HAYWARD, Calif., April 1, 2002 - Certicom Corp. (Nasdaq: CERT; TSE: CIC), a leading provider of mobile e-business security, today named Hervé Séguin to the position of Chief Financial Officer as part of a relocation of the CFO position to Certicom's Mississauga, Canada office. Mr. Séguin, who brings to the Company more than 25 years of finance and management experience, will oversee all financial operations and treasury functions, reporting to Ian McKinnon, President and CEO. Gregory Capitolo, Certicom's former CFO, decided not to relocate to Mississauga for personal reasons but will remain with Certicom in an advisory role for several months to ensure a smooth transition of the CFO position.
"We are grateful to Greg for his contribution to Certicom over the past months. His efforts were key to the significant reduction of the company's burn rate, the successful transition of the company to a subscription-based business model and our ability to exceed guidance for three consecutive quarters in an economic downturn," said Ian McKinnon, President and CEO of Certicom. "We wish him all of the best in his future endeavors."
Mr. Séguin has extensive senior financial management and operations experience in the software sector, including six years as CFO of Promis Systems Corporation (TSE: PSW) of Toronto, Ontario. At Promis, Mr. Séguin worked closely with Mr. McKinnon, Promis' CEO, in the years when the company's revenue increased 22% compounded annually, after completing a successful turnaround. During his tenure at Promis, Mr. Seguin orchestrated several rounds of public equity financings and was awarded a prestigious Investor Relations Magazine Award. Most recently, Mr. Séguin was CFO of DWL Incorporated, a CRM software development company, where he completed the largest cross-border high technology private financing in Canada in 2001. Prior to that, he was CFO of Infocast Corporation, a U.S. publicly traded Internet infrastructure company, where he transitioned the company to a new business model and raised equity in a bear market.
"I am delighted to have Hervé join the company as a key member of the senior management team," said Mr. McKinnon. "He is a seasoned financial executive who has a wealth of experience in transition and growth management, fund raising and strategic planning. Hervé also brings with him a great deal of operations experience, which is key to Certicom as the company moves towards profitability."
Certicom is a leading provider of information security software and services, specializing in solutions for mobile e-business. The company's products and services are specifically designed to address the challenges imposed by a wireless data environment. Certicom's solutions incorporate its efficient encryption technology and are based on industry standards for information security that utilize public-key cryptography. Certicom's products are currently licensed to more than 300 customers including Cisco Systems, Inc., Handspring Inc., Motorola, Inc., Nortel Networks, Openwave Systems, Inc., Palm, Inc., QUALCOMM, Inc., Research In Motion Ltd., Sony International (Europe) GmbH, and Verizon Communications Inc. For more information, visit Certicom's Web site at http://www.certicom.com.
Certicom is a trademark of Certicom Corp. All other companies and products listed herein are trademarks or registered trademarks of their respective holders.
Except for historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to, those relating to the acceptance of mobile and wireless devices and the continued growth of e-commerce and m-commerce, the increase of the demand for mutual authentication in m-commerce transactions, the acceptance of Elliptic Curve Cryptography (ECC) technology as an industry standard, the market acceptance of our principal products and sales of our customer's products, the impact of competitive products and technologies, the possibility of our products infringing patents and other intellectual property of fourth parties, and costs of product development. Certicom will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect Certicom's financial results is included in the documents Certicom files from time to time with the Securities and Exchange Commission and Canadian securities regulatory authorities.
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