[September 13, 2004] Portal Software Appoints Dave Labuda CEO CUPERTINO, Calif. --(Business Wire)-- Sept. 13, 2004 -- Portal Software, Inc. (Nasdaq:PRSF) today announced that president and CEO John Little has stepped down, effective immediately. Also effective immediately, the Company's board of directors has appointed Portal Software's co-founder and chief technology officer (CTO) Dave Labuda to the role of president and CEO. John Little will remain with the Company solely as a member of the Board of Directors. "I look forward to continuing to work closely with our customers, partners and employees as we accelerate Portal's evolution to a premier solutions provider," said Labuda. "Our immediate focus will be to streamline our organization to increase operational efficiency and achieve positive cash flow by executing relentlessly against a world-class integrated sales and service strategy." Labuda has partnered with Portal's board of directors to form an operating committee that will provide Portal with deep experience and leadership in international operations, finance and solutions. The committee, which will collaborate to ensure customer and financial excellence, includes Labuda as well as board chairman Rich Moran, a former partner with Accenture; Robert Bond, formerly COO of Rational Software, which was acquired by IBM; and Karen Riley, who was most recently senior vice president of Global Services at Siebel Systems. As co-founder and CTO of Portal Software, Labuda has led Portal Software's architectural design and innovative product strategy since the company's inception. His technology vision and front line leadership with Portal customers over the past decade have made him a recognized and respected counselor to the world's leading communications and media service providers. Prior to co-founding Portal, Labuda was a director at Sun Microsystems. Labuda holds seven patents on software technologies, as well as bachelor's and master's degrees in computer engineering from Case Western Reserve University. "Since co-founding Portal, Dave has worked closely with leading service providers around the world to define and execute innovative billing solutions that dramatically increase competitive advantage," said Rich Moran, chairman of Portal's board of directors. "We are delighted that Dave has agreed to lead Portal's efforts as the Company capitalizes on the market opportunity presented by the increasing demand for end-to-end billing and Revenue Management solutions." About Portal Software, Inc. Portal is the leading worldwide provider of billing and Revenue Management solutions for the global communications and media markets. The company delivers the only platform for the end-to-end management of customer revenue across offerings, channels, and geographies. Portal's solutions enable companies to dramatically accelerate the launch of innovative, profit-rich services while significantly reducing the costs associated with legacy billing systems. Portal is the revenue management partner of choice to the world's leading service providers including: Vodafone, AOL Time Warner, Deutsche Telekom, TELUS, NTT, China Telecom, Reuters, Telstra, China Mobile, Telenor Mobil, and France Telecom. Copyright(C) 2004 Portal Software, Inc. All rights reserved. Infranet and the Portal logo are U.S. registered trademarks, and Portal is a trademark of Portal Software, Inc. All other trademarks are the property of their respective owners. All statements made in this press release are made only as of the date set forth at the beginning of this release. Portal undertakes no obligation to update the information in the event facts or circumstances subsequently change. [ Back To TMCnet.com's Homepage ]