170 Systems Names Peter Gyenes to Board of Directors
Veteran Technology Executive Brings Decades of Experience and Extensive Relationships
Bedford, MA - June 6, 2006 - 170 Systems, Inc., the leader in optimizing financial processes for the world's largest companies, today announced the election of Peter Gyenes to the company's board of directors.
Gyenes brings four decades of experience in technical, sales, marketing and general management positions within the software and computer systems industry to his role. Most recently, he served as Chairman and Chief Executive Officer of Ascential (NASDAQ: ASCL), which was acquired by IBM in 2005. Prior to Ascential, Gyenes served as Chief Executive Officer of Informix Software, where he led the sale of its database business to IBM and the transition from Informix to Ascential. Earlier, he was Chairman, President, and Chief Executive Officer of Ardent Software, which was acquired by Informix in 2000.
Before Ardent, Gyenes served as President and Chief Executive Officer of Racal InterLan Inc. Previously, he served in executive sales, marketing, and general management positions at Data General Corporation, Encore Computer Corporation and Prime Computer, Inc. Still earlier in his career, he held technical positions at Xerox Data Systems and at IBM.
"As a recognized leader in the industry, Peter has repeatedly demonstrated an ability to grow organizations, make tough decisions, and build strategic partnerships," said Dave Ellenberger, President and CEO of 170 Systems. "I am delighted to have the opportunity to work with him again and am confident that he will help 170 Systems achieve even higher levels of success."
"On behalf of 170 Systems' board of directors, I'm very pleased to welcome Peter to the company," said Karl Büttner, Chairman of the Board. "Peter's perspective, extensive network of industry colleagues and wealth of experience will complement the talents of our other board members and further strengthen our team."
Gyenes also serves on the boards of a number of public and privately held technology companies, and the Massachusetts Technology Leadership Council. He is a graduate of Columbia University, where he received both his B.A. in mathematics and his M.B.A. degree.
About 170 Systems
170 Systems is the proven leader in software solutions that manage and optimize financial processes for the world's largest companies. With over 40 percent of its customers in the Global 2000, 170 Systems' software embeds best practices in the end-to-end automation of financial processes, including Accounts Payable, Expense Management, Procurement, Accounts Receivable, Asset Management, General Ledger and Project Re-Billing. The result is an unmatched solution that ensures cost-effective and timely management of all transactions via a consistent process so that finance organizations can reduce operating costs, strengthen internal controls, improve service levels and maximize cash flow. 170 MarkView, the company's flagship product suite, is tightly integrated with leading ERP systems and is operational in more than 40 countries worldwide.
For more information about 170 Systems, please call 781-743-1900 (North America), +44 0208 610 6009 (other regions) or visit http://www.170systems.com.
Trademarks
170 Systems and 170 MarkView are trademarks of 170 Systems, Inc.
All other trademarks are the property of their respective owners.
