Princeton Softech, a subsidiary of Computer Horizons Corp. (NASDAQ: CHRZ) that provides enabling software for developing and deploying high-performance eBusiness solutions, has named Louis J. Desiderio as its new chief financial officer. Desiderio, a senior finance executive with over 16 years of experience with high growth technology companies, assumes his new role effective immediately. As CFO, Desiderio will be responsible for all aspects of Princeton Softech's financial operations including financial planning; accounting; taxation; banking and legal relationships; contract negotiations with clients, vendors and business partners; and human resources.
In the CFO capacity, Desiderio becomes a key member of the executive team that will lead Princeton Softech's expanding presence in both the domestic and international markets, by:
- Providing insightful financial and operational leadership in setting and executing business strategies;
- Ensuring focus, discipline and structure for decision support and analysis throughout the organisation;
- Creating operational efficiencies, standardisation and best practice application in all financial and administrative operations;
- Participating with management in effectively communicating the firm's core strengths and competitive advantages, building confidence in Princeton Softech's ability to execute and its long-term sustainable growth and profit opportunities.
"Lou's extensive knowledge and experience with high growth technology companies makes him an invaluable member of the Princeton Softech team as we enter this next critical phase in our growth," said Lisa Cash, president, Princeton Softech. "Lou is a seasoned leader who brings a rich background in developing and executing business strategies to capitalise on emerging markets in the new economy. His dynamic and proactive leadership, combined with his IPO and M&A experience, add tremendous depth to Princeton Softech's senior management team."
"I look forward to building a global finance and operations infrastructure, and working closely with such a talented executive team to develop strategies for business growth, financial management, and return on investment," states Lou Desiderio, CFO, Princeton Softech. "My primary goals will be to ensure that the company is well-funded, and that we build a strong asset position to support internal growth as well as acquisitions."
Desiderio's experience stretches into all aspects of finance, accounting, human resource management, strategic planning and business development, including pre-IPO startup funding and mergers and acquisitions. Prior to joining Princeton Softech, Desiderio served as senior vice president corporate development and chief financial officer for KSM Associates, Inc., a technology services company. As a key member of the executive management team, Desiderio had full responsibility for financial operations, directing KSM's corporate positioning, product and service marketing, market expansion, strategic alliance activities, and positioning the company for an initial public offering.
Before KSM, Desiderio was vice president and chief financial officer for Innovative Tech Systems, Inc., a publicly traded facilities management software company, where he positioned the company to go public and secured a private placement prior to the IPO. Desiderio directed the IPO process including selection of investment bankers, coordination of the IPO team, and presentations to potential investors.
He was also responsible for negotiating, structuring and integrating two company acquisitions.
Desiderio also served as controller of the $250 million custom underwriting division for Reliance Insurance Company. He began his career with the emerging business services group of Coopers & Lybrand LLP, where he assisted clients with raising capital in both the public and private markets. A licensed CPA, Desiderio has a bachelor’s degree from Rider University. He is active in his community, having served in leadership roles in the Pennsylvania Institute of CPAs and on several community boards. He is also a member of the Board of Advisors for Tachyon Technology Corporation.
For additional information please contact:
Princeton Softech, Inc.
Tel: +1 609 688 5000
VP Northern Europe
Princeton Softech, Inc.
Tel: +44 1242 229 700
Mary Brain/Catherine Eyres
Tel: +44 1494 434 434
About Princeton Softech
Princeton Softech (http://www.princetonsoftech.com), a wholly-owned subsidiary of Computer Horizons Corp., is a software products and services company that delivers leveraging technologies for enterprise-scale eBusiness solutions. Princeton Softech's component-based development tools enable customers to synchronise IT and business objectives while moving at eSpeed through the application lifecycle. The company’s eData distribution and management technologies allow organisations to optimise data availability and deploy application data to the point of best business leverage. Over 2,000 of the world's largest companies in more than 30 countries use Princeton Softech's products and services.
Computer Horizons Corp (CHC) (NASDAQ: CHRZ), a strategic e-Business solutions and professional services company that is powering a new breed of rapid growth Internet developers. For more than 30 years, CHC has been a global leader assisting companies in systems integration, migration, and innovation by staying ahead of the technological curve. For more information on Computer Horizons Corp., please visit our Web site at http://www.computerhorizons.com
This press release includes certain "forward-looking statements" for purposes of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties that could cause actual results to differ materially. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of Computer Horizons' industry and competition.
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