TMCnet News
Internet Capital Group Engages Former IBM Executive to Drive Partner Company GrowthWAYNE, Pa. --(Business Wire)-- Jan. 18, 2005 -- Internet Capital Group, Inc. (Nasdaq:ICGE) today announces the addition of Dr. Michael D. Zisman to its management team, functioning as a managing director. "Since its formation in 1996, ICG has consistently attracted some of the industry's best talent, and Mike is a technology industry veteran who brings with him rich experience in both operations and strategy development," said Buckley. "We're proud to add him to our senior team and look forward to leveraging his knowledge and insights to help us attain our mission of building and owning successful Internet software companies." Zisman will lend his industry expertise, strategic guidance and operational support to some of ICG's Core partner companies, in addition to remaining on the ICG Board of Directors. His vast experience at technology industry giants like IBM and Lotus will be invaluable as ICG continues to focus on driving top line growth at its partner companies and striving towards consistent profitability. "The Internet today is the cornerstone of the world's communication infrastructure, and yet in many ways the long term impact of this technology is still not well understood. I believe we are now at the point where the Internet will have a dramatic impact on how industries are structured and on how firms within those industries interact with each other in complex industry ecosystems," said Zisman. "Through my involvement with ICG over the past few years, I am confident that a number of its partner companies are positioned to capitalize on the opportunities still inherent in this evolving industry. I am eager to work with the management teams to help position these Internet software platform companies for success as they deliver solutions that drive business productivity by providing software as a service." Before retiring from IBM in 2004, Zisman was vice president of corporate strategy and focused on IBM's On Demand strategy. Previous to this position, he was General Manager of Storage Software for the IBM Storage Systems Group. This position followed his post as Vice President of Emerging Business Development, reporting to the IBM Vice Chairman. Zisman was also in the IBM Software Group and led IBM's entry into the knowledge management market and distributed learning market. Prior to that, Zisman served as CEO of Lotus Development Corporation, shortly after Lotus was acquired by IBM. During his tenure at IBM, Zisman served on the IBM Worldwide Management Council and the IBM Corporate Technology Council. Before joining IBM, Zisman was Senior Vice President of the Lotus Communications Products Group. He joined Lotus in 1994 after the Company's acquisition of Soft-Switch, Inc., a software firm that he founded in 1979 and headed until that acquisition. Prior to founding Soft-Switch, he was a member of the faculty at the Sloan School of Management at MIT. Zisman earned a bachelor's degree in chemical engineering from Lehigh University, a master's degree in systems engineering from the University of Pennsylvania and a doctorate in decision sciences from the Wharton School at the University of Pennsylvania. He is a trustee of the University of Pennsylvania and Lehigh University, an overseer of the Penn School of Engineering and Applied Science, a member of the Advisory Board of the College of Engineering at Lehigh, and a member of the Philadelphia Orchestra Board of Directors. About Internet Capital Group Internet Capital Group (www.internetcapital.com) builds and owns Internet software companies that drive business productivity and reduce transaction costs between firms. Founded in 1996, ICG devotes its expertise and capital to maximizing the success of these platform companies that are delivering on-demand software and service applications to customers worldwide. Safe Harbor Statement under Private Securities Litigation Reform Act of 1995 The statements contained in this press release that are not historical facts are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future performance of our partner companies, acquisitions or dispositions of interests in additional partner companies, the effect of economic conditions generally, capital spending by customers and development of the e-commerce and information technology markets, and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These and other factors may cause actual results to differ materially from those projected. |
