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Technology Stocks : Enterprise Informatics -- Ignore unavailable to you. Want to Upgrade?

To: SIer formerly known as Joe B. who wrote (2381)	4/14/1998 9:03:00 AM
From: SIer formerly known as Joe B.	Read Replies (1) \| Respond to of 13797

Altris Software Announces Restructuring Business Wire - April 14, 1998 08:46 %ALTRIS-SOFTWARE ALTS %CALIFORNIA %COMPUTERS %ELECTRONICS %COMED %MANAGEMENT %CHANGES V%BW P%BW Jump to first matched term SAN DIEGO--(BUSINESS WIRE)--April 14, 1998--Altris Software Inc. (NASDAQ/NMS:ALTS) announced today that the Board of Directors has appointed Roger Erickson as Chief Executive Officer of the Company effective April 8, 1998. In addition, Mr. Erickson will serve as a Director of the Company. Mr. Erickson was appointed Interim Chief Executive Officer last week after the resignation of Jay Tanna. Larry Unruh, a Director of the Company, stated, "The Company has adopted a new operating plan and the Board of Directors believes Roger Erickson brings an excellent combination of leadership abilities, technical skills and knowledge of the Company's customer base and market to implement the plan." Roger Erickson added, "I am excited about the opportunity to lead the Company. The management team has developed the new operating plan to address three specific goals: (1) reduce costs and position the Company to generate cash from operations; (2) focus the technical talents of the Company's employees under more disciplined management in an effort to deliver solutions in an efficient and cost effective manner; and (3) concentrate our sales efforts in our strongest vertical markets while providing increased support to our channel partners." As the first step in the plan, Altris lowered payroll costs by 25% versus its position at the end of 1997. Although the Company is also cutting costs in other areas, the largest single cost element of the Company is payroll and associated benefits. The reduction in force was implemented with the intent of preserving the core resources of the Company while achieving its payroll cost reduction objectives. To address the second goal, the Company has consolidated its U.S. and U.K. engineering resources under the leadership of David Chu, who has been appointed to the position of Vice President of Engineering. Mr. Chu has accumulated over 20 years of software industry experience working on products from relational database systems to business applications, in a wide variety of technical environments. His principal expertise is managing the development efforts of enterprise level business applications. An expert in Microsoft BackOffice technology, Mr. Chu holds triple certifications as a Microsoft Certified Systems Engineer, Solutions Developer and Trainer. Prior to joining Altris Software in February 1997, he was Assistant Vice President of Research and Development for Computer Associates International ("CA"). In his 10-year career at CA, Mr. Chu played a leading role as an architect and original designer of many of CA's currently marketed business applications. Commenting on his promotion, Mr. Chu said, "Our plan is to accelerate our implementation of industry best practices, procedures and frameworks throughout the Altris engineering organization. For example, we have instituted new release planning and distribution procedures that will shorten our maintenance release cycles to customers for the Company's current products. For new product development, we are adopting a milestone driven development procedure that pays much more attention to up front planning, design and continual quality assurance. Each new product will be released only after it is evaluated using formal test plans and procedures allowing us to actually measure and improve product quality." Summarizing, Mr. Chu said, "I am confident that combining these changes with an already excellent development staff can help us to provide solid, innovative new products to customers." Based in San Diego, California, Altris Software delivers enterprise-wide document management software to its customers around the world. CONTACT: At Altris: John Low Chief Financial Officer 619/625-3000 or At Lippert/Heilshorn & Associates: Lillian Armstrong/Kris Otridge 415/433-3777