Wave Appoints New CFO, Announces Additional Executive Moves
April 01 2014 - 8:29AM
Marketwired
Wave Appoints New CFO, Announces Additional Executive Moves
Former Luminus Devices Chief Financial Officer Walter A.
Shephard Joins Executive Team as New CFO
LEE, MA--(Marketwired - Apr 1, 2014) - Wave Systems Corp.
(NASDAQ: WAVX) today announced several changes to its executive
team including the appointment of Walter A. Shephard as Chief
Financial Officer (CFO), succeeding Gerard Feeney. Mr. Shephard
brings a wealth of experience to Wave, most recently as Chief
Financial Officer of Luminus Devices, where he was instrumental in
the company's merger with Lightera.
"I would like to thank Jerry Feeney for his long years of
service to Wave as the CFO and for his advice and counsel to me as
I transitioned into my leadership role at Wave. I wish him the best
in his future endeavors," said Wave CEO Bill Solms. "I am pleased
to announce the appointment of Walter Shephard as the new CFO. Wave
stands to benefit from Walter's keen business acumen and years of
experience providing financial management and oversight to
companies within the technology sector. His appointment is a
critical step in completing my leadership team and in the overall
restructuring of the company."
Prior to Luminus Devices, Mr. Shephard served as CFO, Vice
President of Finance and Treasurer of Zygo Corporation, a publicly
traded developer of ultra high-end precision optical systems.
Previously, he was Vice President and CFO for GenRad Inc., a global
hardware manufacturer and software developer. He holds an MBA from
Babson College and a BS degree in Finance from Boston College.
Executive Promotions The company also announced that its Board
of Directors voted to confirm Mr. Solms as President of Wave. He
was named CEO and Director in November.
Andrew Avery assumes the newly created posts of Senior Vice
President, Global Business Development and Vice President, APAC
Sales. As SVP of Global Business Development, Andy will be directly
responsible for driving new business both with current partners and
customers but also developing new markets for Wave's products and
services. He will also be primarily responsible for sales revenue
within the Asia Pacific region. Mr. Avery's previous positions
include Vice President, Strategic Business Development and Vice
President of OEM and Channel Sales.
Additionally, Simon Tidnam was promoted to Vice President
Corporate Development, reporting to the CEO. Mr. Tidnam was
previously the head of Marketing and Business development for
Wave's Scrambls product team. Among his responsibilities will be
the further development and commercialization strategy for Wave's
Scrambls and Knowd products.
The changes within the executive team follow the additions of
Lorraine Hariton and David Côté to the Board of Directors earlier
this month.
About Wave Systems Wave Systems Corp. (NASDAQ: WAVX) reduces the
complexity, cost and uncertainty of data protection by starting
inside the device. Unlike other vendors who try to secure
information by adding layers of software for security, Wave
leverages the security capabilities built directly into endpoint
computing platforms themselves. Wave has been a foremost
expert on this growing trend, leading the way with first-to-market
solutions and helping shape standards through its work as a board
member for the Trusted Computing Group.
Safe Harbor for Forward-Looking Statements This press
release may contain forward-looking information within the meaning
of the Private Securities Litigation Reform Act of 1995 and Section
21E of the Securities Exchange Act of 1934, as amended (the
Exchange Act), including all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of the company, its directors or its officers with
respect to, among other things: (i) the company's financing plans;
(ii) trends affecting the company's financial condition or results
of operations; (iii) the company's growth strategy and operating
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such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, many of which are
beyond the company's ability to control, and that actual results
may differ materially from those projected in the forward-looking
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Company: Wave Systems Corp. Michael Wheeler 413-243-1600
mwheeler@wave.com Investor Relations: David Collins, Eric Lentini
212-924-9800 wavx@catalyst-ir.com