Ariba Names Jim Frankola as Chief Financial Officer
SUNNYVALE, Calif., Dec 4, 2001 /PRNewswire via COMTEX
Ariba, Inc., (Nasdaq: ARBA chart, msgs) the leading enterprise spend management solutions provider, today announced it has appointed Jim Frankola to executive vice president and chief financial officer (CFO). Frankola joins Ariba with over 10 years of financial management experience, from IBM and most recently from Avery Dennison, where he served as vice president of Finance and Business Development, for Fasson Roll Worldwide, Avery Dennison's largest business unit. Frankola succeeds former CFO, Robert Calderoni, who was named president and chief executive officer last month.
"Jim is a seasoned finance executive with strong financial leadership and management skills and a solid track record at companies with demonstrated growth and operational excellence," said Calderoni. "We are delighted to add an executive of his caliber to the Ariba team and look forward to his expertise and leadership as we focus aggressively on Ariba's growth and profitability."
Reporting directly to Calderoni, Frankola will have responsibility for operations control, financial reporting, planning and business analysis, treasury, investor relations, information systems, legal, real estate and mergers and acquisitions.
"As someone who has been responsible for making strategic decisions on purchasing and operation management for many years, I am excited to become part of a company so focused on helping its customers manage spend and save money," commented Frankola. "Today companies are in great need of solutions like Ariba's. I'm confident that this focus on customer satisfaction, as well as Ariba's strong product offerings and talented staff, will enable us to grow over the long term. I am eager to begin contributing to Ariba's continued success."
Prior to joining Ariba, Frankola held a number of financial executive positions at Avery Dennison, where he was responsible for financial reporting, financial planning, strategy, IT operations and development, and mergers and acquisitions. Before Avery, Frankola held a number of finance positions at IBM. Frankola is a certified public accountant and has an M.B.A. in international finance from New York University, and a B.S. in accounting from Pennsylvania State University.
About Ariba
Ariba, Inc., is the leading Enterprise Spend Management (ESM) solutions provider. Ariba solutions are designed to specifically address the needs of the chief financial officer and chief procurement officer (CPO). Ariba Spend Management solutions provide a single point of visibility and control allowing companies to engage, manage, and leverage the entire spend lifecycle from analysis, through sourcing, to procurement across the enterprise, while providing systematic measurement, tracking and reporting of best practices. Ariba can be contacted in the U.S. at 650-390-1000 or at www.ariba.com. |
