Verity Appoints Karl C. Powell to Board of Directors
SUNNYVALE, Calif. - 2000-08-14 - Verity, Inc. (Nasdaq: VRTY), a leading provider of infrastructure software that powers enterprise and e-commerce portals as well as e-business applications, today announced that Karl C. (Casey) Powell has joined Verity's board of directors, bringing the total number of board members to six.
Casey Powell, Verity's newest board member, is president and CEO of N H M & P, Inc, a newly-formed Oregon corporation engaged in the development of software management tools. Powell, a co-founder of Sequent Computer Systems, Inc, was formerly chairman of the board and chief executive officer, and a director of that company from 1983 until 1999, when it was acquired by IBM. Powell served as Sequent's CEO since the company's inception. From 1974 to 1983, he was employed by Intel Corporation, where his most recent position had been general manager for Microprocessor Operations. Powell also served on the National Board of Directors of the American Electronics Association from 1985 to 1986. He holds a Bachelor of Science Degree in mechanical engineering from the U.S. Merchant Marine Academy at Kings Point, NY.
"With Casey's wealth of knowledge in business, technology, and entrepreneurial ventures, we're delighted to have him on our board and benefit from his ongoing counsel," said Gary J. Sbona, chairman and CEO of Verity. "His career accomplishments are outstanding and we are pleased to add him to the Verity team."
According to Powell, "I've been watching Verity for a number of years now. They are clearly a leader in the portal infrastructure environment and well-positioned to continue with their success. In addition, my personal relationships with Verity's executive staff made it an easy decision to participate as a board member."
About Verity
Verity is a leader in infrastructure software that powers corporate portals used for sharing information within an enterprise, e-commerce portals for online selling and market exchange portals for B2B activities. Business portals provide personalized information to employees, partners, customers and suppliers.
Verity products are used by 48 of the Fortune 100 and by more than 1,000 corporations worldwide. The markets Verity serves are comprised of e-commerce merchants, e-businesses, market exchanges, government agencies, online service providers, Internet publishers and software developers. Verity customers include Adobe Systems, American Greetings, AT&T, Broadvision, CDNOW, Chapters, CNET, Cisco, Compaq, Dow Jones, Edgar Online, Ernst & Young, Fairmarket, Financial Times, Globe and Mail, Home Depot, IBM, NewsEdge Corporation, Lotus, SAP, Siemens, Snap.com, Sybase, Time New Media, and Timex.
This press release contains forward-looking statements relating to management's efforts to achieve improved operations and results. Actual results are subject to risks and uncertainties. Risks relating to Verity and its products are set forth in its Form 10-K and other reports filed with the Securities and Exchange Commission.
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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