Herzlia, Israel – December 7th, 2012 – BluePhoenix (NASDAQ: MDSY), the leading provider of tools and services for modernizing legacy systems and applications, announced Tom Jurewicz as a new member of the Board of Directors, effective immediately. “Tom helped run finance for VMware for 12 years. His operational expertise in helping them grow from a small startup to a huge corporation will help us be a better company”, said Matt Bell, President & CEO. Thomas J. Jurewicz is a highly respected financial expert in the technology industry. He spent 12 years at VMware, Inc. (NYSE: VMW) where he held various financial positions including Treasurer, interim CFO, Board Member of its subsidiaries, and EMEA Controller. He was integral to the sale of the company to EMC Corp (NYSE: EMC) and its subsequent IPO. Prior to that, Mr. Jurewicz served in finance roles for CMC Industries, Inc. (NASDAQ: CMCI), and NETCOM, On-Line Communications (NASDAQ: NETC). Early in his career, he was an investment banker for Merrill Lynch & Co (NYSE: ML). Mr. Jurewicz holds an MBA from Stanford University, and a BS in Applied Mathematics from Yale University.
“I’m very excited to be involved in BluePhoenix and the turnaround that is underway”, said Tom Jurewicz. He went on to say, “This company has significantly improved the balance sheet and I expect to have many discussions in the near future about how to prepare the company for responsible growth.”
“We are honored to have experts like Tom join our board over the last 6 months. The company has changed dramatically in a very short period of time and I look forward to working with Tom and all the other new board members to grow this company in a smart and thoughtful manner”, said Bell.
About BluePhoenix Solutions
BluePhoenix (NASDAQ: MDSY) is the leading provider of legacy language and database translation. The BluePhoenix portfolio includes a comprehensive suite of tools and services for automated database and application migration. Leveraging over 20 years of best-practice domain expertise, BluePhoenix works closely with its customers to minimize risk and provide a clear path from legacy platforms like COBOL, Natural/Adabas and others to modern solutions like SQL, DB2, Java, and more. BluePhoenix customers come from diverse industries and vertical markets such as automotive, banking and financial services, insurance, manufacturing, and retail. BluePhoenix has offices in the USA, UK, Italy, Romania, and Israel.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this release may be deemed forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other Federal Securities laws. You can identify these and other forward-looking statements by the use of words such as “may,” “will,” “plans,” “believes,” “estimates,” “expects,” “predicts”, “intends,” the negative of such terms, or other comparable terminology. Because such statements deal with future events, plans, projections, or future performance of the Company, they are subject to various risks and uncertainties that could cause actual results to differ materially from the Company’s current expectations. These risks and uncertainties include but are not limited to: the effects of the global economic and financial trends; market demand for the Company’s products; successful implementation of the Company’s products; changes in the competitive landscape, including new competitors or the impact of competitive pricing and products; and such other risks and uncertainties as identified in BluePhoenix’ most recent Annual Report on Form 10-K and other reports filed by it with the SEC. Except as otherwise required by law, BluePhoenix undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. This press release is also available at https://modernsystems.com. All names and trademarks are their owners’ property.