Tumbleweed Appoints James P. Scullion as CEO
January 17 2006 - 6:30AM
PR Newswire (US)
Security Industry Veteran Will Focus on Revenue Growth and
Profitability REDWOOD CITY, Calif., Jan. 17 /PRNewswire-FirstCall/
-- Tumbleweed(R) Communications Corp. (NASDAQ:TMWD), a leading
provider of email security, managed file transfer, and identity
validation appliance and software products, today announced that
its Board of Directors has unanimously named James P. Scullion as
chief executive officer, effective immediately. Scullion was
elected to serve as Chairman of the Board of Directors on January
9, 2006 upon the resignation of Craig Brennan as CEO and Chairman
of the Board. Scullion has served on the Tumbleweed Board of
Directors since April 2003, and has also chaired the Company's
audit committee. "I'm very pleased that Jim has agreed to join
Tumbleweed as its new CEO," said Deborah D. Rieman, a Tumbleweed
Board Member. "We believe our market is entering its next growth
phase as security software, and more specifically, secure messaging
software, tops the list of CIO's most pressing needs for 2006. We
believe Jim's two decades of experience as CEO, COO, and CFO in the
security arena will greatly benefit Tumbleweed as it looks to
extend it leadership position as the comprehensive provider of
secure online communications." Mr. Scullion brings almost 20 years
of experience as a "C" level executive in the security arena to his
new position. Most recently, he served as Chief Executive Officer
and member of the Board of Directors of ComnetiX Inc. since January
of 2004. From 1990 to 2002, he held senior management positions
with Identix Incorporated, a publicly traded biometric technology
company. From 1996 to June 2002, Mr. Scullion was responsible for
all of the company's operations, first as Executive Vice President
from 1996 to April 1999 and then as President and Chief Operating
Officer from April 1999 to June 2002. Mr. Scullion was a member of
the Identix Board of Directors from 1998 to June 2002 and
previously was its Chief Financial Officer from 1990 to April 2001.
Identix merged with Visionix in June 2002 and recently announced a
merger with Viisage Technology, Inc. in a deal valued at $770
million. While at Identix, Scullion led the company's growth in
annual revenues from $1 million to more than $80 million prior to
its merger with Visionix. Prior to joining Identix, Mr. Scullion
served as Chief Financial Officer at DataTrak, Inc. from 1986 to
1990. "Tumbleweed is the technology and product leader in the
secure messaging industry," said Jim Scullion. "I am excited to be
joining a company that is well positioned to capitalize on a fast
growing, high demand market. I believe my leadership and
operational experience in the security industry will further
strengthen the already outstanding Tumbleweed team, and will help
accelerate our company's growth and long-term profitability, as we
look to become the dominant player in the secure messaging market
place." Safe Harbor Statement Tumbleweed cautions that
forward-looking statements contained in this press release are
based on current plans and expectations, and that a number of
factors could cause the actual results to differ materially from
the guidance given at this time. These factors are described in the
Safe Harbor statement below. Except for the historical information
contained herein, the matters discussed in this press release may
constitute forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially
from those projected, particularly with respect to the growth of
Tumbleweed's market, Tumbleweed's position in its market,
Tumbleweed's growth in revenue and otherwise, and Tumbleweed's
long-term profitability. In some cases, forward-looking statements
can be identified by terminology such as "will" and similar
expressions. For further cautions about the risks of investing in
Tumbleweed, we refer you to the documents Tumbleweed files from
time to time with the Securities and Exchange Commission,
particularly Tumbleweed's Form 10-K filed March 16, 2005 and Form
10-Q filed November 2, 2005. Tumbleweed assumes no obligation to
update information contained in this press release, including for
example its guidance regarding its future performance, which
represents Tumbleweed's expectations only as of the date of this
release and should not be viewed as a statement about Tumbleweed's
expectations after such date. Although this release may remain
available on Tumbleweed's website or elsewhere, its continued
availability does not indicate that Tumbleweed is reaffirming or
confirming any of the information contained herein. About
Tumbleweed Communications Corp. Tumbleweed provides security
software and appliances for email protection, file transfers, and
identity validation that allow organizations to safely conduct
business over the Internet. Tumbleweed offers these solutions in
three comprehensive product suites: MailGate(R),
SecureTransport(TM), and Validation Authority(TM). MailGate
provides protection against spam, viruses, and attacks, and enables
policy-based message filtering, encryption, and routing.
SecureTransport enables business to safely exchange large files and
transactions without proprietary software. Validation Authority is
the world-leading solution for determining the validity of digital
certificates. Tumbleweed's enterprise and government customers
include ABN Amro, Banc of America Securities, Catholic Healthcare
West, JP Morgan Chase & Co., The Regence Group (Blue Cross/Blue
Shield), St. Luke's Episcopal Healthcare System, the U.S. Food and
Drug Administration, the U.S. Department of Defense, and all four
branches of the U.S. Armed Forces. Tumbleweed was founded in 1993
and is headquartered in Redwood City, Calif. For additional
information about Tumbleweed go to http://www.tumbleweed.com/ or
call 650-216-2000. Tumbleweed, MailGate, SecureTransport and
Validation Authority are either registered trademarks or trademarks
of Tumbleweed Communications Corp. in the United States and/or
other countries. All other trademarks are the property of their
respective owners. First Call Analyst: FCMN Contact: DATASOURCE:
Tumbleweed Communications Corp. CONTACT: Investors, Tim Conley, VP
Finance & CFO of Tumbleweed Communications Corp.,
+1-650-216-2000, ; or Charles Messman or Todd Kehrli, both of MKR
Group LLC, +1-818-556-3700, , for Tumbleweed Communications Corp.
Web site: http://www.tumbleweed.com/
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