FOR IMMEDIATE RELEASE
CombineNet Announces Executive Management Change
Rich Wilson Promoted to President and Chief Operating Officer
PITTSBURGH, PA — December 3, 2009
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, the advanced sourcing technology company, helps companies achieve the absolute best value and lowest total cost of ownership for goods and services. CombineNet's Advanced Sourcing Application Platform enables companies to engage in Expressive Commerce™, the strategic sourcing initiative that allows buyers and sellers to communicate supply and demand more expressively, collaboratively and strategically. The result is a win-win for both buyer and supplier, where greater innovation and efficiency are driven into the supply chain. CombineNet's ASAP consistently produces 10, 15, even 20 percent greater actual cost savings than other e-sourcing solutions, and has delivered more than 45x ROI for the largest businesses in the world including General Mills, PepsiCo, Procter & Gamble, Siemens and others. For more information, visit www.combinenet.com.
Media Contacts:
Greg Holt
CombineNet Inc.
Director of Marketing
Phone: 412.471.8200
gholt@combinenet.com