Activcard Names George Garrick As Chief Executive Officer
Digital Identity Management Software Provider Appoints Proven Industry Leader
FREMONT, California, September 17, 2003–ActivCard® (NASDAQ: ACTI), a provider of Identity Management software for secure remote access, secure sign-on and digital ID card solutions, today announced the appointment of George Garrick as Chief Executive Officer, commencing October 1, 2003, as well as his election to the Company’s Board of Directors.
Mr. Garrick brings a wealth of experience in driving success and high growth in technology companies and a record of results throughout 20 years of leadership in global executive management positions. Most recently, Mr. Garrick served as Chairman, President and CEO of Placeware, Inc., until its acquisition by Microsoft Corp. in April 2003. Placeware is the world’s leading provider of web conferencing software and hosted services that enable businesses to conduct real-time, interactive presentations, meetings and other collaborative multi-media communications over the Internet. PlaceWare’s customers and end-user companies include many of the Fortune 500 as well as the U.S. Department of Defense. He successfully restructured the company’s product lines, opened new distribution channels, launched aggressive new marketing and sales programs, and achieved over 20% in revenue growth within 12 months prior to the sale to Microsoft.
Previously, Mr. Garrick was chairman, president and CEO of Flycast Communications, joining as a startup and growing the organization into the Internet’s leading direct-response advertising company. At Flycast, Garrick expanded annualized revenues from $2 million to over $40 million in less than a two-year period, took the company public for $500 million, and then sold it for $2.3 billion. Throughout much of Mr. Garrick’s earlier career, he served in various executive positions with Information Resources, Inc. (IRI), a publicly held company addressing the marketing information analysis and related software technology needs of Fortune 1000 clients.
Throughout the 1980s to the early 1990’s, Garrick held global positions with IRI, and was named IRI-CEO for North America in 1993. Garrick’s international management experience includes his launching of IRI’s services into the UK, France, Germany, Netherlands and Turkey, while living in London. He left in 1996 to pursue opportunities in Silicon Valley after building the North American unit to $270 million in revenues, and concurrently expanding to over 3000 employees. In 1993, Mr. Garrick was president and CEO of the A.C. Nielsen Company, with nearly $300 million in revenues and over 3500 employees.
“George’s extensive expertise in marketing, sales, and the global software sector is an ideal fit for expanding ActivCard’s delivery of digital identity solutions to the marketplace, continuing our commitment to quality solutions for our customers and building a market-leading company,” said Steven Humphreys, current CEO of ActivCard, who will be remaining on the Board of Directors following Mr. Garrick’s appointment. “George brings a broad international background and proven track record in driving aggressive growth. His ability to build effective management teams, establish category-leading businesses, identify and respond to customer and marketplace opportunities, and execute across global markets will unleash the full potential of our best-of-breed identity solutions.”
“With its technology expertise and fundamental financial strength, I’m pleased to be part of shaping the next phase of the Company. The convergence of it’s strong technology, and a rapidly increasing demand for digital identity solutions that confirm users are who they say they are online, positions ActivCard to become the de facto standard in securing the foundation of electronic communications,” stated Garrick. “I’m truly excited about joining the ActivCard team, and to further establishing our products as universally adopted business tools at the center of commerce–in corporate, government and financial transactions.”
“The selection of George Garrick followed an extensive search. Among a field of excellent candidates, he clearly was the strongest, and is very well suited to the specific opportunities and needs at ActivCard,” said James E. Ousley, chairman of the nominating committee of ActivCard’s Board of Directors. “We’re extremely pleased that George has accepted the opportunity at ActivCard. We’re confident that his leadership will result in the establishment of ActivCard as the clear leader in the new category of strongly authenticated identity management, as well as help us expand into new and complementary product and service areas which take advantage of ActivCard’s assets and core competencies.”
Mr. Garrick holds dual B.S. degrees in Engineering and Mathematics, and an M.S. in Management from Purdue University.
ActivCard, http://www.activcard.com, is the leader in IDentity Management (IDM) software for remote access, secure sign-on and digital ID card solutions. Our scalable IDM and strong authentication solutions are trusted by organizations–from enterprise to governments around the world. ActivCard IDM systems deliver maximum Return On Identity™ (ROI) through increased security, reduced cost, and user convenience. The modular product design allows our customers to add capabilities as required, preserving their investment.
The statements in this press release that are not historical facts are forward-looking statements that involve risks and uncertainties, including risks associated with fluctuations in operating results, our history of losses, the concentration of our customer base, our reliance on strategic relationships, acquisitions and managing our future growth, and other risks identified in our periodic filings with the United States Securities and Exchange Commission, including but not limited to those appearing under the caption “Risk Factors” in our Quarterly Report on Form 10Q for the fiscal quarter ended on June 30, 2003. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ActivCard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. ActivCard is a registered trademark of ActivCard in the United States and/or other countries. All other trademarks are the property of their respective owners in the United States and/or other countries.
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