Wave Board of Directors Appoints William Solms as Acting CEO
LEE, MA -- (Marketwired) -- 10/08/13 -- Wave Systems Corp. (NASDAQ:
WAVX) announced today that William Solms, Vice President of North
American Sales, has been appointed by the Board of Directors as
Acting CEO, replacing Steven Sprague.
Mr. Solms will be responsible for ensuring a smooth transition and
leading Wave's executive team. A graduate of West Point, Mr. Solms
served a distinguished career as an active duty Army officer, capping
his 20+ year military career in the Pentagon as a member of the Joint
Staff. After his military service, Bill joined Microsoft as a sales
executive, directed the Federal Sales Team for Oracle-on-Demand at
Oracle, and held executive positions in Business Development and
Sales at A-T Solutions and Intellidyne, LLC.
"On behalf of the entire board, I want to thank Steven for his
service to the company and for the passion, dedication and commitment
he brought to Wave as CEO each day," said John Bagalay, Wave's
Chairman of the Board. "The Board sees a tremendous opportunity for
growth going forward and we have full confidence in Bill's ability to
lead a very talented and innovative team in translating Wave's
product vision into a commercial reality."
Mr. Sprague has indicated that he will continue to serve Wave as a
member of its Board of Directors, stating "I look forward to helping
the Board and Bill with the transition."
The Board will alter its previously announced search for a Chief
Operating Officer into a search for a permanent CEO.
About Wave Systems
Wave Systems Corp. (NASDAQ: WAVX) reduces the
complexity, cost and uncertainty of data protection by starting
inside the device. Unlike other vendors who try to secure information
by adding layers of software for security, Wave leverages the
security capabilities built directly into endpoint computing
platforms themselves. Wave has been a foremost expert on this growing
trend, leading the way with first-to-market solutions and helping
shape standards through its work as a board member for the Trusted
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Wave Systems Corp.
David Collins, Eric Lentini
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