John Livingston Resigns as CEO of Absolute Software, Errol Olsen Named Interim CEO
Vancouver, Canada: December 11, 2013 – 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.
Absolute empowers more than 12,000 customers worldwide to protect devices, data, applications, and users against theft or attack — both on and off the corporate network. With the industry’s only tamper-proof endpoint visibility and control solution, Absolute allows IT organizations to enforce asset management, security hygiene, and data compliance for today’s remote digital workforces. Absolute’s patented Persistence®technology is embedded in the firmware of Dell, HP, Lenovo, and 22 other leading manufacturers’ devices for vendor-agnostic coverage, tamper-proof resilience, and ease of deployment. See how it works atwww.absolute.comand follow us at@absolutecorp.
This press release contains forward-looking statements and financial outlook that involve risks and uncertainties. These forward-looking statements and financial outlook relate to, among other things, the expected performance, functionality and availability of the Company’s services and products, and other expectations, intentions and plans contained in this press release that are not historical facts. When used in this press release, the words “plan,” “expect,” “believe” and similar expressions generally identify forward-looking statements. These statements reflect the Company’s 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, readers of the press release should understand that Absolute cannot assure them that the forward-looking statements and financial outlook contained in this press release will be realized. Furthermore, the forward-looking statements and financial outlook contained in this press release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements and financial outlook, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.