News
FOR IMMEDIATE RELEASE
Adaptive Planning Appoints William A. Soward CEO as Company Continues to Rapidly Grow Customer Base
Mountain View, Calif., — January 10, 2006 — Adaptive Planning, Inc., the leading provider of on-demand budgeting, forecasting and reporting applications, today announced it has named William A. Soward as chief executive officer. Soward brings 25 years of experience in management at technology companies and in operational finance roles. Most recently, Soward was general manager of FRS, a business unit of S1 Corporation providing financial institutions worldwide with enterprise risk and regulatory compliance solutions.
With the addition of Soward to the management team, founding CEO Robert Hull transitions to the position of chief financial officer and vice president, professional services and support. He will be responsible for Adaptive Planning's financial management, as well as for providing the company's customers with implementation services, training and support.
"As the Business Performance Management landscape continues to evolve, on-demand software solutions present an attractive option for finance departments that struggle with the challenges of spreadsheet-based budgeting, forecasting, and reporting," said Soward. "It's an exciting time to join Adaptive Planning as the company enters into a stage of accelerated growth."
At S1, Soward transformed FRS into S1's most successful business unit, more than doubling revenues while building profitable and sustainable customer relationships with global financial institutions. Additionally, as a member of S1's executive team, Soward spearheaded the build-out of S1's European operations and served as interim CEO of S1 Europe as well as S1's Edify business unit. He also held a variety of management roles at Edify Corporation prior to its acquisition by S1, and played an instrumental role in that company's acquisition by S1. Earlier in his career, Soward worked for such companies as ROLM/Siemens A. G. and IBM Corporation.
"Bill Soward will be a tremendous addition to the Adaptive Planning team as we continue to expand our offerings, enlarge our customer base and grow the company. We're very excited to have him on board," said Robert Hull.
"Bill's demonstrated track record of building profitable companies and his passion for developing solutions that create value for customers made him the perfect candidate to take Adaptive Planning to the next level in its continued growth," said Ken Ross, Adaptive Planning board member and former president and CEO of Pillar Corporation.
About Adaptive Planning
Adaptive Planning is the leading provider of on-demand budgeting, forecasting, reporting and analytics applications. Adaptive Planning makes it easy for mid-size companies and departments of larger corporations to move beyond spreadsheets to a full-featured planning solution for 1/5 the cost of traditional enterprise planning applications. Delivered as a service over the web, Adaptive Planning includes world class hosting, support, and application upgrades for a low monthly subscription fee. Adaptive Planning is headquartered in Mountain View, California and can be reached at 650-528-7500 or www.adaptiveplanning.com.
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