Former Broadvision Executive Philip Oreste to Join Workstream Executive
BURLINGAME, CALIF., June 11 /CNW/ - Workstream Inc. (NASDAQ: WSTM), a
leading provider of On-Demand Compensation, Performance and Talent Management
solutions, today announced the appointment of Philip Oreste as the Company's
new Chief Financial Officer.
"We are pleased to have someone of Phil's caliber join the Workstream
executive team", said Deepak Gupta, President and CEO of Workstream. "His
financial experience and knowledge of operational and public company
requirements for high growth businesses will be a strong asset as we scale our
business and expand globally."
Philip Oreste, with 19 years of experience as a financial professional,
will formally assume the CFO role from the current Chief Financial Officer,
Stephen Lerch after a two to three month transition period. Mr. Oreste was
most recently the President, COO and CFO at Blue Titan Software, a
privately-held SOA infrastructure software company, headquartered in San
Francisco, which was acquired last year. Prior to Blue Titan, Mr. Oreste had
held executive finance positions at Broadvision (NASDAQ: BVSN) and Intershop
Communications. Mr. Oreste is a certified public accountant and holds a
bachelor's of science degree in accounting from the University of San
"I am pleased and excited to be joining a very talented team being
assembled by Deepak at Workstream," stated Mr. Oreste. "The Company's strong
products and established customer base in the rapidly emerging Talent
Management software market were very attractive to me and I look forward to
being a part of transforming Workstream into a market leader."
"I would like to thank Steve Lerch for his many positive contributions to
our Company over the past two plus years" said Michael Mullarkey, Chairman of
the Board of Workstream. "During his tenure, the team achieved numerous
financial and operational efficiencies, improved financial credibility, and
benefited from his strategic leadership. We wish him well in his new
Reporting to Workstream's President and CEO Deepak Gupta, Oreste's
responsibilities will include the company's finance, investor relations,
purchasing, facilities and order management functions. Hiring of Mr. Oreste
consolidates the majority of the Workstream executive management team into a
single location in Burlingame, California.
About Workstream Inc.
Workstream provides on-demand compensation, performance and talent
management solutions and services that help companies of all size manage the
entire employee lifecycle - from recruitment to retirement. Workstream's
TalentCenter provides a unified view of all Workstream products and services
including Recruitment, Performance, Compensation, Development and Transition.
Access to TalentCenter is offered on a monthly subscription basis under an
on-demand software delivery model to help companies build high performing
workforces, while controlling costs. With offices across North America,
Workstream services customers including Chevron, The Gap, Home Depot, Kaiser
Permanente, Motorola, Nordstrom, VISA and Wells Fargo. For more information
visit www.workstreaminc.com or call toll free 1-866-470-WORK.
This press release contains forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. These statements are based on the current expectations or beliefs
of Workstream's management and are subject to a number of factors and
uncertainties that could cause actual results to differ materially from those
described in the forward-looking statements. The following factors, among
others, could cause actual results to differ materially from those described
in the forward-looking statements: inability to grow our client base and
revenue because of the number of competitors and the variety of sources of
competition we face; client attrition; inability to offer services that are
superior and cost effective when compared to the services being offered by our
competitors; inability to further identify, develop and achieve success for
new products, services and technologies; increased competition and its effect
on pricing, spending, third-party relationships and revenues; as well as the
inability to enter into successful strategic relationships and other risks
detailed from time to time in filings with the Securities and Exchange
For further information:
For further information: Workstream Stacey Virgo, 1-866-953-8800, Ext.