Former Chairman, President and CEO George Klaus to Retain Chairman Role
Epicor Software Corporation, a global leader in business software solutions for manufacturing, distribution, retail and services organizations, today announced Silicon Valley technology leader Pervez Qureshi as President and Chief Executive Officer (CEO) of Epicor, effective immediately.
Qureshi brings over 20 years of management experience in the software and technology industry. Since 2006, Qureshi has served as CEO and President of Activant Solutions Inc., which was combined with Epicor following the acquisition of both companies by funds advised by Apax Partners which was completed on May 16, 2011. Qureshi cultivated a “customer for life” culture at Activant that was based on providing outstanding service and support, resulting in industry leading customer retention and satisfaction. Under his management, the company also built a clear leadership position in a number of distribution and retail vertical markets.
“The new Epicor is a true global leader in industry-specific business applications software with over 33,000 customers in more than 150 countries,” said Qureshi. “I am honored to have the opportunity to lead our newly combined company through its next phase of growth, and build on the momentum of market leadership, innovation and a customer-focused culture that is our shared heritage. Above all, I look forward to working with an immensely talented team of over 4,000 employees to deliver even greater value to the customers and markets we serve — from manufacturing, distribution and services, to hardgoods and softgoods retailing.”
Qureshi has an outstanding track record of delivering consistent performance and organic growth, as well as proven acquisition success, having integrated seven companies while with Activant. Throughout his tenure, the company’s growth was underscored with strong profitability. Qureshi served as Activant’s Chief Operating Officer and Executive Vice President since 2004. Prior to joining the Activant, Qureshi was President and Founder of a management consulting company. He has also held senior positions at Harvest Software, Metaphor Computer Systems, Hewlett-Packard and IBM. Qureshi has an MBA from the Darden Graduate School of Business at the University of Virginia and a B.S.E.E degree from the University of Lowell in Massachusetts.
“We are excited about working with Epicor as it enters this next chapter of growth. In particular, we are enthusiastic about our partnership with Pervez, a strong leader who we believe can successfully balance strong growth with profitable operations,” said Jason Wright, a partner at Apax Partners. “Pervez’s deep industry experience combined with his leadership capabilities, make him the right person to serve as the foundation for a strong Epicor management team. We look forward to supporting him as he drives even greater success for Epicor, its customers, and employees worldwide.”
The company also announced the appointment of Kathy Crusco as Executive Vice President and Chief Financial Officer of Epicor. Crusco joined the former Activant in May 2007, and brings over 20 years of experience serving in a variety of financial roles at Documentum Inc., Adaptec and Price Waterhouse LLP. Previously, Crusco served as Vice President of Worldwide Finance for Polycom Inc. She graduated from California State University of Chico with a bachelor’s degree in business with an emphasis in accounting.
“Kathy brings extensive experience in accounting, analytics, and strategic finance as well as a tremendous amount of experience in the technology industry,” said Qureshi. “As a member of the senior executive team, I am confident Kathy will provide the financial leadership and strategic insights needed as we build on the momentum that Epicor has in the market.”
Former Epicor Chairman, President and CEO George Klaus will retain the role of Chairman and continue to play an important part in the company’s strategic development. “As CEO of Epicor since 1996, George has been instrumental in building Epicor into a global provider of end-to-end business software solutions. We look forward to continuing to benefit from the insight, knowledge and perspective that George’s more than 30 years of software technology industry experience will bring to the company and to the board,” said Wright.
This press release contains certain statements which constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve significant risks and uncertainties. All statements that are not historical facts are forward-looking statements, including statements that are preceded by, followed by or that include the words “believes,” “anticipates,” “intends,” “plans,” “expects,” “could,” “should” or similar expressions; statements regarding expected revenues, market share, business model, opportunities, competitive advantage and other statements that are not historical fact; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are based on currently available competitive, financial and economic data together with views and assumptions regarding future events and business performance as of the time the statements are made and are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of risks and uncertainties that are discussed in documents filed with the SEC by Epicor and Activant. Except as required by law, neither Epicor or Activant and their respective affiliates undertake any obligation to revise or update publicly any forward-looking statements.