Rich Wilson Promoted to President and Chief Operating Officer

PITTSBURGH, Dec. 3 /PRNewswire/ -- CombineNet announced today that Tony Bonidy, President and CEO, will resign after serving as the top executive of the advanced sourcing technology company for seven years, effective immediately. Dr. Richard Wilson, CombineNet's Chief Operating Officer, has been promoted to President and COO, and will take over the executive management of the company as it builds upon growth momentum generated in 2009 by the execution of new product and delivery strategies.

"Under Tony's leadership, CombineNet's products and services have evolved to a point of clear competitive advantage and the company has become a recognized force in the sourcing technology marketplace," said Braden Waverley, Executive Chairman of the Board. "This 'passing of the torch' comes at the brightest moment in CombineNet's history, a time in which the company's strategy and ability to execute has provided strength and momentum in a tough economy, when new product vision and development has translated into significant customer traction in a challenging marketplace. Rich Wilson and the rest of the CombineNet management team are ready to build upon this momentum and continue CombineNet's growth trajectory."

Rich Wilson joined CombineNet in 2003, after spending twenty years in aviation, transportation management, systems development and consulting positions with organizations including US Airways, British Airways, Sabre and Oracle. He has held the position of Chief Operating Officer of CombineNet since 2007, where he has had executive management over the company's consulting, professional services, product engineering, and information technology operations. He now assumes leadership over the sales, marketing, product management and finance operations for CombineNet. Dr. Wilson graduated with honors from Stanford University and earned M.Phil and Ph.D. degrees in sociology from Yale University.

"CombineNet has developed, is executing upon, and is seeing the results of a growth strategy that supports our customers' efforts to use our technology more often, more broadly, and more easily. As we build upon the momentum we have achieved in 2009, despite the incredibly challenging economic climate, we will continue to generate strong business results through product, channel and delivery strategies," said Rich Wilson, President and COO of CombineNet. "We thank Tony for his leadership and friendship over the past seven years, and we wish him the best as he moves on to his next opportunity."

About CombineNet

CombineNet is the advanced sourcing technology company. The company's optimization-driven solutions deliver the absolute best total cost of goods and services based on the buying organization's unique business needs. Easy to use advanced sourcing solutions significantly increase the speed and efficiency of the sourcing cycle for a wide variety of spend categories unaddressed by standard e-sourcing technologies. CombineNet has delivered more than $5 Billion in bottom line savings for the largest businesses in the world including General Mills, PepsiCo, Procter & Gamble, Siemens and others. For more information, visit www.combinenet.com.

SOURCE CombineNet

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