fyi
This note was sent to all Harbinger employees today. Mr. Howle asked that I
also send it to our analysts and shareholders on our Shareholder
Distribution list.
> -----Original Message-----
> From: Tycho Howle
> Sent: Monday, March 15, 1999 12:38 PM
> To: #All Harbinger Worldwide Team Members
> Subject: Letter to employees
>
>
> Today we are announcing that Jim McCormick is joining Harbinger as our new
> CFO, taking over the position held these last five or so years by Joel
> Katz. As I have noted, Harbinger's needs in the finance and accounting
> area have changed recently with our increased focus on operational
> excellence and emphasis on improved corporate infrastructure. I believe
> that Jim's experience makes him uniquely qualified to help out in this
> area.
>
> Jim began his career at Arthur Andersen where he worked for six years in
> the US and Australia. The last two years were spent with Andersen
> Consulting focusing on organizational structuring, profit improvement, and
> mergers and acquisition planning. And in the small world category, Jim
> led an audit assignment many years ago on which he had a new recruit to
> the firm from the Univ of Georgia named Joel Katz.
>
> Jim was most recently CFO of Knowlogy Holdings, Inc. a Broadband telecom
> company providing video, voice, and data services based here in Georgia.
> He has relevent experience in many areas, but in particular, he has a
> strong financial systems background, including the installation of the
> same ERP system Harbinger is deploying. And as noted, we do not have a
> more critical focus for our Company these days.
>
> Turning to Joel for a moment, in past weekly updates, I have noted that
> the desires and needs of of our employees and the needs of the Company
> sometimes diverge over time. While acknowledging that fact can be sad
> (and in some cases cause friction and acrimony), if handled correctly, it
> can be a good situation all around. So it is with Joel, I believe.
>
> I noted Harbinger's change in focus above. Likewise, Joel has determined
> that his preference is to work with an earlier stage company and help it
> grow from that stage as he did Harbinger. He has made enormous
> contributions during his tenure at Harbinger. He has been a close
> personal friend and I expect him to remain so. I asked him to reflect on
> his change and he did in the note below.
>
> Please welcome Jim McCormick to the Harbinger team and wish both he and
> Joel well as each moves into the next phase of their career.
>
> ---------------------------
>
> To the Harbinger Team:
>
> When I first met Harbinger in the mid-eighties as an auditor for Arthur
> Andersen, I noted that the Harbinger audit engagement was very different
> from the others. Each year when I would return for the audit, I noticed
> the team had grown substantially and that there were a lot of bright
> people with a much higher level of energy than I noticed at my other
> accounting clients. Deciding that this would be a great place to launch
> my career outside of Public Accounting, I joined Harbinger EDI Services in
> 1990 when Tycho convinced the Board that the Company could justify the
> overhead of a Controller. At that time, Harbinger EDI Services, which
> later changed its name to Harbinger Corporation, was approximately $3
> million in revenue and had about 60 employees.
>
> During my last eight years with the Company, that energy and growth has
> been constant. Fourteen acquisitions and $132 million in revenue later,
> Harbinger has become a leader in its space, and is leading the way
> businesses will conduct commerce electronically in the future. There are
> few aspects of the last eight years that I would change, and I could not
> have asked for a finer team of highly ethical, honest, hard working and
> intelligent professionals to have been associated with.
>
> Last fall I discussed with Tycho my desire to pursue entrepreneurial
> interests, and he was supportive. Before I left, I wanted to help us make
> substantial progress on the infrastructure projects as well as assist in
> finding the right replacement. I believe that Jim McCormick has the
> skills and experience to not only continue the great progress we have
> recently made to Harbinger's infrastructure, but also the financial
> management skills to take Harbinger to over $500 million in revenues. I
> will continue full time with Harbinger through April 2, and will be
> available beyond that to transition as needed.
>
> Leaving Harbinger will be in many ways like leaving a family. I am
> grateful to Tycho for the professional growth opportunity, guidance and
> support he has given me over the last eight years. I am also thankful for
> having the opportunity to work with so many talented co-workers. I
> believe that the Company's change in focus over the last six months is the
> right one, and that with its strong senior management team, talented
> employees and strong market position, the Company's future is very bright.
> After leaving the Company, I will continue to have the majority of my net
> worth in Harbinger stock.
>
> I will continue to stay in touch with the Harbinger team in the future and
> wish you all the very best.
>
> Joel |
