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Subject: Arbortext Selects Raymond Schiavone as New President and CEO
Arbortext Selects Raymond Schiavone as New President and CEO Ann Arbor, Mich, August 20, 2001 – Arbortext, Inc., the only global provider of XML-based software that enables the creation, editing and publishing of information from a single-source of content to multiple media types, today named Raymond Schiavone as its new President and Chief Executive Officer. The announcement was made by Arbortext co-founder Jim Sterken. Effective immediately, Schiavone succeeds Jim Sterken, who is returning to what he enjoys most – leading Arbortext’s software engineering team. Says Sterken, “Ray brings to Arbortext an outstanding combination of big-business sophistication and entrepreneurial zeal. With his experiences at GE and TPN Register (TPNR), he is uniquely qualified to lead Arbortext through our current growth phase and reinforce our leadership in single-source multichannel publishing. We’re delighted to welcome Ray to the Arbortext team.” Most recently, Schiavone was President of TPNR, a joint venture formed by General Electric’s Global eXchange Services and Thomas Publishing that provides interactive catalog content management services for e-procurement, e-marketplaces and online industry exchanges. Under Schiavone’s leadership, TPNR evolved from concept to market leader serving Fortune 500 companies. Prior to TPNR, Schiavone served for more than ten years in executive sales, marketing and business development positions in GE business units serving Europe and the Americas. A graduate of GE’s prestigious Corporate Audit Staff and Information Management Leadership Program, Schiavone holds a Master’s of Business Administration from the University of Maryland and a Bachelor of Science degree in computer science from Syracuse University. Said Promod Haque, General Partner at Norwest Ventures and lead investor in Arbortext, “Arbortext’s ability to attract a senior executive with the credentials and stature of Ray Schiavone further fortifies our confidence in this fine company. We’re excited to see Arbortext’s continued growth in multichannel publishing, an area that Adobe and Corel have both staked out for its enormous potential. With Ray at the helm, we expect that Arbortext will maintain and extend its market leadership in this area.” Commenting on his new position, Schiavone said, “I am thrilled to join Arbortext, an organization with talented people, innovative technology, impressive customers and a tremendous market opportunity. Arbortext’s ability to help companies boost their information quality while slashing costs is proving irresistible to organizations that must do more with less. This is evidenced by their continued growth in the face of this challenging economy. I’m looking forward to building on their momentum with single-source multichannel publishing solutions and expanding the company’s role in providing Global 2000 organizations with the ability to deliver information instantly to any customer at any time in the format of their choice.” Married with two children, Schiavone will relocate with his family to Ann Arbor, Michigan, from Rockville, Maryland. About Arbortext Arbortext is the only global provider of XML-based software that enables the creation, editing and publishing of information to multiple media types – Web, print, CD-ROM, wireless – from a single source of content. Shipping since 1991, Arbortext’s standards-based software supports technical publishing, reference publishing and catalog publishing applications that enable enterprises to provide more accurate, cost-efficient, complete, timely, consistent and usable information on all media. Arbortext’s software is installed at over 3,500 customers, including over 300 of the Global 2000 companies. Current customers include AT&T, Audi, Boeing, British Aerospace, Caterpillar, DaimlerChrysler, Ericsson Telecom, Ford, GM, IBM, Lucent, Nokia, Nortel Networks, Qantas, Ricoh, Sun Microsystems, International Thomson Publishing, United Airlines, Volkswagen, Volvo and West Group. Arbortext is a founding member and active participant in the XML Activity of the World Wide Web Consortium (W3C). Headquartered in Ann Arbor, Michigan, USA, Arbortext has offices around the world. For more information please visit http://www.arbortext.com. # # # # Contacts: Beth Ambaruch Angela von Ruden Arbortext, Inc. Phase Two Strategies Ph: +1 734.327.6014 Ph: +1 212.530.7553 bea@arbortext.com avonruden@p2pr.com
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