Absolute Announces Management Changes
Appoints Rob Chase as COO, Errol Olsen as CFO
Vancouver, Canada, July 12, 2010 – Absolute® Software Corporation ("Absolute" or the "Company") (TSX: ABT), the leading provider of firmware-based, patented, computer theft recovery, data protection and secure computer lifecycle management solutions today announced that Rob Chase is moving from his position as Chief Financial Officer of the Company to take on the role of Chief Operating Officer. Joining Absolute is Errol Olsen who has been appointed Chief Financial Officer.
As Chief Operating Officer, Rob will be responsible for improving the Company's overall operational efficiency and effectiveness. He has been with Absolute Software since July 2000 and was appointed Chief Financial Officer in April 2002. Rob is a Chartered Accountant with previous experience at Deloitte & Touche, Arthur Anderson and Towers Perrin.
Errol Olsen has more than twelve years of software industry experience and joins Absolute from Inetco Systems, where he has served as Chief Financial Officer since 2008. He has previously held senior finance roles at Explorer Software, Pivotal Corporation and Infowave Software. Errol has supervised the finances, finance operations and process improvements of rapidly growing companies, has participated in mergers and acquisitions, debt and equity financings and has managed public company reporting. He is a Chartered Accountant and earned his designation at KPMG LLP in Vancouver, where he began his career in 1992.
"These appointments improve our ability to execute on our business strategy," said John Livingston, Chairman and Chief Executive Officer of Absolute. "Rob has been with us for ten years and is deeply familiar with our operations across all areas of the organization. He has the skills to help us increase sales and cash flow, and to improve efficiency. Errol's financial and software sector expertise ensures that we will continue to have the experienced resources in place to manage our finance operations in support of our growth objectives. Both Rob and Errol will participate in our fourth quarter results conference call on August 23, 2010."
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.
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