New CFO:
Tuesday June 2, 8:01 am Eastern Time
Company Press Release
SOURCE: Novell, Inc.
Novell Announces Appointment of Dennis Raney as Senior Vice President And Chief
Financial Officer
PROVO, Utah, June 2 /PRNewswire/ -- Novell, Inc. (Nasdaq: NOVL - news) today announced the appointment of Dennis R. Raney as Senior Vice President
and Chief Financial Officer, reporting to Novell chairman and CEO Dr. Eric Schmidt. Raney has responsibility for finance, corporate facilities and information
systems worldwide.
''Dennis Raney brings the knowledge and experience to apply strong financial controls and systems necessary in a well-managed, growing, billion dollar global
business,'' said Schmidt. ''He offers exceptional insight into the systems and processes needed to continue the improvement underway in every aspect of
Novell's business. He makes another great addition to Novell's new executive team.''
Raney has held CFO positions at General Magic, California Microwave and most recently, QAD Inc [Nasdaq:QADI - news]. Prior to this, Raney, who is 55,
spent 23 years at Hewlett-Packard in finance, international and real estate assignments responsible for financial management of multi-billion dollar segments of
Hewlett-Packard's business. After leaving H-P, he served as senior vice president and CFO at Bristol-Myers Squibb Pharmaceutical Group, with annual
revenue of $7 billion.
''There is a tremendous opportunity to align Novell's business with benchmarks for financial performance that define value in leading companies across our
industry,'' said Raney. ''With the discipline of expense controls and benefit of growing revenue, Novell will be capable of delivering the earnings performance
and business value that our shareholders expect.''
Raney first joined Novell as interim CFO in March, 1998.
About Novell, Inc. |
