Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Brent Hogenson who wrote (30469)	8/25/2000 7:15:11 AM
From: the dodger	Respond to of 54805

I know a few of you follow Lernout & Hauspie... (Brent...have you by chance looked at LHSP recent 10Q filings?) Friday August 25, 1:00 am Eastern Time Press Release Lernout & Hauspie Announces Management Change BURLINGTON, Mass. & IEPER, Belgium--(BUSINESS WIRE)--Aug. 25, 2000--Lernout & Hauspie, (Nasdaq:LHSP, Easdaq:LHSP) (L&H(TM)), a worldwide market leader in speech and language technologies, has announced that John Duerden, currently the President and CEO of L&H's Health Care Solutions Group, has been named President and Chief Executive Officer. Duerden was formerly the Chairman and CEO of Dictaphone Corporation. John Duerden replaces Gaston Bastiaens, who has decided to step aside as President and Chief Executive Officer but will continue to play an active role as a board member. Bastiaens is credited with leading the company through an important phase in L&H's growth and development. ``By acquiring Dictaphone and Dragon Systems L&H gained access to a talented pool of managers,'' said Gaston Bastiaens. ``As a significant shareholder of L&H, I'm very pleased with the appointment of John Duerden as my successor. With an established track record in leading companies in bold strategic directions, John is well-suited to take L&H into its next phase.'' The announced leadership change follows the very strong growth of the company including the acquisitions of Dragon Systems and Dictaphone earlier this year. Under John Duerden's leadership, the company will continue the consolidation of the human, marketing and technological resources of these companies into a unified corporate strategy and culture and capture the synergies inherent in the consolidation of these three companies. As chairman and CEO of Dictaphone, acquired by L&H in May, Duerden spearheaded the transformation of the company from a traditional hardware manufacturer into a software-based leader in digital voice-driven network and Internet solutions. This repositioning enabled a ten-fold increase in operating profits at Dictaphone between 1998 and 1999. ``John's strong management and leadership reshaped Dictaphone and converted the company into a 21st century leading-edge technology company,'' said Jo Lernout, co-founder and co-chairman of Lernout & Hauspie. ``We are confident that he will bring the leadership to help us continue our successful vision.'' Duerden previously served as President and Chief Operations Officer at sports shoe company Reebok. Joining the company in 1988, he dramatically built the company's international markets, growing business in Europe and Asia from $150 million to $1.5 billion in just five years. In addition, Duerden was part of the Xerox management team that helped the company transition into new digital document processing technologies. ``I share the enthusiasm and vision of Jo and Pol for the extraordinary possibilities of our core technologies, our worldwide presence, and our strategic partnerships,'' said Duerden. ``I believe that the combined strength of L&H, Dragon Systems and Dictaphone can create an exciting platform for new speech and language technologies, products and services,'' he added. In addition to his leadership as President and CEO, Duerden will serve on the company's Executive Committee, along with company founders Jo Lernout and Pol Hauspie, and Messrs. Nico Willaert, L&H's vice-chairman, and Roel Pieper, vice-chairman of L&H and also vice-chairman of Computer Associates. ``During the last four years, Gaston has made our company the undisputed leader in speech and language technologies and solutions,'' said Pol Hauspie, co-founder and co-chairman of the Board. ``We thank him for his unflagging dedication to the company.''