CALGARY, Feb. 1 /CNW/ - WellPoint Systems Inc., ("WellPoint" or the "Company") (TSX-V:WPS), a leading provider of software and related solutions to the energy industry, today announced the appointment of Mr. Hervé Séguin as the Company's Chief Financial Officer effective February 1, 2010.
Mr. Séguin has over fifteen years of experience as a Chief Financial Officer for public Canadian companies. He brings a wealth of experience in leading debt and equity transactions, including financings, as well as the management of treasury, tax, investor relations, budgeting and planning functions. Prior to joining the Company, he has served as CFO and Corporate Secretary for Certicom Corp., CFO of InfoCast Corporation, and Vice President, Finance & Chief Financial Officer of Promis Systems Corporation Ltd. Mr. Séguin is a Certified Management Accountant (CMA) and Certified General Accountant (CGA). As Chief Financial Officer, Mr. Séguin will have overall responsibility for the financial activities of WellPoint Systems Inc. and its subsidiaries. He will also work with senior management in developing and implementing the Company's strategic growth plan.
Mr. Richard Slack, President and Chief Executive Officer said, "We are delighted that Hervé has agreed to join WellPoint Systems. As an important member of our senior management team, I have no doubt that his exemplary track record and experience in the software industry, as well as his expertise in capital markets, will contribute to the achievement of our vision to deliver market leading enterprise application solutions to the global energy industry."
Mr. Bharat Mahajan, who has served as Chief Financial Officer since July, 2008, will step down in his role as CFO, effective February 1, 2010, but will remain with the Company through February 28th in a consulting role to assist in an orderly transition. Mr. Mahajan is leaving to pursue other opportunities. Mr. Slack added, "I would like to thank Bharat for his dedication and contribution to WellPoint Systems. During his time as CFO, Bharat played a key role in helping the Company initiate significant change that has helped position us to take advantage of improving market conditions. We wish Bharat well in his future endeavors."
About WellPoint Systems Inc.
WellPoint provides premier software and related services for managing critical operations within the energy industry. As a Microsoft Gold Certified Partner since 2005, WellPoint is the only Independent Software Vendor (ISV) and Microsoft Dynamics partner dedicated to the energy sector. It is breaking new ground with the creation of a more comprehensive, integrated energy software suite based on existing Microsoft ERP technology that utilizes state-of-the-art Dynamics AX(R) and .NET architectures. WellPoint also provides software and services under the BOLO, IDEAS International and AX EAM brands.
Founded in 1997, Calgary-based WellPoint Systems also has major operations in Denver, CO, Houston, TX, Livingston, NJ, Tampa, FL, Tunis, Tunisia and Pretoria, South Africa. WellPoint is publicly traded on the TSX Venture Exchange under the symbol WPS.
This document contains forward-looking statements. Some forward looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "indicates" or similar expressions. The statements are not a guarantee of future performance and are inherently subject to risks and uncertainties. The Company's actual results could differ materially from those currently anticipated due to a number of factors, including, but not limited to, successful integration of structural changes, including restructuring plans, acquisitions, technical or manufacturing or distribution issues, the competitive environment for the Company's products, the degree of market penetration of the Company's products, and other factors set forth in reports and other documents filed by the Company with Canadian securities regulatory authorities from time to time.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE WELLPOINT SYSTEMS INC.
For further information: For further information: Richard Slack, President and Chief Executive Officer, (303) 987-2238, firstname.lastname@example.org