MMI Investments President Clay B. Lifflander Joins Dendrite Board of Directors
October 23 2006 - 9:04AM
Business Wire
Dendrite International, Inc., (NASDAQ: DRTE) today announced that
Clay B. Lifflander has accepted the company�s invitation to join
its Board of Directors. Mr. Lifflander is the president of the
general partner of MMI Investments, which owns 13.7 percent of
Dendrite�s outstanding shares and is the company�s largest
shareholder. "We are pleased to welcome Clay Lifflander to our
Board,� said John Bailye, chairman and chief executive officer of
Dendrite. �We have maintained an on-going dialogue with MMI as it
has increased its position in the company. Clay will be a fine
complement to our hard working and very committed Board.� Mr.
Lifflander has been with MMI for nearly eleven years, presiding
over its strong growth in managed assets, which currently total
approximately $700 million in securities under management. Prior to
joining MMI, Mr. Lifflander served as President of the NYC Economic
Development Corp under Mayor Rudolph Giuliani and prior to that was
Managing Director in the M&A Group at Smith Barney. MMI entered
into a standstill agreement as part of its acceptance of the Board
seat offer from Dendrite. It is expected that Mr. Lifflander will
also be appointed to the Nominating and Corporate Governance
Committee. About Dendrite Founded in 1986, Dendrite International
(NASDAQ: DRTE) enables sales, marketing, clinical and compliance
solutions for the global, pharmaceutical industry. The company has
clients in more than 50 countries and includes the world's top 20
pharmaceutical companies. For more information, please visit
www.dendrite.com. Note: Dendrite is a registered trademark of
Dendrite International, Inc. This document may contain
forward-looking statements that may be identified by such
forward-looking terminology as "expect," "believe," "anticipate,"
"will," "intend," "plan," "target," "outlook," "guidance," and
similar statements or variations. Such forward-looking statements
are based on our current expectations, estimates, assumptions and
projections and involve significant risks and uncertainties,
including risks which may result from our dependence on the
pharmaceutical industry; fluctuations in quarterly revenues due to
lengthy sales and implementation cycles for certain of our
solutions; our fixed expenses in relation to fluctuating revenues
and variations in customers' budget cycles; dependence on certain
major customers; changes in demand for our products and services
attributable to any weakness experienced in the economy or mergers,
acquisitions and consolidations in the pharmaceutical industry;
successful and timely development and introduction of new products
and versions; rapid technological changes; increased competition;
international operations; integrating the entities we acquire; our
ability to effectively manage our growth; the protection of our
proprietary technology; our ability to compete in the
Internet-related products and services market; the continued demand
for Internet-related products and services; the ability of our
third party vendors to respond to technological change; our ability
to maintain our relationships with third-party vendors; less
favorable than anticipated results from strategic relationships;
dependence of data solutions on strategic relationships; events
which may affect the U.S. and world economies; and catastrophic
events which could negatively affect our information technology
infrastructure. Other important factors that should be reviewed and
carefully considered are included in the company's 10-K, 10-Qs, and
other reports filed with the SEC. Actual results may differ
materially. The company assumes no obligation for updating any such
forward-looking statements to reflect actual results, changes in
assumptions or other changes affecting such forward-looking
statements. Dendrite International, Inc., (NASDAQ: DRTE) today
announced that Clay B. Lifflander has accepted the company's
invitation to join its Board of Directors. Mr. Lifflander is the
president of the general partner of MMI Investments, which owns
13.7 percent of Dendrite's outstanding shares and is the company's
largest shareholder. "We are pleased to welcome Clay Lifflander to
our Board," said John Bailye, chairman and chief executive officer
of Dendrite. "We have maintained an on-going dialogue with MMI as
it has increased its position in the company. Clay will be a fine
complement to our hard working and very committed Board." Mr.
Lifflander has been with MMI for nearly eleven years, presiding
over its strong growth in managed assets, which currently total
approximately $700 million in securities under management. Prior to
joining MMI, Mr. Lifflander served as President of the NYC Economic
Development Corp under Mayor Rudolph Giuliani and prior to that was
Managing Director in the M&A Group at Smith Barney. MMI entered
into a standstill agreement as part of its acceptance of the Board
seat offer from Dendrite. It is expected that Mr. Lifflander will
also be appointed to the Nominating and Corporate Governance
Committee. About Dendrite Founded in 1986, Dendrite International
(NASDAQ: DRTE) enables sales, marketing, clinical and compliance
solutions for the global, pharmaceutical industry. The company has
clients in more than 50 countries and includes the world's top 20
pharmaceutical companies. For more information, please visit
www.dendrite.com. Note: Dendrite is a registered trademark of
Dendrite International, Inc. This document may contain
forward-looking statements that may be identified by such
forward-looking terminology as "expect," "believe," "anticipate,"
"will," "intend," "plan," "target," "outlook," "guidance," and
similar statements or variations. Such forward-looking statements
are based on our current expectations, estimates, assumptions and
projections and involve significant risks and uncertainties,
including risks which may result from our dependence on the
pharmaceutical industry; fluctuations in quarterly revenues due to
lengthy sales and implementation cycles for certain of our
solutions; our fixed expenses in relation to fluctuating revenues
and variations in customers' budget cycles; dependence on certain
major customers; changes in demand for our products and services
attributable to any weakness experienced in the economy or mergers,
acquisitions and consolidations in the pharmaceutical industry;
successful and timely development and introduction of new products
and versions; rapid technological changes; increased competition;
international operations; integrating the entities we acquire; our
ability to effectively manage our growth; the protection of our
proprietary technology; our ability to compete in the
Internet-related products and services market; the continued demand
for Internet-related products and services; the ability of our
third party vendors to respond to technological change; our ability
to maintain our relationships with third-party vendors; less
favorable than anticipated results from strategic relationships;
dependence of data solutions on strategic relationships; events
which may affect the U.S. and world economies; and catastrophic
events which could negatively affect our information technology
infrastructure. Other important factors that should be reviewed and
carefully considered are included in the company's 10-K, 10-Qs, and
other reports filed with the SEC. Actual results may differ
materially. The company assumes no obligation for updating any such
forward-looking statements to reflect actual results, changes in
assumptions or other changes affecting such forward-looking
statements.
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