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Ultimus Appoints Richard Davis as Chief Executive Officer; Anne Huemme Named Chief Financial Officer
CARY, N.C. --(Business Wire)-- Ultimus(R), the #1 provider of Business Process Management (BPM) and workflow automation software and solutions, with more than 1,600 customers worldwide, today announced that technology industry executive Richard Davis has joined the company as Chief Executive Officer, effective immediately. Mr. Davis succeeds Rashid Khan, who has served as Ultimus' CEO since its inception 12 years ago. Mr. Khan will continue his involvement with the company as Chief Technical and Strategy Officer, using his deep industry expertise to help drive the company's technology vision and strategy.
In addition, Anne Huemme has joined the company as Chief Financial Officer. Together, Mr. Davis and Ms. Huemme bring over 40 years of technology industry experience to Ultimus. According to a Forrester Research report, business process management suites' (BPMS) license, services, and maintenance revenue from software vendors will grow from $1.2 billion in 2005 to more than $2.7 billion by 2009, which is more than a 21% compounded annual growth rate (CAGR), as enterprises seek to improve the efficiency, effectiveness, and strategic value of key business processes. (Demand For Business Process Management Suites Will Accelerate Through 2009, Forrester Research, Inc., January 2006.)
"Ultimus has become one of the leading BPM players in the world, with its unparalleled capability to deliver successful implementations in 16 languages across 80 countries," said Rashid Khan, Chief Technical and Strategy Officer of Ultimus. "With the recent addition of the Ultimus Adaptive BPM Suite(TM), version 8, the company is continuing to lead the industry in addressing customer demand for adaptive technology that optimizes business processes."
"With this strong foundation of an innovative product and unparalleled worldwide delivery capability, now is the right time for Ultimus to bring on a seasoned technology veteran to help us capitalize on the BPM industry's significant growth. With his unique set of skills and expertise, Richard is ideally suited for the CEO position at Ultimus. His 25-plus years of industry experience and the leadership role he has played at major companies make him uniquely qualified to lead our company through one of the most exciting times in its history," Khan added.
With a successful track record in growing best of class technologies in emerging markets, Mr. Davis has held executive positions for more than 25 years in a wide range of technology organizations and has helped pioneer new markets, such as Software Streaming.
Most recently he served as the Chairman, CEO and President of Ardence, Inc., where his efforts to expand the company's software offerings led to the company's acquisition by Citrix Systems, Inc. in January 2007. Prior to Ardence, Inc., he served as president and CEO at Rand McNally & Company, where he helped the 147-year-old company take advantage of new growth opportunities by overseeing the introduction of new software products and online services. At Applix, Inc., where Mr. Davis served as president of customer operations/sales, his direction and leadership helped the company increase sales from $4 million to $51 million. Mr. Davis also served as CEO of iMarket, which was acquired by Dun & Bradstreet, and as president and CEO of Nabnasset Corporation, which was acquired by Quintas Corporation.
"Over the past 12 years, Rashid and his executive team have created a company that has redefined the way global organizations automate their business processes, and I'm both honored and excited about the prospect of building on the foundation they've created," said Davis. "As the leading BPM vendor worldwide, Ultimus has all the ingredients to get to the next level as a $100M+ company, with its world-class customer base, superior service and the strongest, most adaptive, human-centric BPM suite available. I'm impressed with the management team's high level of expertise and professionalism and look forward to working with them to drive the business forward in this exciting and dynamic time for BPM."
In addition, Anne Huemme brings to Ultimus extensive financial management experience, having built a solid record of achievements for a number of privately and publicly held companies. Most recently, she served as CFO at Ardence, Inc., where she planned and managed the company's corporate finances, including financial reporting and planning, investor relations and information technology. She has also held CFO positions at Optical Solutions, Inc., Cafe Odyssey, Inc. and Rare Hospitality International, Inc. Earlier, Ms. Huemme served as a vice president at Prudential-Bache Securities and as a division director of asset development at Pizza Hut, Inc. Ms. Huemme earned an M.B.A from Fuqua School of Business, Duke University and a B.A. in Economics from Duke University.
About Ultimus
Ultimus is the leader in human-centric, adaptive Business Process Management (BPM). Long recognized as an industry pioneer, Ultimus has automated more processes than any other BPM vendor worldwide. The company's award-winning technology adapts to people, systems and change; is available in 16 languages; and is deployed by more than 1,600 customers around the world. Headquartered in Cary, NC, Ultimus has offices in North America, Latin America, Europe, Asia, the Middle East and Australia with market presence in more than 80 countries. For more information, visit www.ultimus.com.
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