
has served as Segue's Chief Financial Officer since 2000, will
become Senior Vice President and Treasurer, responsible for legal
affairs, investor relations and the treasury function. "Mike
Sullivan's financial skills and in-depth company knowledge will
enable us to effectively manage the Company's financial resources
as we work to achieve our long-term goals and objectives. Doug
Zaccaro has done an admirable job as our Chief Financial Officer,
working with me and the senior management of Segue to turn the
Company's operations around and stabilize our financial footing,"
said Joseph Krivickas, president and chief executive officer. "We
are very pleased that our organization can continue to count on
Doug's expertise in his new role with the Company." Mr. Sullivan,
40, joined Segue Software in 2000 as North American Controller. He
was promoted to Corporate Controller in 2002 and, in 2004, to Vice
President of Finance. Mr. Sullivan brings 17 years of accounting
and financial management experience within several different
industries, serving in increasingly responsible roles such as
controller, corporate controller and CFO. Mr. Sullivan has a BA
degree in economics from Dartmouth College and an MBA from
Northeastern University. About Segue Software Segue Software, Inc.
(NASDAQ-SCM: SEGU) is a global expert in delivering solutions to
define, measure, manage and improve software quality throughout the
entire software application lifecycle. Segue's Software Quality
Optimization(TM) (SQO(TM)) solutions help companies reduce business
risk, ensure the deployment of high quality software and increase
return on investment. Leading businesses around the world,
including many of the Fortune 500, rely on Segue's innovative Silk
family of products to protect their business service levels,
competitive edge and brand reputation. Headquartered in Lexington,
Mass., with offices across North America and Europe, Segue can be
reached at +1-781-402-1000 or www.segue.com. Segue and the Segue
logo are registered trademarks and Software Quality Optimization
and SQO are trademarks of Segue Software, Inc. All other company
names and products are either trademarks or registered trademarks
of their respective owners. This press release may contain
forward-looking statements, such as our financial projections for
2005 and beyond. Forward-looking statements are statements that
contain predictions or projections of future events or performance,
and often contain words such as "anticipates", "can", "estimates",
"believe", "expects", "projects", "will", "might", or other words
indicating a statement about the future. The Company notes that any
such forward-looking statements are subject to change and are not
guarantees of future performance, and that actual results may
differ materially from any such predictions or projections, based
on various important factors and including, without limitation, the
ability of the Company to continue to achieve positive cash flow
and sustain profitability in this difficult economic and business
climate; the ability of the Company to close large enterprise
orders; the Company's transition to a new management team; the
timing and success of introductions of our new products; market
acceptance of recently-introduced products (including SilkCentral
Test Manager 8.0) and updated releases; the effectiveness of our
additional distributors and resellers; continued growth in license
revenue; new products and announcements from other companies; the
Company's continued access to capital; and changes in technology
and industry standards. Additional information on the factors that
could affect the Company's business and financial results is
included in the Company's periodic reports filed with the
Securities and Exchange Commission.
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