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AXS-One Appoints Software Industry Veteran as New Chief Executive
Officer
William P. Lyons, 20-Plus Year Software Veteran, to Begin Immediately
RUTHERFORD, N.J., April 30 /PRNewswire-FirstCall/ -- AXS-One Inc. , a global
leader in business process automation and information management, today
announced that William P. Lyons has been appointed to the position of President
and Chief Executive Officer, as well as a director. Bill Lyons replaces John A.
Rade, who, as previously announced, is retiring after seven years with AXS-One
but will remain with the company as a non-executive employee.
Mr. Lyons joins AXS-One after serving as chief executive in high growth
software companies for large enterprise markets. In his last assignment he
served as President and CEO of Caminus Corporation, a publicly traded, leading
provider of integrated enterprise software applications to the global energy
industry where he established partnerships with Accenture, Bearing Point, IBM,
Oracle and others. Previously, Mr. Lyons served as Chief Executive Officer of
numerous software companies in both the public and private marketplace
including Ashton-Tate, ParcPlace Systems, Finjan Software and NeuVis. Each of
these companies focused on large enterprise customers and Lyons has routinely
concentrated on meeting sales goals by developing effective partnerships with
technology partners, Resellers or System Integration partners. Prior to his
software executive positions, Lyons spent 18 years at the IBM Company in
various sales and marketing roles culminating as Vice President of Worldwide
Software.
As a material inducement for Mr. Lyons to accept the position with AXS-One, and
in order to align Mr. Lyons' interests more closely with those of the company's
stockholders, AXS-One's independent Compensation Committee has approved the
grant to Mr. Lyons of stock options to purchase an aggregate of 900,000 shares
of AXS-One common stock. Of these options, options to purchase 125,000 shares
were granted outside of the company's existing stock option plans and without
stockholder approval due to a limitation on the number of shares available for
the granting of options under those plans. All of the options granted to Mr.
Lyons have an exercise price equal to the closing price of the company's common
stock on the American Stock Exchange on the date of grant (April 28), vest in
four equal annual installments of 25% commencing on the first anniversary of
the date of grant (subject to special vesting rules in the case of early
termination during the first twelve months or upon a change of control of the
company) and have a 10-year duration.
Elias Typaldos, AXS-One's chairman of the board, commented, "Bill brings
significant sales and brand marketing experience to AXS-One as he has led both
young and more mature companies in dynamic and global enterprise markets.
Bill's detailed knowledge of marketing and both the direct and channel sales
functions, coupled with his leadership abilities, will prove invaluable as
AXS-One continues to communicate the importance of compliance with electronic
communication and differentiates itself from the competitive landscape in the
global enterprise and compliance markets in order to achieve its growth
potential. I am excited at the opportunities before us."
Mr. Lyons commented, "Businesses are searching for ways to ensure compliance
with the multitude of new regulations and auditor protocols. AXS-One has a
unique and effective technological solution for meeting those requirements in
the global markets. We will be demonstrating our products and our value
proposition to prospective clients and I am sure will make significant inroads
into this emerging market."
Mr. Typaldos concluded, "While we are excited with the opportunities and
potential Bill brings to the Company, the Board of Directors and employees want
to also recognize John Rade for positioning the company for a smooth
transition. John has played a critical role in our turnaround, and leaves
AXS-One a much stronger and better positioned company thanks to his efforts."
AXS-One completed its 11th consecutive quarter of profitability on March 31,
2004. During the quarter ended March 31, 2004, it increased license revenue by
98 percent over the comparable 2003 quarter and was recognized as a leading
visionary in the Integrated Document Archival and Retrieval Systems (IDARS) and
E-Mail and Instant Messaging (IM) Archival and Compliance markets by a leading
industry analyst.
About AXS-One Inc:
AXS-One (AMEX:AXO) is a leading provider of records management, email and
instant messaging archival management, financial management, and workflow
software to efficiently manage complex business processes. AXS-One has
implemented high-volume, interoperable, scalable, and secure business solutions
for the global 2000. Its Web Services-based technology has been critically
acclaimed as best of class. The AXS-One Compliance Platform Solutions provide
fast deployment of e-mail/instant messaging archival solutions for regulatory
compliance and operational efficiency. AXS-One has offices in worldwide,
including Australia, Canada, Singapore, United Kingdom, United States, and
South Africa. AXS-One was founded in 1978, and is headquartered in Rutherford,
New Jersey, U.S.A. For further information, visit the AXS-One web site at
http://www.axsone.com/.
This press release contains forward-looking statements. Such statements are
only predictions and actual events or results may differ materially. All
forward-looking statements involve risks and uncertainties, including, without
limitation, the risks detailed in the company's documents and reports filed
from time to time with the Securities and Exchange Commission.
AXS-One, the AXS-One logo, "Access Tomorrow Today," AXSPoint, and TransAXS are
registered trademarks of, and e-Cellerator, AXS Desk, "AXS-One Collaboration
FrameWorks," SMART, Tivity and AXS-Link are trademarks of, AXS-One Inc., in the
U.S. All other company and product names are trademarks or registered
trademarks of their respective companies.
For further information, please contact: Company, Bernard Cassidy of AXS-One
Inc., +1-201-372-6231, ; or Investors, Matthew Hayden of Hayden Communications,
Inc., +1-858-456-4533, , for AXS-One Inc.
DATASOURCE: AXS-One Inc
CONTACT: Bernard Cassidy of AXS-One Inc., +1-201-372-6231,
; or Investors, Matthew Hayden of Hayden Communications,
Inc., +1-858-456-4533, , for AXS-One Inc.
Web site: http://www.axsone.com/