SciQuest Board of Directors Names Stephen Wiehe as Chairman
Board also appoints Tim Buckley as lead independent director
CARY, N.C. -- May 23, 2013
SciQuest (NASDAQ: SQI), a leading provider of cloud-based business automation
solutions for spend management, today announced that Stephen Wiehe has been
elected chairman of the board of directors. Tim Buckley, the former COO of Red
Hat (NYSE: RHT), was also appointed as lead independent director.
Thesechanges result fromNoel Fenton, the former independent chairman of the
board, not standing for reelection in 2013. Fenton brought a wealth of
knowledge and experience to the SciQuest board during his 13 years of service.
He was also integral in recruiting Wiehe to join as president and CEO in 2001.
Wiehe has served as president and CEO of SciQuest since 2001 and has overseen
31 consecutive quarters of revenue growth. Wiehe transformed SciQuest from an
e-market exchange to the largest public, pure-play provider of spend
management software. Under his stewardship, SciQuest has evolved into the
preeminent provider of cloud-based business automation solutions that help
customers turn spending into savings. By overseeing the transition to a
private company in 2004 and leading a successful initial public offering in
2010, Wiehe has instilled a deep sense of fiscal responsibility company-wide.
Wiehe will also continue to serve as the company’s president and CEO.
“Steve, with Noel’s support and guidance, has been the chief architect of
SciQuest’s profitable growth for the past decade,” said Tim Buckley. “The
Board believes that Steve’s open-minded approach and desire to achieve
consensus will serve shareholders well over the coming years. I look forward
to working diligently in my expanded role as the lead independent board member
to continue the company’s history of enhancing shareholder value by ensuring
that the Board considers external perspectives, thoughts and ideas.”
With a reputation for deep domain knowledge, a solid customer-driven
portfolio, and industry-leading customer satisfaction, SciQuest (NASDAQ: SQI)
is the largest public provider of cloud-based business automation solutions
for spend management that turn spending into savings. SciQuest solutions
enable greater visibility and compliance organization-wide to help you gain
control, optimize efficiencies, and reduce spend. These cloud-based solutions
are easier to implement and proven to deliver measurable, sustainable value
with SciQuest’s high-touch support, analysis and automation.
To join the conversation, please visit our blog, The Open Kitchen – or follow
us on Twitter @SciQuest.
Cautionary Note Regarding Forward-Looking Statements
Any statements in this release that are not historical or current facts are
forward-looking statements. All forward-looking statements in this release are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and other
factors that may cause our actual results, performance or achievements to be
materially different from any future results, performances or achievements
expressed or implied by the forward-looking statements. Certain of these risks
and uncertainties are described in the “Risk Factors” section of our most
recent Annual Report on Form 10-K and other required reports, as filed with
the SEC, which are available free of charge on the SEC’s website at
http://www.sec.gov or on our website at www.sciquest.com. Given these risks
and uncertainties, investors should not place undue reliance on
forward-looking statements as a prediction of actual results. These
forward-looking statements speak only as of the date hereof, and we undertake
no obligation to update, amend or clarify any forward-looking statement for
SciQuest Media contact:
Michelle Perkins, 919-659-2228
fama PR for SciQuest
Dan Gaffney, 617-986-5036
SciQuest Investor contact:
Jamie Andelman, 919-659-2322
Press spacebar to pause and continue. Press esc to stop.