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CyberMedia Names Kanwal Rekhi as CEO;
Former Novell CFO Jim Tolonen Named President and COO
Santa Monica, Calif., April 27, 1998 ¾
The Board of Directors of CyberMedia, Inc. (Nasdaq/NMS:CYBR), the leader in automatic technical support for personal computers, today announced the appointments of Kanwal Rekhi as chief executive officer and, effective May 1, 1998, James R. Tolonen as president and chief operating officer. Rekhi will continue as chairman of the board.
"Jim and I worked together for many years at Excelan and then at Novell, following the merger of the two companies," said Rekhi, CyberMedia’s chairman and new CEO. "His experience in finance and operations is exactly what this company needs right now to stay on track for growth and profitability. His leadership and vision will serve the company in the future to maintain its position as an innovator in the industry."
Rekhi had been serving as acting president since March 12.
"My decision to join CyberMedia was motivated by the exciting opportunity this company presents," said Jim Tolonen, CyberMedia’s new president and chief operations officer. "CyberMedia is an undervalued company which is fundamentally strong with a sound strategy. The products continue to sell well through more than 10,000 retail outlets. 1997 revenues grew by 85 percent compared to 1996, and the market opportunity for automatic technical support remains enormous."
Added Rekhi, "Over the past few months, we have done a thorough review of the business, and instituted practices and programs that provide for stronger financial controls and improved decision-making. With a solid management team in place, we will build on this firm foundation."
In their new positions, Rekhi and Tolonen round out a complete management team that includes vice presidents for finance, marketing, worldwide sales, legal, engineering, human resources, operations, and a vice president and general manager for the newly designated Enterprise Products Group.
Additional Executive Appointments
The company’s former Vice President of Marketing, Bob Davis, will now head up the Enterprise Products Group as vice president and general manager. Replacing Davis as vice president of marketing is Srikanth Chari, who was among the original founders of CyberMedia and who previously served as the company’s vice president of marketing. Joining the company as vice president of worldwide sales is Ken Kucera, who previously served as president of First Byte, a subsidiary of Cendant. Chari and Kucera will work together to build brand recognition and strengthen the retail business.
Jane E. Wike, the company’s current controller, has been promoted from controller to vice president of finance. John Teddy has been promoted from director of engineering to vice president of engineering.
Alexander S. Klyce, Nancy Tullos and Larry Waggoner continue in their roles as vice presidents of legal, human resources and operations respectively.
Executive Background Information
Chairman and CEO Kanwal Rekhi has been a member of CyberMedia’s board of directors since October 1995, and was named chairman of the board in February of this year. A 28-year industry veteran, he previously served as an executive vice president and board member at Novell, and president and CEO of Excelan, a computer networking company he founded.
President and COO James R. Tolonen, a 25-year industry veteran, was formerly the senior vice president and chief financial officer at Novell for nine years. He has served on the CyberMedia Board of Directors since August 1996. In February of this year, he became a member of the board’s executive committee and began taking an active role in managing the company’s financial affairs.
About CyberMedia
As a pioneer in the category of Automatic Technical Support (ATS), CyberMedia's mission is to help computer users anytime, anywhere. The company offers a complete set of software and services that provide the highest quality of immediate help to computer users at home and work, all over the world.
CyberMedia’s ActiveHelp™ product line includes First Aid® to fix automatically common problems Windows users face; Oil Change™ to update PCs via the Internet with third-party provided bug fixes, patches and drivers; UnInstaller ™ to safely remove unwanted Window’s applications and files; Guard Dog Deluxe™ to safeguard Internet security and privacy; and the CyberMedia Support Server line of automatic technical support software for corporations and mid-size businesses.
Founded in 1991, CyberMedia (Nasdaq: CYBR) employs more than 250, with company headquarters in Santa Monica, CA, and offices in San Jose, CA, Portland, OR, Washington, D.C., Japan, Ireland, and India. For additional information contact CyberMedia, Inc., 2850 Ocean Park Boulevard, Santa Monica, CA 90405; phone (310) 664-5000; fax (310) 664-4720; or visit the CyberMedia Web site at www.cybermedia.com.
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Note: CyberMedia and First Aid are registered trademarks and Oil Change, Guard Dog, UnInstaller and the CyberMedia logo are trademarks of CyberMedia, Inc. All other trade names are trademarks of their respective owners.
Press Contacts:
Kristin Gabriel, Director of Corporate Communications @ (310) 664-5049; krgabriel@cybermedia.com
Chris Lumby, Public Relations Manager @ (310) 664-5455; chrisl@cybermedia.com
Investor Relations Contact:
Fiona Ross, Senior Vice President and Group Supervisor, Financial Relations Board @ (310) 442-0599; far@la.frbd.com
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