John Livingston Resigns as CEO of Absolute Software, Errol Olsen Named Interim CEO
VANCOUVER, Dec. 11, 2013 /PRNewswire/ - Absolute® Software Corporation (TSX: ABT), the industry standard for persistent endpoint security and management solutions for computers, laptops, tablets and smartphones, today announced that John Livingston has tendered his resignation as Chief Executive Officer and as a member of the Board of Directors effective today. Errol Olsen, Chief Financial Officer, will serve as interim CEO while the Board conducts a search for a new CEO and Mr. Daniel Ryan will serve as Chairman of the Board.
"We are tremendously thankful for John's contributions over the past 20 years that have seen Absolute evolve into a global leader in endpoint security and management," said Mr. Ryan. "The company remains committed to our strategic focus on accelerating sales growth and expanding into new markets. We believe we have the right product mix to address the security challenges faced by organizations today as they adopt mobility at an increasing rate."
"It has been a privilege to lead Absolute from a small Vancouver operation to the global enterprise software company that it has become today," stated Mr. Livingston. "As we enter our 20th year and Absolute moves to the next phase of growth, the time is right for a new perspective and new leadership."
Mr. Ryan has served as a director since July 2011. He is a seasoned executive with over 25 years experience in the technology sector focused on business development, sales, marketing and product strategy. Since 2011 Dan has been CEO of RedBrick Health, a health engagement company, where he is responsible for driving the organization's overall strategy and growth. Prior to RedBrick, he was president and CEO at Secure Computing, a $250M leader in enterprise security solutions, which was acquired by McAfee where Dan served as EVP and General Manager of their $500M Network Security Business Unit.
About Absolute Software
Absolute Software Corporation (TSX: ABT) is the industry standard in persistent endpoint security and management for computers, laptops, tablets and smartphones. The Company, a leader in device security and management tracking for 20 years, has over 30,000 commercial customers worldwide. Absolute's solutions - Computrace®, Absolute Manage®, Absolute Service, Absolute Secure Drive, and Absolute LoJack® - provide organizations with actionable intelligence to prove compliance, securely manage BYOD, and deliver comprehensive visibility and control over all of their devices and data. Absolute is one of only four vendors to be recognized on both Magic Quadrants based on providing customers with the ability to secure and manage many different types of devices using a single solution. Absolute persistence technology is embedded in the firmware of computers, netbooks, tablets and smartphones by global leaders, including Acer, ASUS, Dell, Fujitsu, HP, Lenovo, Motion, Panasonic, Samsung, and Toshiba, and the Company has reselling partnerships with these OEMs and others, including Apple. For more information about Absolute Software, visit www.absolute.com.
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, the expected performance, functionality and availability of our services and products, and other expectations, intentions and plans contained in this press release that are not historical fact. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and general market conditions. In light of the many risks and uncertainties you should understand that we cannot assure you that the forward-looking statements contained in this press release will be realized. Furthermore, the forward-looking statements contained in this press release are made as at the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
©2013 Absolute Software Corporation. All rights reserved. Computrace and Absolute are registered trademarks of Absolute Software Corporation. LoJack is a registered trademark of LoJack Corporation, used under license by Absolute Software Corporation. LoJack Corporation is not responsible for any content herein. U.S. patents No. 5,715,174, No. 5,764,892, No. 5,802,280, No. 5,896,497, No. 6,087,937, No. 6,244,758, No. 6,269,392, No. 6,300,863, No. 6,507,914, No. 7,818,557, No. 7,818,803, No. 7,945,709, No. 8,062,380, No. 8,234,359, No. 8,241,369, No. 8,307,055, No. 8,332,953, No. 8,346,234, No. 8,362,901, No. 8,418,226, No. 8,419,806, No. 8,441,348, No. 8,510,825, No. 8,556,991 and No. 8,566,961. Canadian patents No. 2,211,735, No. 2,284,806, No. 2,205,370 and No. 2,771,208. U.K. patents No. EP0793823, No. GB2298302, and No. GB2338101. German patent No. 69512534. Australian patent No. 699045. Japanese patents No. 4067035, No. 5220924 and No. 5363305. Mexican patents No. 297,406 and No. 306,287. Russian patent No. 2,460,220. The Toronto Stock Exchange has neither approved nor disapproved of the information contained in this news release.
SOURCE Absolute Software Corporation