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Technology Stocks : HARBINGER (HRBC) -- Ignore unavailable to you. Want to Upgrade?

To: Benny Baga who wrote (242)	3/15/1999 5:22:00 PM
From: micny	Read Replies (1) \| Respond to of 402

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