Certicom Corporation will host a conference call and live webcast at
10 a.m. (ET) on Monday, April 2, 2007. For dial-in numbers, please refer
to the conference call information at the end of this release.
MISSISSAUGA, ON, April 2 /CNW/ - Certicom Corporation (TSX: CIC) (the
"Company") today announced that Bernard Crotty, Chairman of the board of
directors has been appointed President and Chief Executive Officer on an
interim basis. Jeffrey Chisholm, a board member and Chair of the Audit
Committee, will assume the role of lead director. The Company also announced
Ian McKinnon has resigned as President and Chief Executive Officer. The
changes are effective immediately.
The board of directors has initiated a search for a new President and
Chief Executive Officer.
"Certicom has a world-class intellectual property licensing portfolio and
a clear strategy designed to help it build and enhance value for its
shareholders," said Mr. Crotty. "The Company is recognized as a global leader
in elliptic curve cryptography and is poised to leverage this position to
generate stronger revenues and sustainable profits. We intend to win long-term
licensing agreements with other companies and vigorously defend our patent
The Company also announced that it has retained the Fish & Neave
Intellectual Property Group of U.S.-based law firm Ropes & Gray and Kasowitz
Benson Torres & Friedman LLC, also U.S.-based, to advise the Company in these
Mr. Crotty has been a member of the board since 1996. He is the former
Chairman and CEO of Comnetix Inc. and a former partner with the law firm
McCarthy Tetrault in Toronto. He has also worked with Gibson Dunn &
Crutcher LLP in Los Angeles and is a member of the California State Bar.
Dr. Scott Vanstone, a co-founder of the Company, will remain in the
position of Executive Vice President, Strategic Technology and will continue
to be responsible for research and technology development at Certicom.
The Company has more than 350 patents for elliptic curve cryptography
(ECC), which is the world's largest intellectual property portfolio for these
types of patents. Its ECC technology is designed to provide strong, efficient
cryptography that is increasingly required by government, multinational
companies, content providers, and device manufacturers to embed security into
their products. Certicom has a strategic growth plan in place for five high
growth target markets, and the Company will now be focusing more on the
licensing and protection of its patents.
"On behalf of the Board of Directors, I would like to thank Ian McKinnon
for his service and many contributions to Certicom. Mr. McKinnon led the
company through a very successful restructuring and growth phase, including a
landmark patent licensing agreement with the U. S. Government's National
Security Agency. We have jointly agreed on this direction and we wish him well
in his future endeavors," said Mr. Crotty.
Mr. McKinnon said, "I am very proud of what the Certicom team has
accomplished over the last five years. The future opportunities for the
company have never been brighter, and it is the right time to hand over the
reins of leadership as Certicom moves to execute the next phase of its growth
Certicom protects the value of content, applications and devices with
government-approved security. Adopted by the National Security Agency (NSA)
for classified and sensitive but unclassified government communications,
Elliptic Curve Cryptography (ECC) provides the most security per bit of any
known public-key scheme. As the undisputed leader in ECC, Certicom security
offerings are currently licensed to more than 300 customers including General
Dynamics, Motorola, Oracle, Research In Motion and Unisys. Founded in 1985,
Certicom's corporate offices are in Mississauga, Ontario, Canada with
worldwide sales and marketing headquarters in Reston, Virginia and offices in
the U.S., Canada and Europe.
Conference Call & Webcast
Management will host a conference call at 10 a.m. (ET) on Monday,
April 2, 2007 to answer questions from analysts and institutional investors.
The call can be accessed at 416-644-3417 or 1-800-732-6179. The call will also
be webcast live and archived on the Certicom website at www.certicom.com. A
taped rebroadcast will be available to listeners following the call until
12 a.m. on April 9, 2007. The rebroadcast can be accessed at 416-640-1917 or
1-877-289-8525 and quote the pass code 21225593 followed by the number sign.
Except for historical information contained herein, this news release
contains forward-looking statements that involve risks and uncertainties.
Factors which could cause actual results or events to differ materially from
current expectations include, among other things: the ability of the Company
to successfully implement its strategic initiatives and whether such strategic
initiatives will yield the expected benefits; the ability of the Company to
develop, promote and protect its proprietary technology security breaches or
defects in the Company's products; competitive conditions in the businesses in
which the Company participates; changes in consumer spending; the outcome of
legal proceedings as they arise; general economic conditions and normal
business uncertainty; consolidation in the Company's industry and by its
customers; customer preferences towards product offerings; the risk that
customers may cancel their contracts with the Company; reliance on a limited
number of customers; demand for ECC-based technology; performance of the
Company's management team and the Company's ability to attract and retain
skilled employees; operating the Company's business profitably; fluctuations
in revenue and foreign currency exchange rates; interest rate fluctuations and
other changes in borrowing costs; the ability to develop and maintain
strategic relationships; and other factors identified under the heading "Risk
Factors" in the Company's annual information form dated July 26, 2006 and
filed on SEDAR at www.sedar.com.
While the Company believes that its forecasts and assumptions are
reasonable, results or events predicted in this forward-looking information
may differ materially from actual results or events.
Certicom, Certicom Security Architecture, Certicom Trust Infrastructure,
Certicom CodeSign, Certicom KeyInject, Security Builder, Security Builder API,
Security Builder BSP, Security Builder Crypto, Security Builder ETS, Security
Builder GSE, Security Builder IPSec, Security Builder NSE, Security Builder
PKI and Security Builder SSL are trademarks or registered trademarks of
Certicom Corp. All other companies and products listed herein are trademarks
or registered trademarks of their respective holders. Information subject to
For further information:
For further information: Investors and Financial Analysts: Hervé Séguin,
Chief Financial Officer, Certicom Corp., (905) 501-3827, firstname.lastname@example.org;
Media: John Vincic, Executive Vice President, BarnesMcInerney Inc., Cell:
(647) 402-6375, Office: (416) 367-5000 ext. 249, email@example.com