(00000020) DELIVERED BY PRIMEZONE MEDIA NETWORK 800-307-6627
KEYWORDS: ECOMMERCE, MANAGEMENT CHANGES
PurchasePro Names Richard L. Clemmer
Chief Executive Officer
LAS VEGAS, June 5, 2001 (PRIMEZONE) -- (WITH PHOTO) The board of
directors of PurchasePro(r) (Nasdaq:PPRO) today appointed Richard L.
Clemmer chief executive officer, succeeding Charles E. Johnson, Jr. who
last month resigned his position as chairman of the board and left the
company. Mr. Clemmer, 49, joined PurchasePro in May as chief financial
Mr. Clemmer, who will now serve as chief executive officer and acting
chief financial officer, said, "Over the past few months I have
examined the business of PurchasePro in preparation for my tenure as
chief financial officer. For the past two weeks I have been fully
immersed in the operations and challenges of PurchasePro, both as chief
financial officer and vice chairman of the board.
"It is eminently true that PurchasePro suffers from a credibility gap.
We now have a communications program in place to close that gap. This
is the dawning of a new era at PurchasePro; a new watch, and these
challenges will be overcome and resolved with due, but deliberate
dispatch. We have a strong and experienced management team in place to
move the company forward; and a dedicated employee base to support our
growing momentum. We have all the resources to achieve our primary
objective of building great software that gives companies of all sizes
universal access to the world's largest commerce network."
"To this end," Mr. Clemmer said, "we continue to receive extremely
positive feedback from our customers about our solutions and the power
of our products and our network. We are currently refining our business
strategy to support our strong product strategy. I expect to announce
new initiatives and a new approach during the coming weeks."
Mr. Clemmer also said that, "While I will continue in the role of
acting chief financial officer, a search for a new CFO will be
instituted shortly and we intend to fill that position as soon as the
right person is found."
Mr. Clemmer brings broad high technology experience to PurchasePro,
having managed more than $2 billion in mergers, acquisitions and joint
ventures at Quantum, the world's largest supplier of tape automation
systems and a leader in data protection.
Prior to joining Quantum, Mr. Clemmer was senior vice president and
chief financial officer of Texas Instruments' $8 billion Semiconductor
Group. While at Texas Instruments, Clemmer spearheaded the company's
joint ventures with Hewlett-Packard, Hitachi, Canon, Acer Computer,
Kobe Steel and the Singapore government.
Mr. Clemmer holds a bachelor's degree in business administration from
Texas Tech University and a master's in business administration from
Southern Methodist University in Dallas.
PurchasePro(r), www.purchasepro.com, a leader in business-to-business
e-commerce, operates the PurchasePro global marketplace, encompassing
more than 155,000 businesses and powering hundreds of private-label
marketplaces. PurchasePro provides the following business-to-business
e-commerce solutions: e-Procurement for corporate procurement,
v-Distributor for online distributors, e-MarketMaker for Internet
market makers and e-Source for strategic sourcing.
This news release may include forward-looking statements, which are
subject to the "Safe Harbor" created by Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements involve certain
risks and uncertainties that can cause actual results to differ
materially from those in the forward-looking statements. These
forward-looking statements represent only the views of certain members
of management and are based on limited information available to us now,
which is subject to change. We have no current plan to update these
statements. Actual results may differ substantially from what we say
today and no one should assume at a later date that the forward-looking
statements provided herein are still valid. They speak only as of
For more information about these risks and uncertainties, see the SEC
filings of PurchasePro Inc., including the section titled "Factors That
May Affect Results" in its 10-K filing for the period ended December
31, 2000, and its 10-Q for the quarter ended March 31, 2001, which are
available from the company on request and on the Internet at the SEC's
Note: PurchasePro is a servicemark of PurchasePro.com Inc. All other
trademarks or registered trademarks are the property of their
PHOTO NOTE: This photo is available at
CONTACT: PurchasePro, Inc.
Steven D. Stern, Vice President Corporate Communications
Matthew Brimhall, Manager of Marketing and Public Relations
Provider ID: 00000020
-0- Jun/05/2001 6:00 GMT
Press spacebar to pause and continue. Press esc to stop.