WELLINGTON, New Zealand, Sept. 28, 2015 (GLOBE NEWSWIRE) -- Diligent Corporation (NZX:DIL) ("Diligent" or the "Company"), the Software-as-a-Service (SaaS) based platform for the secure electronic production, distribution and collaboration of confidential information for boards, committees and leadership teams, today announced that Greg Petersen will resign his position as Executive Director and Executive Vice Chairman of Diligent, effective Thursday, October 1, 2015 (US ET). Petersen will remain an active board member, transitioning back to his previous responsibilities as a Director and Chairman of the Board's Audit and Finance Committee, in addition to continuing to serve on Diligent's Compensation Committee.
"On behalf of the Board and management team, I want to thank Greg for his partnership and valuable strategic contributions to Diligent's success," said David Liptak Chairman of the Board. "Over the past year, as Executive Vice Chairman, Greg has played an important role in both improving our operations and advancing Diligent's leadership position in the market. As a Director, the Board will continue to benefit from Greg's deep industry knowledge and expertise, and I am excited to continue working with him as we further expand the company."
During his time as Diligent's Executive Vice Chairman, Petersen's comprehensive expertise in Software-as-a-Service, and the software industry in general, provided significant value to the wider Diligent Board of Directors. Prior to serving in that capacity, Petersen acted as a Director and Chairman of the Audit and Finance Committee for Diligent from April 2013 to September 2014. Petersen was also a member of the Company's Compensation and Nominations Committees prior to his work as Executive Vice Chairman.
"With the additions of Brian Stafford as Chief Executive Officer and Michael Stanton as Chief Financial Officer, as well as the other strong executive management hires we've recently made, I believe Diligent has the right leadership team in place to lead us during our next stage of growth," Petersen said. "I am more confident than ever that the company will continue to perform at high levels, as our management team and market position have never been stronger. I look forward to working with these impressive executives in my new capacity."
About Diligent
Diligent is the leading provider of secure corporate governance and collaboration solutions for boards and senior executives. Over 3,300 clients in more than 60 countries and on all seven continents rely on Diligent to provide secure, intuitive access to their most time-sensitive and confidential information, ultimately helping them make better decisions. The Diligent Boards (formerly Diligent Boardbooks) solution speeds and simplifies how board materials are produced, delivered and collaborated on via any device, removing the security concerns of doing this by courier, email and file sharing. Diligent is a publicly listed company (NZX: DIL) with nearly $US 100 million in annual recurring revenue, based on previously reported revenue retention rates. Visit www.diligent.com to learn more.
Safe Harbor Statement
Statements made in this press release that state Diligent's or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements are only predictions and may differ materially from actual future events or results. All forward looking-statements are only as of the date of this press release and Diligent undertakes no obligation to update or revise them. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Diligent's actual results to differ materially from those projected in such forward-looking statements. For example, if our new products and features do not fit with our customers' needs, our financial performance and revenue growth may suffer. Factors which could cause our actual results to differ materially from those projected in forward-looking statements include, without limitation, economic, competitive, regulatory and technological factors affecting Diligent Corporation's operations, markets, products, services and other factors set forth in the Company's Risk Factors included in its Annual Report on Form 10-K filed with the SEC on March 16, 2015.