American Software, Inc. Announces Resignation of Executive Chair Jim Edenfield
February 21 2024 - 4:16PM
Business Wire
The Board of Directors of American Software, Inc. (NASDAQ:
AMSWA), a leading provider of innovative AI-powered supply chain
management and advanced retail planning platforms, announced today
that the company’s co-founder, Executive Chairman and Treasurer,
James C. Edenfield, has elected to step down from the Board and as
the company’s Treasurer, after over 50 years of leadership for the
company. Mr. Edenfield submitted a letter of resignation, which the
Board accepted today. Mr. Edenfield will continue as an advisor to
the company and its Board.
Mr. Edenfield is an original co-founder of the company, dating
back to 1970, when Mr. Edenfield and Dr. Thomas L. Newberry, IV,
formed the predecessor to the company and served on its Board, with
Mrs. Norma Edenfield and Mrs. Evelyn Newberry. Mr. Edenfield,
together with Dr. Newberry, pioneered the development and use of
manufacturing and distribution planning and execution software
applications; which were foundational for the supply chain
management software industry as a whole, above and beyond being
foundational for the company.
For decades, Mr. Edenfield served as the company’s Co-Chief
Executive Officer, President and Treasurer. He oversaw the
company’s growth, its initial public offering in 1983, global
expansion and successfully led the company through rapid and
enormous changes in the business and industry.
The Board announced that James B. Miller, Jr., a member of the
Board since 2002, has agreed to serve as the Chair of the Board,
effective today.
"Jim Edenfield has been a leader, mentor and friend through the
decades I have known him,” said Allan Dow, CEO of American
Software. “We are glad that Jim will continue to advise our Board
and me and are grateful for his half a century of service to the
company. We’re also thankful for Jim Miller’s willingness to step
up as our Board Chair and look forward to his leadership in this
transitionary period.”
This announcement does not affect the company’s previously
announced Nomination and Corporate Governance Committee review of
the Company’s corporate structure and dual class structure. The
Committee expects that the completion of that work can be announced
prior to the annual shareholder meeting.
About American Software
Atlanta-based American Software, Inc. (NASDAQ: AMSWA), through
its operating entity Logility, delivers prescriptive demand,
inventory, manufacturing, and supply planning tools – helping to
provide executives the confidence and control to increase margins
and service levels, while delivering sustainable supply chains.
Serving clients such as Big Lots, Carter’s, Destination XL,
Hostess, Husqvarna Group, Jockey International, Johnson Controls,
Parker Hannifin, Red Wing Shoe Company, Spanx, Dole Fresh
Vegetables, Inc., and Fender Musical Instrument Co, our solutions
are marketed and sold through a direct sales team as well as an
independent global value-added reseller distribution network.
Logility’s supply chain planning platform leverages Generative
AI, advanced AI-driven algorithms, and machine learning. Our
engineered approach drives team alignment for over 800 customers in
80 countries with prioritized, value-focused outcomes. For more
information about Logility, please visit www.logility.com. You can
learn more about American Software at www.amsoftware.com or by
calling (404) 364-7615 or email kliu@amsoftware.ocom.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to substantial risks and uncertainties. There are a number
of factors that could cause actual results or performance to differ
materially from what is anticipated by statements made herein.
These factors include, but are not limited to, continuing U.S. and
global economic uncertainty and the timing and degree of business
recovery; the irregular pattern of American Software’s revenues;
dependence on particular market segments or clients; competitive
pressures; market acceptance of American Software’s products and
services; technological complexity; undetected software errors;
potential product liability or warranty claims; risks associated
with new product development; the challenges and risks associated
with integration of acquired product lines, companies and services;
uncertainty about the viability and effectiveness of strategic
alliances; American Software, Inc.’s ability to satisfy in a timely
manner all Securities and Exchange Commission (SEC) required
filings and the requirements of Section 404 of the Sarbanes-Oxley
Act of 2002 and the rules and regulations adopted under that
Section; as well as a number of other risk factors that could
affect American Software’s future performance. For further
information about risks American Software could experience as well
as other information, please refer to American Software, Inc.’s
current Form 10-K and other reports and documents subsequently
filed with the SEC. For more information, contact: Kevin Liu,
American Software, Inc., (626) 657-0013 or email
kliu@amsoftware.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240221799638/en/
Investor Contact: Kevin Liu kliu@amsoftware.com (626)
424-1535
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