DUBLIN, Ireland & WALTHAM, Mass - April 14, 2005: IONA Technologies (NASDAQ:IONA, ISE: IONA.I), a world leader in high-performance integration solutions for mission-critical IT environments, today announced that Mr.
Peter M. Zotto, President & Chief Operating Officer, has been appointed Chief Executive Officer (CEO) and elected to IONA's Board of Directors with immediate effect. Mr. Zotto succeeds Dr. Chris Horn, IONA's co-founder, who assumes the role of non-executive Vice-Chairman of the Board.
"When Chris Horn returned to the position of CEO in May 2003, the primary challenge was to architect a new direction for IONA; one that regained customer confidence, re-aligned IONA's investments and put a new management team in place," stated Kevin Melia, Chairman of the Board, IONA.
"Under Peter's leadership, we built on existing management and installed a team that combines market and customer-focused thinking with proven industry leadership experience. This team has successfully focused IONA operationally, established IONA's stewardship for CORBAÂ®, and returned the company to profitability while launching IONA into a new growth market with Artix," added Chris Horn, vice-chairman and co-founder, IONA. "These appointments are taking place at the right time and represent a natural transition and progression for the company. Furthermore, as Vice-Chairman and a shareholder, I remain committed to IONA and furthering the company's strategic development toward renewed market leadership."
Mr. Peter Zotto concluded, "I am pleased and honored to accept this appointment. IONA is well positioned to lead the industry and return to a track record of profitable growth and innovation. Over the past two years, Chris and I have developed a great relationship and I look forward to his continuing contributions. Our objective now is to return the company to sustained profitable growth. Today, IONA has an established, stable and cash-generative business built on CORBA and we are recognized as an industry steward in the CORBA market. Artix is now recognized as a leading product in the emerging SOA and ESB markets. Moreover, IONA has terrific assets; a blue chip customer base, an industry leading product in Artix, a highly leverageable business model and excellent people. These assets form the foundation for returning IONA to market leadership."
About Peter Zotto
Mr. Zotto has held a number of executive positions in technology-oriented organizations including Digital Equipment Corporation where he was General Manager and Vice President, Workstations Business, Vice President European Sales and Marketing and General Manager, Systems Business Unit. Mr. Zotto has held several CEO positions with technology companies in emerging markets. He was also the founder of Claright, a consulting firm specializing in providing marketing expertise to small to mid-sized companies in rapidly changing markets.
Mr. Zotto joined IONA in August 2003 and was appointed Chief Operating Officer in October 2003. He was appointed President in October 2004.