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SAN JOSE, Calif., Aug. 9 /PRNewswire-FirstCall/ — Selectica, Inc.
(Nasdaq: SLTC), a leading provider of sales execution and contract
management solutions, today announced that the board of directors has named
Stephen Bennion as the Company’s new Chairman and Chief Executive Officer.
Mr. Bennion has served as Chief Financial Officer of Selectica since
September 1999. Mr. Bennion replaces Vince Ostrosky, who has stepped down
from the CEO position following a mutual decision reached with the board of
directors that the Company would be better served by a more streamlined
management structure. Mr. Ostrosky will continue to serve on Selectica’s
board of directors.
“The change in senior management reflects Selectica’s ongoing expense
reduction initiative, while also allowing the Company to maintain
continuity in its operations,” said Jamie Arnold, chairman of the
nominating and audit committees of Selectica’s board of directors. “There
is no one more knowledgeable about Selectica than Stephen Bennion. He is
intimately familiar with all aspects of its sales, marketing, engineering
and finance functions and has personally managed the Company’s European
operations for the past year. The board is confident that Selectica can
continue its positive momentum under his leadership.
“We would like to thank Vince Ostrosky for all of his hard work in
creating a stronger company in his tenure as CEO. His guidance as a member
of the board of directors will continue to be highly valuable to the
Company,” said Mr. Arnold.
“I am very excited by the opportunities that Selectica has in front of
it and I am pleased to lead the Company to the next level,” said Mr.
Bennion. “Over the past two years, I believe we have made great strides in
transitioning our business model to more effectively capitalize on our
powerful applications and on-demand solutions. At the same time, we have
significantly reduced our operating expenses and put in place a cost
structure that is more conducive to reaching profitability. We have a great
deal of work to do to further our turnaround, but I believe we have the
right strategies in place to generate improved performance in the future.”
Mr. Bennion has served as Chief Financial Officer of Selectica since
September 1999. He also served as Selectica’s Executive Vice President of
Worldwide Professional Services from October 2002 to May 2004 and Interim
Chief Executive Officer from September 2003 to October 2004. During the
past year, he has been responsible for building the Company’s sales
operations in Europe. Mr. Bennion’s career in Silicon Valley spans 30 years
and includes executive level finance and operating positions with ROLM,
MIPS Computer Systems, CooperVision, Inc., Molecular Dynamics and Worldtalk
(Tumbleweed). Mr. Bennion received his B.S. in accounting and economics
from Weber State University.
Selectica intends to initiate a search for a new Chief Financial
Officer. Until such time that a new Chief Financial Officer is hired, Mr.
Bennion will continue to serve in that position.
New Board Member
Selectica also announced today that Robert Jurkowski has joined the
Company’s board of directors.
Mr. Jurkowski is a software industry veteran with more than 25 years of
experience. He currently serves as the Chief Executive Officer of Intacct
Corporation, where he is responsible for building Intacct into a recognized
leader in the Software as a Service (SaaS) and on-demand market.
Previously, Mr. Jurkowski held senior management positions with a host of
software companies including RightWorks Corporation, Dun & Bradstreet
Software, ADP and Oracle. Mr. Jurkowski holds a bachelor of arts degree in
Economics from the University of Chicago.
“We are very pleased to welcome Bob to our board of directors, as he
brings valuable software industry insight as well as invaluable experience
directing a Software as a Service and on-demand business,” said Mr.
Bennion. “Bob is recognized as a thought-leader in the Software as a
Service market. He has a deep knowledge of the on-demand software business
model as well as thorough understanding of the markets that Selectica is
selling into. Bob also has direct experience in worldwide field operations
and in repositioning go-to-market strategies, which will help drive our
continuing evolution to an application-focused company.”
Following these changes, Selectica’s board of directors will have 7
members, with 5 being classified as independent.

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