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New senior management additions bring proven experience to lead company's long-term growth in Contract Lifecycle Management industry San Jose, Calif. - Jan. 4, 2007 - Selectica (NASDAQ: SLTC), a leading provider of enterprise contract lifecycle management solutions, continues to build out a management team with deep domain expertise in the contract lifecycle management industry. Today the company announced the appointment of Sumit Bando, Doug Bell and Jason Stern to executive management positions at the company. |
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The new additions signify further progress in Selectica's new strategic focus and aggressive growth plans to capture a larger share of the estimated $1.2 billion contract lifecycle management industry. In September, the company began its transformation by hiring Terry Nicholson, Chief Operating Officer, to lead the sales, marketing and business development of Selectica's contract management solutions. A recognized industry veteran, Nicholson has been part of the contract lifecycle management industry since its genesis, and from 2000 to 2004 served as Chief Operating Officer of I-many, Inc. |
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"We are excited to have this experienced and capable management team on Board to help lead Selectica in its next growth phase," said Stephen Bennion, Chairman and Chief Executive Officer of Selectica. "As we continue to establish Selectica as a contract management industry leader, these appointments will help us speed decision-making and bring new resources to bear in critical areas that will enable us to expand our solution footprint and lead the organization in an exciting new direction." |
The new executive management team members are:
Sumit Bando, Chief Technology Office, Contract Management Solutions
Sumit Bando was promoted to Chief Technology Officer and is responsible for the technical vision and delivery of the Selectica Contract Performance Management product line. Bando joined Selectica following the company's 2005 acquisition of Determine Software, where he was the senior director of engineering and architect of its contract management product. Bando has more than 20 years of Technology experience and previously led Technology teams at Bell Labs, Apple and Sun Microsystems. He also founded and subsequently sold one of the earliest Internet companies in India.
Doug Bell, Vice President of Marketing
As Vice President of Marketing, Doug Bell will lead all marketing initiatives for Selectica, including direct marketing, public relations, analyst relations and product and customer marketing. Prior to joining Selectica, Bell managed Ariba's Solutions Marketing organization for the Ariba Supplier Network and EIPP solution areas. Previously, he was the Director of Product Marketing at I-many, where he led market analysis, product marketing and strategic planning activities for the company's Enterprise Contract Management and Revenue Commitment Management solutions. A 17-year Technology veteran, Bell brings to Selectica a proven track record of creating highly focused and successful go-to-market programs that deliver rapid and sustainable pipeline growth.
Jason Stern, Vice President of Solutions
Jason Stern joins Selectica as Vice President of Solutions where he will direct the development of the company's Contract Performance Management platform and is responsible for the complete product lifecycle, including business cases, requirements, prioritization, launch activities and training. Prior to Selectica, Stern was Vice President of Product Management at I-many. Stern has more than 10 years of Technology experience and brings a sterling reputation for product management, development, technical operations and business management, including stints at Oracle and Cisco Systems, and has a deep history of delivering high-quality, innovative solutions that provide lasting value.
About Selectica, Inc.
Selectica, Inc. (NASDAQ: SLTC) provides its customers with software solutions that automate the complexities of enterprise contract management and sales configuration lifecycles. The company's high-performance solutions underlie and unify critical business functions including sourcing, procurement, governance, sales and revenue recognition. Selectica has been providing innovative, enterprise-class solutions for the world's largest companies for over 10 years and has generated more than $500M in savings for its customers. Selectica customers represent leaders in manufacturing, technology, healthcare and telecommunications, including: ABB, Alcoa, Applied Bio Systems, Bell Canada, Cisco, Dell, General Electric, Fireman's Fund Insurance Company, Hitachi, International Paper, Juniper Networks, Rockwell Automation, Seton Hospital, Tellabs, Time Warner, Triad Hospitals and 7-Eleven. Selectica is headquartered in San Jose, CA. For more information, visit the company's Web site at www.selectica.com.
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