Former PeopleSoft CFO Brings Over 20 Years of Management Experience to the Virage Board of Directors
SAN MATEO, Calif - March 6, 2001 - Virage, Inc. [NASDAQ: VRGE], a leading provider of software and services that enable video for strategic online applications, today announced that Ron Codd has joined the Virage Board of Directors. Mr. Codd brings to Virage over 20 years of relevant management experience gained by working for rapidly growing high technology companies.
Mr. Codd is currently president and CEO of Momentum Business Applications, Inc., a company engaged in application software product development activities. Prior to his appointment at Momentum, Mr. Codd served as CFO and senior vice president of finance and administration at PeopleSoft, Inc. During his eight year tenure, he held responsibility for a variety of functions including finance, human resources, information systems, legal, facilities and other operational and administrative areas.
Prior to PeopleSoft, Mr. Codd held management positions at MIPS Computer Systems, Wyse Technology, Tandem Computers and Arthur Young (now Ernst & Young). As an executive and a board member, Mr. Codd has guided several companies through their pre-IPO and post-IPO phases while consistently expanding each entity's revenue growth by millions of dollars. Mr. Codd also currently serves on the Board of Directors for the following companies: Interwoven, Inc., Adept Technology, The Learning Trust, and Intraware, Inc.
"Virage is revolutionizing the way organizations produce and deliver video content, and their broad base of satisfied customers is a testament to both the size of the market opportunity and the value of their software and services," said Mr. Codd. "As software, media and communications technologies continue to evolve and converge, Virage will play an increasingly important role in providing solutions that take maximum advantage of this paradigm. I am very pleased to participate with Virage's intelligent, world-class management team who have consistently demonstrated a dedication to integrity as they create the infrastructure for the next generation of digital content."
"Ron is a proven leader and advisor for successful, fast-growing high-tech companies," said Paul Lego, president and CEO of Virage. "We are very proud that Ron has elected to join the Virage Board. He brings a wealth of financial expertise and general business experience that will be a tremendous asset to Virage as we continue to execute our growth strategies."
About Virage, Inc.
Headquartered in San Mateo, California, Virage is the leading provider of solutions that enable video for strategic online applications. The Virage Video Application Platform transforms video into an effective online medium that is easy to publish, manage and distribute on the Internet or corporate intranets. The Virage platform provides content owners with the complete infrastructure for seamlessly integrating streaming video into business, entertainment and information applications. From ABC to Yahoo! over 200 customers across a broad range of markets have turned to Virage to help them improve production efficiencies and create new revenue opportunities with video. Contact Virage at (650) 573-3210.
This press release contains "forward looking" statements about the products and services of Virage as that term is used in Section 21E of the Securities Exchange Act of 1934. Forward looking statements are denoted by such words as "will serve", "will be" and similar terms and phrases. These types of statements address matters that are subject to risks and uncertainties which could cause actual results to differ materially. In addition, our forward-looking statements should be considered in the context of other risk factors discussed in our filings with the Securities and Exchange Commission, including our Registration Statement on Form S-1, as amended, available online at www.sec.gov. All forward-looking statements are based on information available to the company on the date hereof, and the company assumes no obligation to update such statements.
Virage, VideoLogger and the Virage logo are registered trademarks and, Virage Application Server and SmartEncode are trademarks of Virage, Inc. Other company product and service names may be trademarks or service marks of others, and are hereby acknowledged.
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