Geac Computer Corporation Limited.
Geac Continues to Globalise its Management Structure With Appointment of European Finance Director
Markham, Ontario and Studley, England (ots/PRNewswire)
- Russell Cullens to Provide Additional Focus on Cost Control and Regulatory Compliance
MARKHAM, Ontario and STUDLEY, England, October 20 /PRNewswire/ --
Geac(R) (TSX : GAC), (NASDAQ : GEAC), a global enterprise software company focused on the needs of the Chief Financial Officer, has appointed Russell Cullens as European Finance Director, based at Geac's European headquarters in the United Kingdom. Mr. Cullens has responsibility for the finance operations of all of Geac's European entities, which in the 2004 fiscal year generated more than 40% of the company's total worldwide revenues. He reports to Donna de Winter, Geac's Chief Financial Officer.
Mr. Cullens' appointment is consistent with Geac's stated commitment to organise major lines of business and key corporate functions on a global basis. Recently Geac announced the appointment of former SAP America executive Jeffrey W. Murphy as Senior Vice President in charge of worldwide operations for the Geac Performance Management business, and shifted several other executives into positions of global authority for Geac marketing and for Geac's SmartStream and EnterpriseServer businesses.
"Geac's finance function requires the same global perspective and coordination as our product lines to maximise our effectiveness and efficiency," Geac CFO Donna de Winter said. "Having Russell Cullens in place in Europe will significantly enhance Geac's ability to control costs and ensure regulatory compliance in the highly complex and diverse European marketplace."
Mr. Cullens was previously financial controller for three years at Cognos, covering the UK, Middle East and South Africa. At Cognos, Mr. Cullens integrated a performance management system into his region, migrating from a traditional spreadsheet-based planning and budgeting process. "From my first hand experience, I know that transitioning to performance management technology often requires an operational and cultural shift within an organisation. It enables business unit managers to truly own their budgets and forecasts, rather than Finance owning them. Geac is undergoing this evolution today, as are many of our customers. I'm excited to be in a position to lead this positive transformation within Geac's European operations, and I appreciate the significant advantage of using a powerful tool like Geac MPC."
Prior to Cognos, Mr. Cullens was planning manager at Seattle-based Allied Telesyn International, and spent three years as a European analyst at Dell Computers. He qualified as a chartered accountant at Deloitte & Touche before moving to 3M as an internal auditor for the UK and Northern Europe.
About Geac
Geac (TSX: GAC, NASDAQ: GEAC) is a global enterprise software company that addresses the needs of the Chief Financial Officer. Geac's best-in-class technology products and services help organisations do more with less in an increasingly competitive environment, amidst growing regulatory pressure, and in response to other business issues confronting the CFO. Further information is available at http://www.geac.com or through e-mail at info@geac.com.
This press release may contain forward-looking statements of Geac's intentions, beliefs, expectations and predictions for the future. These forward-looking statements often include use of the future tense with words such as "will," "may," "intends," "anticipates," "expects" and similar conditional or forward-looking words and phrases. These forward-looking statements are neither promises nor guarantees. They are only predictions that are subject to risks and uncertainties, and they may differ materially from actual future events or results. Geac undertakes no obligation to update or revise the information contained herein. Important factors that could cause a material difference between these forward-looking statements and actual events include, among other things: our ability to obtain the desired synergies and cost-efficiencies from our global restructuring and organisational efforts; whether we are able to attract and retain key personnel; risks inherent in fluctuating international currency exchange rates in light of our global operations and the unpredictable effect of geopolitical world and local events; whether we are successful in our continued efforts to manage expenses effectively and maintain profitability; our ability to achieve revenue from products and services that are under development; and the uncertain effect of the competitive environment in which we operate and resulting pricing pressures. These and other potential risks and uncertainties that relate to Geac's business and operations are summarised in more detail from time to time in our filings with the United States Securities and Exchange Commission and with the Canadian Securities Administrators. Please refer to Geac's most recent quarterly reports available through the website maintained by the SEC at www.sec.gov and through the website maintained by the Canadian Securities Administrators and the Canadian Depository for Securities Limited at www.sedar.com for more information on risk factors that could cause actual results to differ. Geac is a registered trademark of Geac Computer Corporation Limited. All other marks are trademarks of their respective owners.
Contact:
For further information: Investor Contact: Alys Scott, Geac,
+1-905-940-3751, alys.scott@geac.com; Media Contact-North America:
David Domeshek, Geac, +1-508-871-5064, david.domeshek@geac.com; Media
Contact-Europe: Richard Moore, Geac, +44-(0)1527-496-189,
richard.moore@geac.com