Verity Announces New Chief Financial Officer Todd K. Yamami Promoted to CFO
SUNNYVALE, Calif. - 2001-04-12 - 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 the promotion of Todd K. Yamami to the position of vice president and chief financial officer. Verity also announced that James E. Ticehurst, vice president, administration and support operations, will be leaving the company.
Yamami, who joined Verity in 1995, most recently served as the company's vice president, corporate controller, and chief accounting officer. As CFO, Yamami will continue to report to Gary J. Sbona, chairman and CEO, and is responsible for managing all of Verity's finance and administration functions.
"Todd has been with Verity for six years and has played an outstanding role in Verity's business and financial successes," said Sbona. "Over the past three years, we have instilled the values of planned, profitable growth throughout the company. Todd has been instrumental in this process, and we are fortunate to have the benefit of his financial leadership."
Yamami joined Verity as accounting manager in June 1995, and was promoted to director of finance and accounting in November 1997. In February 1999, he was appointed to the position of corporate controller, and in August 2000 he was promoted to the position of vice president, corporate controller, and chief accounting officer. Yamami holds a B.S. in Finance and an M.B.A. from Santa Clara University. Prior to joining Verity, Yamami held several senior accounting positions at Telecom Solutions and VLSI Technology, Inc.
Ticehurst joined Verity in 1989 as accounting manager, and has held a number of key positions in the company's finance and administration functions during his tenure.
"Over the past twelve years, Jim has played a very key role at Verity. He recently made the decision to take some well-deserved time off, and, after a period of time, to pursue other interests," said Sbona. "We will miss him as a friend and as a colleague, and we wish him the best in his future endeavors."
About Verity
Verity is a leader in portal infrastructure software. Verity gives businesses a multitude of ways to improve access to vital information, perform a range of e-business operations, while enhancing the end-user experience. Business portals, which include corporate portals used for sharing information within an enterprise, e-commerce portals for online selling and market exchange portals for B2B activities, provide personalized information to employees, partners, customers and suppliers.
Verity products are used by 53 of the Fortune 100 and by more than 1,000 corporations worldwide. The markets Verity serves are comprised of e-businesses, e-commerce merchants, market exchanges, government agencies, online service providers, Internet publishers and software developers. Clients include Adobe Systems, American Greetings, AT&T, BroadVision, CDNOW, Chapters, Cisco, CNET, Compaq, Dow Jones, Edgar Online, Ernst & Young, Fairmarket, Financial Times, Globe and Mail, Home Depot, IBM, Lotus, NewsEdge Corporation, SAP, Siemens, Snap.com, Sybase, Time New Media and Timex.
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.
Channing Barringer
Edelman PR Worldwide
(212) 642-7716
channing.barringer@edelman.com
Winifred Shum
Verity, Inc.
(408) 542-2363
wshum@verity,com
http://www.verity.com
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