Critical Path Promotes Mark Palomba To CEO
July 11th, 2007 Leave a comment Visited 29 times, 1 so far today
Critical Path Promotes Mark Palomba To CEO
Former CEO, Mark Ferrer, Continues to Serve as Chairman of the Board
SAN FRANCISCO – July 11, 2007 – Critical Path, Inc. (OTC: CPTH), a leading provider of messaging software and services, today announced that Mark Palomba has been promoted from executive vice president, worldwide sales and field operations, to chief executive officer. Mark Ferrer will continue to serve as chairman of the board.
Since joining Critical Path in May 2004, Palomba has been instrumental in the growth of the company’s mobile messaging business. He has successfully led worldwide sales and marketing, spearheading the team that signed new contracts with leading mobile operators, such as Telecom Italia, Telefónica Móviles, O2, WIND, IDEA and Indosat. He and his team have driven extensive business development throughout Europe and Asia Pacific, acquiring new customers in previously untapped regions, such as China, Indonesia, India and Vietnam. Furthermore, Palomba has played a significant role in driving new revenue streams, improving the company’s operational efficiencies and increasing gross margins.
“I am both excited and honored to assume the role of CEO,” said Mark Palomba, chief executive officer, Critical Path. “I am very proud of the progress we have made over the last three years, and I am committed to maintaining this momentum going forward by staying focused on our consumer messaging strategy. The market for consumer mobile email and messaging has enormous growth potential, and Critical Path is well-positioned to capitalize on this growth as we continue to roll out innovative, consumer-oriented services with operators worldwide.”
“Mark Palomba has played a key role in turning Critical Path into an efficient, success-driven organization,” said Mark Ferrer, chairman, Critical Path. “The board and I have no doubt that he will continue to strengthen the company’s ability to capitalize on the tremendous opportunities in consumer mobile messaging. I am pleased that I will be able to continue to provide support to Mark as he guides Critical Path on the strategy we laid out three years ago.”
Mark Palomba has more than 24 years of experience in the high-tech industry. Prior to Critical Path, Palomba served as senior vice president, global operations, at Vastera, Inc., where he led a successful managed services organization that drove more than 65% of the company’s annual revenue. Previously, he led a profitable $100 Million consulting services unit at the Baan Company as senior vice president of consulting for the Americas. In addition, he spent 16 years at IBM in various sales and marketing positions. Palomba holds a master’s degree in computer science and a bachelor’s degree in economics and computer science, both from Union College in New York.
About Critical Path, Inc.
Critical Path’s Memova® solutions provide a new and improved email experience for millions of consumers worldwide, helping mobile operators, broadband and fixed-line service providers unlock the potential of email in the mass market. Memova® Mobile gives consumers instant, on-the-go access to the Messages that Matter® most. Featuring industry-leading anti-spam and anti-virus technology, Memova® Anti-Abuse protects consumers against viruses and spam. Memova® Messaging provides consumers with a rich email experience, enabling service providers to develop customized offerings for high-speed subscribers. Headquartered in San Francisco with offices around the globe, Critical Path’s messaging solutions are deployed by service providers throughout the world. More information is available at www.criticalpath.net.
Forward-Looking Statements:
This press release contains forward-looking statements by Critical Path, Inc. (the “Company”), its executives and board members regarding the growth of the Company’s opportunities worldwide, the prospects of the mobile messaging market, the market for the Company’s products and services, the ability of the Company’s products and services to meet the business needs of customers and compete favorably in the marketplace, the Company’s ability to focus on its business strategy and capitalize on growth opportunities, and expectations for the future performance of the company’s senior management in achieving strategic goals. The words and expressions “look forward to,” “will,” “expect,” “plan,” “believe,” “seek,” “strive for,” “anticipate,” “hope,” “estimate” and similar expressions are intended to identify the Company’s forward-looking statements. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the emerging and changing nature of the market for the Company’s products and services, and the ability of the Company’s technology to address customer and consumer demands. These and other risks and uncertainties are described in more detail in the Company’s filings with the U.S. Securities and Exchange Commission (www.sec.gov) made from time to time including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2006, Quarterly Report on Form 10-Q for the three months ended March 31, 2007 and all subsequent filings with the United States Securities and Exchange Commission (www.sec.gov). The Company makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made.
Note to Editors: Critical Path, the Critical Path logo, Messages that Matter, Memova and the Memova logo are the trademarks of Critical Path, Inc., registered in various jurisdictions. All other trademarks are the property of their respective holders.
Reporters, Editors – for additional information, contact:
Critical Path Corporate Communications – Michelle Weber
+1-415-541-2575
cp-publicrelations {at} criticalpath(.)net
Fleishman-Hillard – Europe
Jenna Keighley
+44-207 395 7072
jenna.keighley {at} fleishmaneurope(.)com
High Road Communications – North America
Michael Sznajdruk
+1-416-644-2278
msznajdruk {at} highroad(.)com
Investors – for additional information, contact:
Critical Path, Inc. Investor Relations
+1-415-541-2619
ir {at} criticalpath(.)net
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