SUNNYVALE, Calif - October 16, 2006 - Interwoven, Inc. (Nasdaq: IWOV), provider of Enterprise Content Management (ECM) solutions for business, today announced that its board of directors has named Max Carnecchia to serve as the company's president.
"Since Max was appointed interim president earlier this year, the company has continued to deliver solid performance," said Frank Fanzilli, chairman of the board, Interwoven. "Under Max's leadership the company is successfully executing a focused solutions strategy that's increasing Interwoven's market opportunity and creating further competitive differentiation. Max is passionate about this business, and we look forward to his continued contributions."
Under Carnecchia's leadership the company has:
Posted a 14% increase in total revenues for the first six months of 2006 compared to the same period in 2005, along with a 58% increase in non-GAAP net income. On a GAAP basis, the company posted a profit for the first half of 2006 as opposed to a loss in the first half of 2005.
Continued an aggressive customer acquisition strategy, adding well known brands including Grant Thornton, Priceline.com, British Telecom, Qatar Airways, DLA Piper, and the San Francisco Museum of Modern Art to a customer roster that now includes 3,600 organizations in over three dozen countries.
Introduced a new strategy focused on providing solutions which enable the consistent global delivery of persuasive content across multiple channels to enhance the customer experience. This strategy, developed in conjunction with key Interwoven customers and partners, has already received high marks from third parties such as independent research firm InfoTrends.
Delivered new capabilities for the Professional Services and Financial Services industries.
Strengthened the Company's executive management team.
Max Carnecchia joined Interwoven in 2001. Before being named interim president, he served as senior vice president of worldwide sales for Interwoven. Prior to Interwoven, Carnecchia's experiences included executive management positions in sales, alliances, professional services and support for numerous technology companies including Group 1 Software, IBM, Intel, and Smart DB Corporation.
"It's an honor to be named president of an organization with such a rich heritage and strong culture focused on making a positive impact for our customers," said Max Carnecchia, President, Interwoven. "We have nearly 800 professionals around the world driving terrific results for this business, and I appreciate their dedication and focus."
About Interwoven
Interwoven, Inc. (NASDAQ: IWOV) is a global leader in content management solutions. Interwoven's software and services enable organizations to maximize online business performance and organize, find, and govern business content. Interwoven solutions unlock the value of content by delivering the right content to the right person in the right context at the right time. Over 4,700 of the world's leading companies, professional services firms, and governments have chosen Interwoven, including Airbus, Amnesty International USA, Avaya, BT, Cisco, Citi, Delta Air Lines, DLA Piper, FedEx, Grant Thornton, Hilton Hotels, HKMP LLP, Hong Kong Trade and Development Council, HSBC, LexisNexis, MasterCard, Microsoft, Samsung, Shell, Sky Italia, Qantas Airways, Tesco, Virgin Mobile, and White & Case. A community of over 25,000 developers and over 300 partners enrich and extend Interwoven's offerings. To learn more about Interwoven, please visit www.interwoven.com.
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