Phoenix Technologies Names Rich Geruson President and CEO

MILPITAS, Calif., March 17, 2011 /PRNewswire/ -- Phoenix Technologies today announced that its Board of Directors has named Rich Geruson President and Chief Executive Officer. Additionally, Mr. Geruson has been appointed to the Board of Directors.

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"We are delighted that Rich has joined Phoenix to lead its next phase of growth and success," said Nick Kaiser, Chairman of the Board. "Rich has an exceptional track record of creating rapid business growth and increasing shareholder value. His accomplished background in the mobile PC, wireless, software and computer hardware industries is an excellent match for the opportunities ahead for Phoenix."

Before joining Phoenix, Mr. Geruson was the Chief Executive Officer of VoiceSignal Technologies. During his tenure at VoiceSignal, Mr. Geruson built the company into the world leader in voice recognition software for mobile phones, increasing shareholder value over tenfold and culminating in the sale of the company for twelve times its revenue.

Prior to VoiceSignal, Mr. Geruson was Senior Vice President at Nokia Americas' mobile phone business where he helped grow the business almost tenfold, tripling its market share and giving Nokia the number one share position in the United States and, for the first time in its history, the number one share position in the world.

Previous to Nokia, Mr. Geruson was Vice President and General Manager of IBM's Networking Distribution Business in North America and also served as Vice President of Worldwide Marketing for Networking Hardware. As one of the youngest Vice Presidents in the company's history, Mr. Geruson accelerated growth and helped transform IBM's distribution model by launching indirect sales channels for the networking business worldwide.

Prior to IBM, Mr. Geruson was Vice President at Toshiba Americas' mobile computing business. At Toshiba, Mr. Geruson helped generate rapid growth, doubled market share, and propelled Toshiba from fifth place to the number one share position. Mr. Geruson has also held executive positions at other firms including McKinsey & Company where he developed and helped execute strategy for several Fortune 500 companies.

Mr. Geruson has earned three graduate degrees from the University of Oxford, including a Ph.D. in Economics. He was also a member of the research faculty at Harvard Business School, where he completed the book, A Theory of Market Strategy, published by Oxford University Press.

Mr. Geruson succeeds Tom Lacey, who served as Phoenix's President and Chief Executive Officer through February 2011.

About Phoenix Technologies Ltd.

Phoenix Technologies Ltd, the leader in core systems software products, services, and embedded technologies, pioneers open standards and delivers innovative solutions that enable the PC industry's top system builders and specifiers to differentiate their systems, reduce time-to-market, and increase their revenues. The Company established industry leadership and created the PC clone industry with its original BIOS product in 1983. Phoenix has over 200 technology patents issued and pending and has shipped firmware in over one billion systems. Phoenix is headquartered in Milpitas, California with offices worldwide. For more information, visit http://www.phoenix.com.

Phoenix, Phoenix Technologies, and the Phoenix Technologies logo are trademarks and/or registered trademarks of Phoenix Technologies Ltd. All other marks are the marks of their respective owners.

Contact: Robert Andersen of Phoenix Technologies Ltd. +1-408-570-1000

SOURCE Phoenix Technologies Ltd.