Novell Senior Vice President and Chief Financial Officer, James R. Tolonen Resigns; Dennis
R. Raney to Serve as Interim CFO
PROVO, UT March 12, 1998 Novell, Inc., (NASDAQ:NOVL) today
announced
that James R. Tolonen has resigned as senior vice president and chief financial officer. The
company also
announced that Dennis R. Raney has joined the company as interim chief financial officer, with
responsibility for all financial activities, corporate facilities worldwide and information systems.
The
appointment is effective immediately. To help ensure a smooth transition, Tolonen will remain
with Novell
through the end of the company's second fiscal quarter on April 30, 1998.
"During his nearly 15 years of service, Jim has made significant contributions to Novell," said Dr.
Eric
Schmidt, chairman and chief executive officer of Novell. "He has been instrumental in building
Novell's
business. We wish him the very best." Tolonen plans to take time off before deciding on his next
career
move.
"I've asked Dennis to step in as interim CFO while we continue to actively recruit a chief
operating officer,"
said Schmidt. Raney has held CFO positions at General Magic, California Microwave and most
recently
QAD Inc. Prior to this, Raney, who is 55, spent 24 years at Hewlett-Packard in finance,
international and
real estate assignments. He also held the CFO position at Bristol Myers Squibb-pharmaceutical.
"I'm
confident that Dennis will ensure consistency in our financial management and help advance the
company's
overall efforts in the Internet industry."
About Novell, Inc.
Founded in 1983, Novell (NASDAQ:NOVL) is the world's leading provider of network software.
The
company offers a wide range of network solutions for distributed network, Internet/intranet and
small-
business markets, as well as the network computing industry's most comprehensive education and
technical
support programs. Information about Novell and its complete range of products and services can
be
accessed on the World Wide Web at http://www.novell.com.
Novell Contact:
Peter Troop
Novell, Inc.
Phone: (408) 577-8975
Internet: peter_troop@novell.com