Technology Industry Veteran Jay Nussbaum Joins MicroStrategy Board
Current KPMG Consulting and Former Oracle Executive Brings Extensive Software Industry Experience and Federal Government Insight
McLEAN, Va., (January 24, 2002) –
MicroStrategy® Incorporated (NASDAQ: MSTR), a leading worldwide provider of business intelligence software, today announced the appointment of former Oracle Corporation and current KPMG Consulting executive Jay Nussbaum to the MicroStrategy board of directors.
In December 2001, Nussbaum joined KPMG Consulting as Executive Vice President for Managed Services and Enterprise Solutions. Prior to joining KPMG Consulting, he had also served on the KPMG Consulting board of directors. Nussbaum is also presently a member of the board of directors of the Northrup Grumman Corporation. Nussbaum’s appointment fills the position on MicroStrategy’s Board created by the departure of Frank Ingari, who left MicroStrategy’s Board in late 2001 to pursue other interests.
Prior to his employment with KPMG Consulting, Nussbaum spent ten years with Oracle Corporation. Nussbaum joined Oracle in 1991 as the Senior Vice President and General Manager of what was then Oracle Federal. During Nussbaum’s tenure at Oracle, Oracle Federal’s revenue grew from around $60 million to more than $1.5 billion in 2001. Nussbaum also served as Executive Vice President and oversaw the creation of Oracle Services Industries.
As Executive Vice President, Nussbaum reported directly to Oracle CEO and Chairman Larry Ellison. Nussbaum was also a member of Oracle’s Executive Committee.
“We are very proud to have Jay join the MicroStrategy board,” said MicroStrategy Chairman and CEO Michael J. Saylor. “Jay is a widely recognized technology industry all-star. He will bring a new dimension of experience, insight and wisdom to our board. We expect that Jay will also help make us a smarter, more mature company. The appointment of such an industry leader validates MicroStrategy’s own growing leadership.”
Nussbaum said of his appointment: “Having worked at Oracle for ten years and helped it rise to its current dominant position, I believe I can recognize a software company with a bright future. With its leading technology, innovative culture, and talented employees, MicroStrategy is precisely that type of company. I look forward to joining the Board and helping it achieve the milestones it has set out for itself in the years ahead.”
About MicroStrategy Incorporated
Leadership in a Critical Market: Founded in 1989, MicroStrategy is a worldwide leader in the critical business intelligence software market. Large and small companies alike are harnessing MicroStrategy’s business intelligence software to gain vital insights from their data to help them proactively enhance cost-efficiency, productivity and customer relations and optimize revenue-generating strategies. MicroStrategy’s business intelligence platform offers exceptional capabilities that provide organizations — in virtually all facets of their operations — with user-friendly solutions to their data query, reporting, and advanced analytical needs, and distributes valuable insight on this data to users via Web, wireless, and voice. PC Magazine recently selected MicroStrategy 7(TM) as the 2001 “Editors’ Choice” for business intelligence software.
Built for the Internet: MicroStrategy 7 is the Scalable Business Intelligence Platform Built for the Internet(TM). Its pure-Web architecture provides Web reporting, security, performance and standards that are critical for Web deployment. Within intranets, MicroStrategy’s products provide employees with information to enable them to make better, more cost-effective business decisions. In extranets, enterprises can use MicroStrategy 7 to build stronger relationships by linking customers and suppliers via the Internet.
Diverse Customer Base: MicroStrategy’s customer base cuts across industry and sector lines, with approximately 1,500 enterprise-class customers, including Lowe’s Home Improvement Warehouse, AT&T Wireless Group, Wachovia and GlaxoSmithKline. MicroStrategy also has relationships with over 400 systems integrators and application development and platform partners, including IBM, PeopleSoft, Compaq, Informatica and JD Edwards.
MicroStrategy is listed on Nasdaq under the symbol MSTR. For more information on the company, or to purchase or demo MicroStrategy’s software, please visit MicroStrategy’s Web site at http://www.microstrategy.com.
This press release may include statements that may constitute “forward- looking statements,” including its estimates of future business prospects or financial results and statements containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results of MicroStrategy Incorporated and its subsidiaries (collectively, the “Company”) to differ materially from the forward-looking statements. Factors that could contribute to such differences include: the possibility that the conditions to the securities class action and shareholder derivative settlement agreements will not be satisfied; the Company’s ability to secure financing for its current operations and long-term plans on acceptable terms; the ability of the Company to implement and achieve widespread customer acceptance of its MicroStrategy 7 software on a timely basis; adverse reaction by the Company’s employees, investors, customers, vendors and lenders to the restatement of the Company’s financial results or its future prospects; the Company’s ability to recognize deferred revenue through delivery of products or satisfactory performance of services; continued acceptance of the Company’s products in the marketplace; the timing of significant orders; delays in the Company’s ability to develop or ship new products; market acceptance of new products; competitive factors; general economic conditions; currency fluctuations and other risks detailed in the Company’s registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
MicroStrategy, MicroStrategy 7, Scalable Business Intelligence Platform Built for the Internet are either trademarks or registered trademarks of MicroStrategy Incorporated in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.
Marc Brailov
MicroStrategy Incorporated
(703) 770-1670
mbrailov@microstrategy.com
Source: MicroStrategy