SANTA CLARA, Calif. and PLANO, Texas--(BUSINESS WIRE)--Feb. 12,
2001--Entrust(R)Technologies Inc. (NASDAQ: ENTU.O), announced today
that its board of directors has accepted the resignation of John Ryan,
president and chief executive officer. The resignation is effective
immediately.
Alberto Yepez, board member and president of Entrust New Ventures,
and David Thompson, executive vice president and chief financial
officer, will act as interim co-CEOs while the company conducts a
search for a new president and CEO. Entrust will discuss today's
announcement in a Webcast conference call scheduled for 5:05 p.m.
Eastern, February 12.
"John Ryan has been the president and CEO since Entrust was
founded in 1996, and he has been central to the company's growth and
development. He helped establish Entrust as the leading provider of
public-key Infrastructure (PKI) solutions and guided us through key
strategic acquisitions. The most recent of these was the successful
merger last year with enCommerce, which has given us the ability to
offer innovative Trust Relationship Management solutions and has laid
the groundwork for the next stage of the company's evolution," said
James A. Thomson, Entrust chairman.
"Building Entrust has been an outstanding opportunity and a great
experience," Ryan said. "Now, with the successful integration of
enCommerce and Entrust complete, and after four years at Entrust and
many years before that at Nortel Networks, I'm ready for a new
challenge. With Entrust well positioned to extend its leadership in
Trust Relationship Management solutions, the time is right for a
change."
"Today, Entrust is a company with solid fundamentals in an
excellent market with exciting potential for growth," Thomson said.
"The board and John agreed that this was an opportune time for the
company to seek new leadership with the specific skills needed to take
Entrust to the next level."
Webcast: For a listen-only broadcast with Alberto Yepez and David
Thompson, please visit:
vcall.com about 15
minutes prior to 5:05 p.m. Eastern on February 12 to register,
download and install any necessary audio software. This
Webcast will be accessible for up to 90 days following the
call on the Entrust Investor Web site:
www.entrust.com/investor.
Audio Replay of Teleconference: A replay of the teleconference can
be heard at the following number 800-642-1687, Passcode
175008, beginning at 7 p.m. Eastern on February 12, and
running through 11 p.m. EST on February 19, 2001.
About Alberto Yepez
Alberto Yepez is a member of the Entrust board of directors and
president of Entrust New Ventures. Prior to the merger, Alberto was
chairman, CEO and president of enCommerce. In addition, Alberto Yepez
has held senior management positions in Apple Computer and Rae
Technologies.
About David Thompson
David L. Thompson is executive vice president, finance and
administration, and chief financial officer at Entrust. He is a
20-year veteran of Nortel Networks, Inc. and affiliates, for which he
held several senior management positions. Most recently before joining
Entrust, Thompson was vice president of finance for the Nortel
Network's Enterprise Solutions global line of business.
About Entrust Technologies
Entrust Technologies (NASDAQ: ENTU.O) is the leading global provider
of Trust Relationship Management (TRM) services and solutions that
enable organizations to optimize their business relationships by
providing the confidence and convenience to exchange information and
conduct transactions via the Internet. Today companies and government
agencies in more than 40 countries rely on the end-to-end Entrust TRM
portfolio, which is based on the company's award-winning public-key
infrastructure (PKI) and privilege management technology. Through
Entrust TRM solutions, organizations worldwide are able to extend
innovative and highly efficient services to millions of customers,
partners, and suppliers - via conventional computers and networks,
wireless devices, and other Internet appliances. For more information,
please visit www.entrust.com.
Note to Editors: Entrust is a registered trademark of Entrust
Technologies Inc. in the United States and certain other countries. In
Canada, Entrust is a registered trademark of Entrust Technologies
Limited. All Entrust product names are trademarks of Entrust
Technologies. All other company and product names are trademarks or
registered trademarks of their respective owners.
--30--eb/sf*
CONTACT: Entrust Technologies
David Thompson, 972/943-7330 (IR)
david.thompson@entrust.com
Ian Curry, 613/270-2571 (IR)
ian.curry@entrust.com
Patricia Pane, 408/222-7832 (PR)
patricia.pane@entrust.com
or
Fleishman-Hillard
Ned Maniscalco, 314/982-1776 (IR)
maniscan@fleishman.com
or
Blanc & Otus
Sean Gibson, 415/912-2353 (PR)
sgibson@blancandotus.com
KEYWORD: CALIFORNIA TEXAS
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS INTERNET
MANAGEMENT CHANGES
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