Versata (NASDAQ:VATA)
Historical Stock Chart
From Jun 2019 to Jun 2024
Versata(R), Inc. (Nasdaq:VATA), a leading independent
provider of rapid application development platforms to automate and
manage complex, data-intensive business systems, today announced the
appointment of David Chamberlain to the post of president and CEO,
effective June 15.
Chamberlain is a seasoned industry executive who has built and
managed multi-billion dollar global business sales and services
organizations. Most recently, Chamberlain was a private investor and
advisor for local start-up technology companies. Prior to that, he was
president and CEO of WebPutty, Inc. a software company focused on
providing service-oriented architecture (SOA) platforms and
solutions-to-enterprise accounts. There Chamberlain standardized the
product architecture around industry standards and quadrupled sales in
18 months.
Earlier in his career, Chamberlain also served in pivotal
management positions at IBM Corporation, Gateway Corporation and
Novell Corporation, helping in each case to fuel growth and expand
market leadership. During his 15-year tenure at IBM, Chamberlain
oversaw the expansion of the west coast professional services
organization and served as manager of IBM's largest branch office. He
led teams in selling the IBM AS/400 and the personal computer
division's channel partner program.
Chamberlain's other successes include a stop at Gateway, where he
built an enterprise-focused counterpart to the consumer sales team.
His efforts helped grow division revenue from $800 million to more
than $2.1 billion over 22 months. After that, Chamberlain was at
Novell where he helped shift the focus from product-based selling to
solution selling. He was responsible for Novell sales and operations
in the eastern U.S. and for the federal government. Net profitability
rose 20% under Chamberlain's guidance.
"It is my great pleasure to announce that Dave Chamberlain, a
proven business leader and executive manager, will become Versata's
president and CEO," said Gary Morgenthaler, chairman of Versata. "The
company has reached an important turning point. With Dave on board,
and Versata 6(TM) in the market place, we have the team and products
in place to achieve long-term growth and sustainable market
leadership."
Morgenthaler continued: "I also want to thank Will Frederick for
stepping up to handle the CEO role during this transition period. He
is a critical member of the management team, and it will serve Versata
well to have him back handling financial strategy as our full-time
CFO. All of us on the board will work closely with him and Dave to
address the financial constraints facing the company."
"I'm honored and excited to be named president and CEO of
Versata," said Chamberlain. "Versata has all the critical elements --
great technology, dedicated employees and a strong customer base -- to
succeed and grow its business. I plan to build on Versata's past
success of helping customers use business rules to reduce the time and
costs to deploy mission critical applications, and to deliver IT
systems that can be easily modified to suit changing business and
regulatory demands. I am looking forward to the opportunity to lead
Versata through its next growth phase."
About Versata
Versata provides solutions for automating and simplifying the
building, maintenance and ongoing evolution of large, complex,
data-intensive enterprise applications. The Versata solution
effectively and efficiently replaces time intensive hand-coding
efforts with simple, intuitive business rules and graphical process
flow specification. Versata Global 2000 customers include Bank of
America, B. T., Cendant, CGI-AMS, JPMorgan Chase & Co., Meridian
Health Care Management, Merrill Lynch, and Union Bank of California.
For more information, please visit http://www.versata.com.
Versata and Versata 6 are registered trademarks or trademarks of
Versata, Inc. in the United States and other countries. Other brands
or products appearing are trademarks of their respective holder(s).
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are
subject to uncertainty and changes in circumstances. Actual results
may vary materially from the expectations contained in the
forward-looking statements. Forward-looking statements in this release
include without limitation, statements regarding, Versata's
opportunity to achieve long-term growth, sustain market leadership,
and develop its business worldwide. These statements are not
guarantees of future performance and actual results could differ
materially from company's current expectations. Factors that could
cause or contribute to such differences include, but are not limited
to: inability to achieve market acceptance, inability to grow
successfully, inability to retain key employees, declining revenue and
other risks detailed in the Company's registration statement and
periodic reports filed with the Securities and Exchange Commission. As
a result, actual results may vary, perhaps materially, from those
contained in the forward-looking statements. All forward-looking
statements included in this press release are based upon information
available to the company as of the date hereof, and the company does
not assume any obligation to update such statements or the reasons why
actual results could differ materially from those projected in such
statements.