CALIFORNIA — Peregrine Systems, Inc., a global provider of
consolidated asset and service management software, today announced
the appointment of three independent members to the company's board of
directors, completing its new, five-member board.
Joining Peregrine's board are Richard H. Koppes, of counsel to the law
firm of Jones Day and a former consulting law professor at Stanford
University School of Law; John Mutch, former president and CEO of HNC
Software, Inc.; and Dr. Peter van Cuylenburg, a long-time technology
executive and currently venture partner with Pond Venture Partners. An
interim board made up of Gary Greenfield, Peregrine's CEO, and Thomas
Weatherford, a senior financial executive with more than 30 years of
experience in public and private technology companies, had been
charged with naming the new board members with former bankruptcy judge
Erwin I. Katz serving as a consultant. Greenfield and
Weatherford remain directors of the new board.
"I am delighted to welcome leaders of such distinction in their
respective fields to Peregrine's board," said Greenfield. "The board's
outside directors bring deep technology industry experience, as well
as outstanding reputations in corporate governance. We have an
opportunity to move this company forward, and I believe they will
contribute greatly to Peregrine's future. Creation of the new board
marks another significant milestone for the company as we focus on
operational improvement, strong products and serving our global
customer base."
The new board members collectively bring many years of
experience in business, technology and finance:
-- Richard H. Koppes, whose career spans the last 30 years, is one of
the foremost experts in corporate governance in the United States. In
his legal practice with Jones Day, based in Sacramento, Calif., Koppes
advises clients on corporate governance and shareholder value issues.
In addition to his role with the Executive Education programs at
Stanford University Law School, he also serves as coordinator of
Stanford's Institutional Investors' Forum. He was a principal in the
Sacramento, Calif.-based American Partners Capital Group from 1996 to
1998. Koppes served as the deputy executive officer and general
counsel of the California Public Employees' Retirement System (CalPERS).
In a 10-year career at CalPERS, he became nationally recognized as the
leading expert in the corporate governance and shareholder rights
issues facing many corporations and institutional investors today. He
serves on the boards of Apria Healthcare, ICN Pharmaceuticals and the
Investor Responsibility Research Center (IRRC). Koppes earned a Juris
Doctor degree in 1971 from University of California Los Angeles School
of Law, and earlier a Bachelor of Arts degree in political science
from Loyola Marymount University in Los Angeles in 1968.
-- John Mutch, a technology industry executive for more than 20 years,
joined HNC Software in 1997 as vice president of marketing and
corporate development. He was promoted to president of the insurance
solutions business before becoming president and chief operating
officer in 1999. He was subsequently named president and CEO in
December of that year, a position he held until August 2002 when this
developer of analytic and decision management software merged with
Fair, Isaac and Company. While he was CEO, the company achieved a
compound annual growth rate of 40 percent during a difficult market
period for the technology industry. In 1994, Mutch founded San Diego-
based MVentures Holdings, Inc., a special situation private equity
fund that invested in public and private technology companies, and he
currently serves as general partner. From l986 to 1994, Mutch served
in a variety of executive sales and marketing positions at Microsoft
Corp., a period in which the company grew from $285 million to $5.5
billion in annual sales. Mutch was director of enterprise marketing
when he left Microsoft. Earlier in his career, he worked in management
positions at Prentice Hall and Data Copy. He serves on the board of
Brio Software, Inc. Mutch earned a Master of Business Administration
degree in 1997 from the University of Chicago, and a Bachelor of
Science degree in 1980 from Cornell University in Ithaca, New York.
-- Dr. Peter van Cuylenburg has more than 25 years of senior and
executive management experience with global technology companies, as
well as start-up organizations. He was president and COO of InterTrust
Technologies Corp. before becoming a venture partner with Pond Venture
Partners in 2001. Prior to that, Dr. van Cuylenburg served as
president of Quantum Corporation's DLTtape and Storage Systems Group
from 1996 to 1999. He was executive vice president of operations for
Xerox Corp (1993-1996), and president and COO of Next Computer, Inc.
(1992-1993). Earlier he was named CEO of Mercury Communications and a
main board director for its parent company, Cable & Wireless in the
United Kingdom (1989-1991). Dr. van Cuylenburg began his career at
Texas Instruments, holding a variety of engineering, marketing and
operations positions from 1973 to 1989 in the United Kingdom, France
and the United States. Dr. van Cuylenburg has served on numerous
corporate boards. He is non-executive chairman of four start-up
companies: Transitive Technologies, SealedMedia Ltd., Elixent Ltd. and
Anadigm Ltd. He also serves on the boards of two public companies, QAD
Inc. and JNI Corporation. Dr. van Cuylenburg earned a bachelor's
degree in electrical engineering in 1971 from Bristol Polytechnic in
the United Kingdom. In addition, he received an honorary degree of
doctor of technology from that institution in 1992.
Weatherford, who was named to the board in February, recently retired
as chief financial officer of the business intelligence software
leader, San Jose, Calif.-based Business Objects, having served in that
position since 1997. With long experience in the international
software and financial world, Weatherford held senior financial
positions at NETCOM On-Line Communication Services, Logitech, Texas
Instruments, Schlumberger and Tandem Computers. He currently serves on
the board of two public companies: ILOG and Saba Software, Inc., and a
private technology company: SealedMedia.
Heidrick & Struggles, a leading global executive search firm, was
retained as a consultant to assist Judge Katz and Peregrine's interim
board in the identification and selection of the independent director
candidates in the effort to build a world-class board.
Peregrine had proposed creating the new, five-member board in its plan
of reorganization submitted to the U.S. Bankruptcy Court in Delaware.
The company filed a voluntary Chapter 11 petition with the Delaware
court on Sept. 22, 2002, and its proposed plan of reorganization and
disclosure statement on Jan. 20.
About Peregrine
Founded in 1981, Peregrine Systems develops and sells application
software to help large global organizations manage and protect their
technology resources. With a heritage of innovation and market
leadership in consolidated asset and service management software, the
company's flagship offerings include ServiceCenter(R) and
AssetCenter(R), complemented by Employee Self Service, automation and
integration. Headquartered in San Diego, Calif., Peregrine's solutions
facilitate the automation of business processes, resulting in
increased productivity, reduced costs and accelerated return on
investment for its more than 3,500 customers worldwide.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International, Inc. is the world's premier
provider of executive search and leadership consulting services.
Currently, approximately 1,400 Heidrick & Struggles search
professionals and employees operate from locations primarily in North
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Heidrick & Struggles has specialized in chief executive, board member
and senior-level management search assignments for a broad spectrum of
clients: multi-national corporations, mid-cap and start-up companies,
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associations and governmental units. The company is expanding its
range of complementary services to offer solutions to senior
management teams for their leadership needs, including recruitment of
emerging talent, executive assessment, interim executive placement,
and professional development.
