Coverity Appoints New Chief Financial Officer

SAN FRANCISCO, Feb. 13, 2012 /PRNewswire/ -- Coverity, Inc., the development testing leader, announced today the appointment of John Calonico as Senior Vice President, Chief Financial Officer, and Secretary. John brings three decades of expertise in financial management and operational excellence in the technology sector where he has led several companies through profitable growth, impactful integration of acquisitions and a successful initial public offering.

At Coverity, he will be responsible for the continued building and shaping of the Company's long- term financial model, accounting systems, and internal controls, and will manage all administrative functions including finance, accounting, facilities, human resources, and information systems. His experience and leadership will ensure Coverity continues to build upon its record growth in fiscal year 2012 and beyond to further its leadership position within the development testing market.

Prior to Coverity, Calonico served as the Executive Vice President and Chief Financial Officer of Aster Data Systems, a market leader in data management and advanced analytics for diverse and big data, where he ran finance, operations, and information systems, and led the Company through its acquisition by Teradata Corporation in April 2011. Prior to Aster Data Systems, Calonico served as the Chief Financial Officer of Interwoven, a leader in content management solutions, where he helped drive profitable growth as sales reached more than $250 million prior to its acquisition by Autonomy for approximately $800 million. Calonico has also served as the Chief Financial Officer of Blue Martini Software, Inc., where he organized and successfully completed the Company's $172 million initial public offering including selecting underwriters and managing and directing the Company's communications with Wall Street. Prior to Blue Martini, John held vice president of finance positions for BEA Systems and Autodesk, and began his career with the accounting firm of Ernst & Young.

"John will be an integral part of Coverity's executive team as we continue on our path of rapid growth," said Anthony Bettencourt, Chief Executive Officer at Coverity. "We are experiencing record success in all areas of the company, and we are glad to have another team member with a proven track record of success in scaling technology companies in a key leadership position. I look forward to working with John again."

About Coverity
Coverity (www.coverity.com), the development testing leader, is the trusted standard for companies that need to protect their brands and bottom lines from software failures. More than 1,100 Coverity customers use Coverity's development testing suite of products to automatically test source code for software defects that could lead to product crashes, unexpected behavior, security breaches, or catastrophic failure. Coverity is a privately held company headquartered in San Francisco. Coverity is funded by Foundation Capital and Benchmark Capital. Follow us on Twitter or check out our blog.

SOURCE Coverity