SAN DIEGO, Aug. 12, 2005 (PRIMEZONE) -- Spescom Software, Inc. (OTCBB:SPCO) today announced that Mr. Keith Stentiford has been appointed interim Chief Executive Officer effective August 16, 2005. Mr. Stentiford joined the company earlier this year as Vice President, Business Development.
Mr. Stentiford replaces Carl Mostert, who has resigned as Chief Executive Officer and as a Director of the Company to pursue other interests.
Commenting on the appointment Michael Silverman, Chairman of the Board of Directors of the Company, said, "The Board has appointed Keith Stentiford as interim Chief Executive Officer based on his extensive business experience in complex solutions, particularly in the vertical markets that are critical to Spescom's future success, as well as his experience in developing business relationships with large enterprises and partners."
Mr. Silverman added: "Although he has been with the Company for only a short time, the Board has been impressed with his progress to date in developing relationships with customers and potential customers. I believe Keith's experience at Siemens and his general management, business development and leadership abilities will better enable the Company to capitalize on its full potential."
"I originally decided to join Spescom earlier this year because I was impressed with the Company's technology and people," stated Mr. Stentiford. "Since then I am even more impressed with the capability of the Company's products and solutions. I believe that Intelligent Information Management is the next corporation bottom line driver. Process improvement initiatives have mostly exhausted the traditional avenues of work flow optimization. I believe that in the future, enterprises will concentrate on information and data management as the next wave of improvement in business operations. My objective is to position the Company to capitalize on these opportunities. I look forward to the challenge of growing the Company and enabling it to realize its full potential."
Prior to joining Spescom Software, Keith worked at Siemens for over 28 years in various senior business development and general management positions. He served as Vice President in the Siemens Transportation and Systems Company, responsible for the Americas Turnkey Business Operations for the past five years. Prior to that Keith was Business Unit Director of the Oil, Gas and Petrochemical Group out of Houston, Texas. He also served as Director of The International Business Development Group, where he was responsible for coordinating Siemens' worldwide activities in the Oil and Gas Sector for customers based in the United States.
About Spescom Software
Spescom Software is a developer and marketer of leading-edge content and configuration management software solutions for complex applications in energy, homeland security, defense and other sectors that provide the unique ability to manage disparate types of content and other data on a single platform. The Company's proprietary eB platform provides extensive enterprise content management (ECM) functionality, together with best-of-breed configuration management capabilities. These capabilities enable the secure capture and storage of both structured and unstructured information, in addition to the ability to organize, control and manage this information. Spescom's eB software solution revolutionizes data management through an innovative new paradigm of data management that re-invents how organizations store, track, access, and use their enterprise's data to maximize efficiency and guarantee accuracy and integrity of the data. Key customers include Constellation Energy, Continental Express, AmerenUE, Cities of Las Vegas and Dayton, Lloyds Register, United Space Alliance, Entergy, Northeast Utilities, London Underground, Network Rail, and many others. The Company is headquartered in San Diego, Calif., with an international sales and support center in London, England.
Cautionary Statement
Except for historical information contained herein, the matters set forth in this release include forward-looking statements that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory environment, the effect of the Company's accounting policies, potential seasonality and other risk factors detailed in the Company's SEC filings. For a discussion of additional risk factors relating to Spescom's business, see Spescom's annual report on Form 10-K for the fiscal year ended September 30, 2004 and quarterly reports on Form 10-Q for the quarter ended March, 2005, including the discussion in Management's Discussion and Analysis of Financial Condition and Results of Operations contained therein.