06.11.2005 19:00:00
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Tumbleweed Names Craig Brennan President and CEO; Software Industry Veteran Will Focus on Customers, Revenue Growth and Shareholder Value
Under Brennan's new leadership, Tumbleweed is increasing itscommitment to becoming the dominant email security provider in thefast growing CAPJ (China, Asia Pacific and Japan) regions, as well asEurope and South Africa. Tumbleweed is placing an even greateremphasis on providing its global customers with the highest levels ofsales, service and support.
Brennan brings two decades of experience in the enterprisesoftware arena to his new position. Most recently, Brennan served aspresident and CEO of Brio Software Inc., a $100+ million publiclytraded enterprise software company. While at Brio, Brennan led acompany-wide transformation. He returned the company to profitablegrowth, resulting in the best overall operating performance for thecompany. Prior to Brio, Brennan held leadership positions at OracleCorporation, where he served as senior vice president of the CustomerRelationship Management Group, and Deloitte Consulting, where he builtand led the Siebel-CRM practice. Brennan earned an MBA fromNorthwestern University's Kellogg School of Management, and a BA fromthe University of Michigan.
"Tumbleweed is the Gold standard in the messaging securityindustry, consistently delivering powerful products for trustedbusiness communication," said Brennan. "I am excited to be joining acompany so rich in technology and industry leading products, and Ilook forward to working with this outstanding global team toaccelerate Tumbleweed's growth and long-term profitability."
In January this year, Smith, who co-founded Tumbleweed and hasserved as CEO since 1993, announced that he would step down as thecompany's president and chief executive when a successor wasappointed. He will continue to serve on the Board of Directors, andwill act as an advisor to the incoming CEO.
"I'm thrilled to have someone of Craig's experience and ability tolead the company to the next phase," said Smith. "Since announcing mydecision to step down as CEO, I've been committed to ensuring that wefind a new CEO who has just the right combination of experience,acumen and leadership. With Craig's appointment, I'm confident thatTumbleweed is in very capable hands."
About Tumbleweed Communications Corp.
Tumbleweed provides security software and appliances for emailprotection, file transfers, and identity validation that alloworganizations to safely conduct business over the Internet. Tumbleweedoffers these solutions in three comprehensive product suites:MailGate, SecureTransport, and Validation Authority. MailGate providesprotection against spam, viruses, and attacks, and enablespolicy-based message filtering, encryption, and routing.SecureTransport enables business to safely exchange large files andtransactions without proprietary software. Validation Authority is theworld-leading solution for determining the validity of digitalcertificates. Tumbleweed's enterprise and government customers includeABN Amro, Banc of America Securities, Catholic Healthcare West, JPMorgan Chase & Co., The Regence Group (Blue Cross/Blue Shield), St.Luke's Episcopal Healthcare System, the U.S. Food and DrugAdministration, the U.S. Department of Defense, and all four branchesof the U.S. Armed Forces. Tumbleweed was founded in 1993 and isheadquartered in Redwood City, Calif. For additional information aboutTumbleweed go to www.tumbleweed.com or call 650-216-2000.
Safe Harbor Statement
Tumbleweed cautions that forward-looking statements contained inthis press release are based on plans and expectations as of the dateof the press release, and that a number of factors could cause theactual results to differ materially from the guidance given at thistime. These factors are described in the Safe Harbor statement below.
Except for the historical information contained herein, thematters discussed in this press release may constitute forward-lookingstatements that involve risks and uncertainties that could causeactual results to differ materially from those projected, particularlywith respect to the functionality and performance of Tumbleweedproducts. In some cases, forward-looking statements can be identifiedby terminology such as "may," "will," "should," "potential,""continue," "expects," "anticipates," "intends," "plans," "believes,""estimates," and similar expressions. For further cautions about therisks of investing in Tumbleweed, we refer you to the documentsTumbleweed files from time to time with the Securities and ExchangeCommission, particularly Tumbleweed's Form 10-K filed March 16, 2005and Form 10-Q filed August 9, 2005.
Tumbleweed assumes no obligation to update information containedin this press release, which represents the Company's expectationsonly as of the date of this release and should not be viewed as astatement about the Company's expectations after such date. Althoughthis release may remain available on the Company's website orelsewhere, its continued availability does not indicate that theCompany is reaffirming or confirming any of the information containedherein.
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