Rainmaker Systems Names Brad Peppard as Executive Vice President and Chief
Additional Changes to the Board Announced as CEO Don Massaro Becomes
Chairman and Eric Salzman Joins as Independent Director
CAMPBELL, CA -- (Marketwired) -- 10/07/13 -- Rainmaker Systems, Inc.
(OTCQX: RMKR), a provider of B2B e-Commerce solutions and services,
today announced the appointment of Brad Peppard as executive vice
president and chief financial officer (CFO). As the former chairman
of the Board of Directors (Board), and head of the Company's audit
committee for the last several years, Peppard is uniquely positioned
to provide a broad range of financial expertise and strategic insight
to accelerate Rainmaker Systems' evolution into a thriving B2B
e-commerce solutions provider.
Peppard brings a proven track record of driving profitability and
growth for numerous companies, including holding various senior-level
finance and treasury positions at leading companies such as Trader
Joe's, CBS/Fox Studios, and Survey.com. In addition, Peppard has
extensive experience developing and launching real-time accounting
platforms, having led the team responsible for one of the first
multi-platform microcomputer tax preparation programs, Tax Advantage.
His long tenure with Rainmaker Systems, and his understanding of the
B2B e-commerce marketplace, positions him well to guide the company
during its next phase of accelerated growth.
In conjunction with Peppard's appointment to the position of CFO, CEO
Don Massaro was appointed chairman of the Board, a role that he has
held at other organizations. As a founder and CEO of six Silicon
Valley technology companies, Massaro has considerable experience
managing overall business operations and driving company strategies.
Furthermore, Eric Salzman, who recently served as a Board advisor,
has been elected to Rainmaker Systems' Board to replace Gary Briggs,
who resigned his post due to increased time commitments as the new
chief marketing officer at Facebook. Eric brings nearly twenty years
of finance and investment experience, including extensive board
experience with several technology related companies. He currently
serves on the Boards of 8x8, Inc., Coloredge, Inc. and SynCardia
Systems, Inc. and is affiliated with Monarch Capital Group, LLC.
"I have had the opportunity to work very closely with Brad over the
last nine months, and we share a common view of the market
opportunity and growth potential for Rainmaker Systems," said Don
Massaro. "Brad's significant experience in driving financial growth
for a variety of multi-billion dollar companies, coupled with his
deep understanding of technology and services, make him an excellent
choice for our new CFO as we address demand in our services business
and work to drive growth in our product sales. We are also excited to
have Eric join as a Board member where he will continue to provide
solid guidance on our future growth strategies. I would also like to
thank Mallorie Burak for leading the transition of the finance
function from our Austin facility to our Campbell headquarters, and
for further enhancing our financial processes and controls."
About Rainmaker Systems, Inc.
Rainmaker Systems is a B2B e-Commerce
company that helps organizations of all sizes, ranging from Fortune
500 enterprises to small-to-medium-sized businesses, create new
revenue streams from segments of their customer base that extend
beyond traditional sales team capabilities. With its unique approach,
Rainmaker Systems delivers proprietary cloud-based e-Commerce
technology, global and localized sales-assist agents, and
best-practice sales and marketing expertise, allowing customers to
discover and monetize untapped revenue opportunities.
Rainmaker trades in the U.S. on OTCQX under the symbol "RMKR."
Safe Harbor Statement
This press release may contain forward-looking
statements regarding future events. These forward-looking statements
are based on information available to Rainmaker as of this date and
the Company assumes no obligation to update any such forward-looking
statements. These statements are not guarantees of future
performance, and actual results could differ materially from current
expectations. Among the factors that could cause actual results to
differ materially from those in the forward-looking statements are
client concentration, as the company depends on a small number of
clients for a significant percentage of its revenue; the possibility
of the discontinuation and/or realignment of some client
relationships; general market conditions, the current difficult
macro-economic environment and its impact on Rainmaker's business, as
clients are reducing their overall marketing spending and their
customers are reducing their purchase of service contracts; market
acceptance of our service programs and pricing options; the financial
condition of our clients' businesses and other factors detailed the
company's filings with the Securities and Exchange Commission (SEC),
including our filings on forms 10-K and 10-Q.
Investor Relations Contact:
Director of Investor Relations
McGrath/Power Public Relations
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