 |
|
|
|
| Press Release |
|
|
|
Novell Announces Appointment of Dennis Raney as Senior Vice President and Chief Financial Officer PROVO, Utah — June 2, 1998 — Novell, Inc., (NASDAQ: NOVL) today announced the appointment of Dennis R. Raney as Senior Vice President and Chief Financial Officer, reporting to Novell chairman and CEO Dr. Eric Schmidt. Raney has responsibility for finance, corporate facilities and information systems worldwide. "Dennis Raney brings the knowledge and experience to apply strong financial controls and systems necessary in a well managed, growing, billion dollar global business, " said Schmidt. "He offers exceptional insight into the systems and processes needed to continue the improvement underway in every aspect of Novell's business. He makes another great addition to Novell's new executive team." Raney has held CFO positions at General Magic, California Microwave and most recently QAD Inc. Prior to this, Raney, who is 55, spent 23 years at Hewlett-Packard in finance, international and real estate assignments responsible for financial management of multi-billion dollar segments of Hewlett-Packard's business. After leaving H-P he served as senior vice president and CFO at Bristol-Myers Squibb Pharmaceutical Group, with annual revenue of $7 billion. "There is a tremendous opportunity to align Novell's business with benchmarks for financial performance that define value in leading companies across our industry," said Raney. "With the discipline of expense controls and benefit of growing revenue, Novell will be capable of delivering the earnings performance and business value that our shareholders expect." Raney first joined Novell as interim CFO in March, 1998. 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, education, and support for distributed network, Internet, and small-business markets. Information about Novell's complete range of products and services can be accessed on the World Wide Web at http://www.novell.com.
Novell Contacts:
Jonathan Cohen
|
|
|
