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FOR IMMEDIATE RELEASE
Contact: Didi Blackwood Nate Wallace
Corporate Communications Investor Relations
[email protected] [email protected]
301-255-3143 301-984-5059
MANUGISTICS ANNOUNCES FOUNDER
WILLIAM M. GIBSON TO RETIRE AS CHAIRMAN
GREGORY J. OWENS NAMED SUCCESSOR
ROCKVILLE, MD. - NOVEMBER 21, 2000 - Manugistics Group, Inc. (Nasdaq: MANU), a
leading global provider of intelligent supply chain and eBusiness solutions
for enterprises and marketplaces, announced today that company founder William
M. Gibson, chairman of the board of directors, plans to retire at the end of
the company's fiscal year February 28, 2001.
With the recommendation of Gibson, the board has named Gregory J. Owens
chairman designate, to succeed Gibson upon his retirement. Owens is currently
chief executive officer and president. Gibson will remain chairman of
Manugistics until his retirement from the company's board.
"I feel the time is right for me to relinquish the reins," said Gibson. "It
has become increasingly obvious to me that we are meeting and surpassing all
the goals we had in mind when we took the company public in 1993. Manugistics
is seen as a leader in supply chain optimization and B2B eInfrastructure, and
now, with the acquisition of Talus Solutions, as the leader in pricing and
revenue optimization. We are showing strong revenue growth with solid
financial performance and stability. And we have recruited and empowered the
next generation of management necessary to expand on these successes."
"When I recruited Greg to Manugistics, I felt strongly that he had the skills
necessary to reinvigorate and lead our organization," Gibson continued. "Greg
has clearly rewarded my confidence. We have had a very fruitful partnership
over the past two years and I value his leadership and management
capabilities. I leave confident that the company is in highly capable hands."
William G. Nelson, a senior director of the board, expressed the sentiments of
his fellow board members. "We're all grateful for Bill's leadership throughout
the company's history. He brought a number of the current directors to the
board and we have enjoyed
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working with him as he defined the market and built a great company in pursuit
of that vision. We respect his desire after 18 years with Manugistics to
channel his energies in a different direction. His imprint on the values,
culture and people of Manugistics will be long appreciated."
Greg Owens said, "I highly value the support and counsel I have received from
Bill Gibson during the company's very successful transition. Manugistics owes
a debt of gratitude to Bill for not only founding the company, but also for
his foresight in reinventing the way companies approach supply chain
management through optimization software. Gibson's vision in redirecting
Manugistics' strategic focus, as the leading provider of solutions for supply
chain optimization, was the solid technical foundation that helped architect
the company's turnaround. Our company, its shareholders, employees and
customers have all benefited from his leadership. I look forward to building
on the legacy of excellence left by Bill Gibson."
Mr. Gibson has served as chairman of the board of Manugistics since its
formation in 1986. From 1986 until April 1999, Mr. Gibson also served as
chief executive officer of the company. From 1983 until 1986, when it was
purchased by the company, Mr. Gibson served as chief executive officer,
president, and chairman of the board of STSC, Inc. (now Manugistics Group,
Inc.). He joined STSC, Inc. as executive vice president and chief operating
officer in 1982.
Prior to joining Manugistics in 1999, Owens, 40, was the former global
managing partner for the Andersen Consulting Supply Chain Management Practice
for ten years. Prior to joining Andersen Consulting, Owens worked for Garr
Consulting, specializing in distribution, transportation, and warehousing
consulting. He was promoted to the role of executive vice president at the age
of 29. Owens graduated from the Georgia Institute of Technology in 1982, where
he earned a bachelor's of science degree in industrial management.
ABOUT MANUGISTICS GROUP, INC.
Headquartered in Rockville, Md., Manugistics Group, Inc. is a leading global
provider of intelligent supply chain and eBusiness solutions for enterprises
and evolving trading networks. With more than 900 clients, Manugistics powers
intelligent decisions for profitable growth in leading companies such as 3Com,
Amazon.com, BP, Brown and Williamson, Cisco Systems, Coca-Cola Bottling,
Commerx, Compaq, DuPont, FreightWise, General Electric, Harley-Davidson,
Hormel, Nestle, Texas Instruments, Timberland and Unilever.
FOR ADDITIONAL INFORMATION REGARDING THIS ANNOUNCEMENT, CONTACT THE
MANUGISTICS NEWSBUREAU HOTLINE AT 301-984-5330.
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This announcement contains forward-looking statements that involve risks and
uncertainties that include, among others, anticipated losses, unpredictability
of future revenues, potential fluctuations in quarterly operating results,
competition, risks related to quarterly performance, risks of system
interruption,
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anticipated client benefits, delivery of software functionality, management of
potential growth, and risks of new business areas, international expansion,
business combinations and strategic alliances. More information, about factors
that potentially could affect Manugistics' financial results is included in
Manugistics' filings with the Securities and Exchange Commission, including
its Annual Report on Form 10-K for the year ended February 29, 2000 and its
Quarterly Report on Form 10-Q for the quarter ended August 31, 2000.
Manugistics is a registered trademark, and the Manugistics logo, the phrase
"Leveraged Intelligence," and NetWORKS are trademarks, of Manugistics, Inc.
All other product or company names mentioned are used for identification
purposes only, and may be trademarks of their respective owners. Additional
information about Manugistics can be found at the company's site on the World
Wide Web, at www.manugistics.com.
