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Wednesday November 17, 8:10 am Eastern Time
Company Press Release
Concur Forms Large Market and Small and Middle Enterprise Divisions
REDMOND, Wash.--(BUSINESS WIRE)--Nov. 17, 1999--Concur Technologies, Inc. (Nasdaq:CNQR - news), a leading provider of workplace eCommerce solutions, announced today the formation of two new divisions to more effectively bring its workplace eCommerce solutions to a broad range of customers across the small, middle and large markets.
The company also announced that the board of directors has appointed Concur's chief executive officer, Steve Singh, to chairman of the board.
Effective immediately, Jon Matsuo has been promoted to president of the Large Market Division. Matsuo will concentrate on expanding the success of the Concur eWorkplace and Concur eWorkplace ASP business portals across the Global 4000 market. Additionally, Bruce Chatterley has been promoted to president of the Small and Middle Enterprise (SME) Division. Chatterley will focus on developing the Concur eWorkplace.com product portfolio and next-generation electronic commerce applications across the small and middle markets. Both Matsuo and Chatterley will report directly to Singh.
''By forming these divisions, we have positioned ourselves to more effectively meet the needs of customers across all markets -- from companies with 50 employees to companies with 250,000 employees,'' said Steve Singh, chairman and chief executive officer of Concur. ''Jon and Bruce have been instrumental in building Concur into a global leader in the workplace eCommerce market. Both will play a pivotal role in Concur's future accomplishments.''
Concur also announced the addition of Michael Eberhard to executive vice president of worldwide sales. Eberhard succeeds Matsuo and brings more than a decade of experience in large market enterprise solution sales to Concur. He has held senior management positions for a number of technology companies including PeopleSoft, Dunn & Bradstreet Software, and Canon USA. Most recently, Eberhard served as vice president and general manager of sales for one of the most successful divisions at PeopleSoft, representing nearly one-third of the company's revenue. Eberhard holds a bachelor's degree in Finance from Providence College. He will report to Matsuo.
Additionally, Concur has appointed Ajay Kela to executive vice president of research and development. Kela will lead Concur's product development group and is responsible for overseeing continued delivery of all of the company's applications and solutions. Kela brings over a decade of experience to the position, most recently having served as general manager and vice president of the AutoCAD Division at Autodesk Inc., where he led the development of the industry leading, Web-enabled, CAD (computer aided design) software product, AutoCAD. Kela holds a doctorate in mechanical engineering from the University of Rochester. He will report directly to Singh.
''I am pleased that Ajay and Mike have joined our team,'' said Singh. ''Their addition reinforces our commitment to meet increased demands for our workplace eCommerce solutions. Ajay's unrivaled command of product development coupled with Mike's expertise in leading a first-rate sales organization will be invaluable for our continued success.''
With Singh assuming the role of chairman, Michael Hilton, Concur co-founder, will focus on his pivotal role as chief technical officer.
''As we continue to expand the breadth of our workplace eCommerce solutions and our leadership position in this exciting and rapidly emerging market, I am very pleased to assume the added responsibilities of chairman of the board,'' stated Singh. ''We believe the workplace eCommerce market is still in the early stages of development, providing Concur with significant growth opportunities.''
About Concur Technologies
Concur Technologies, Inc.(TM) (www.concur.com) is a leading provider of workplace eCommerce solutions that automate costly and inefficient business processes among employees, partners, suppliers and service providers. Its flagship products, Concur eWorkplace(TM), Concur eWorkplace ASP and Concur eWorkplace.com(TM) (www.concureworkplace.com), integrate Concur's suite of workplace eCommerce solutions -- business-to-business eCommerce, human resources self-service, travel and entertainment expense management and travel booking through a common business portal. All three products enable users to access critical information and services thus reducing operating costs, increasing productivity and improving supplier management. Concur has licensed its workplace eCommerce solutions to more than 275 companies worldwide, representing over 2.1 million employees. Customers include AT&T, Baxter International, DaimlerChrysler, Exxon and Pfizer. Concur's Global Alliance Network is comprised of over 50 world-class organizations including ADP, American Express, Exodus and Microsoft.
All company or product names are trademarks and/or registered trademarks of their respective owners.
This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from current expectations. Statements made in this release that relate to future plans, events or performances or statements containing words such as ''believes,'' ''anticipates,'' ''plans'' or ''expects'' are forward-looking statements. These statements are based on current expectations and involve risks and uncertainties. Factors that could cause or contribute to actual results differing from current expectations include, but are not limited to, uncertainty of market acceptance of the company's products, including the Concur eWorkplace.com product designed for the small and middle market; risks associated with new business models; risks associated with expansion into new markets; and risks associated with acquisitions.
Please refer to the company's public filings made with the Securities and Exchange Commission (http://www.sec.gov) for additional and more detailed information on risk factors that could cause actual results to differ materially from current expectations. Concur assumes no obligation to update the forward-looking information contained in this press release.
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Contact:
Concur Technologies, Inc.
(Investors) Kira Bacon, 425/497-7342
kirab@concur.com
(Press) Christina Schuetz, 425/497-5929
christinas@concur.com
or
Niehaus Ryan Wong
Dave Gutierrez, 650/827-7054
gdavid@nrwpr.com
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