NETSUITE STRENGTHENS GLOBAL LEADERSHIP WITH NEW EXECUTIVE APPOINTMENTS IN JAPAN AND UNITED KINGDOM
Former SAP VP Hajime Tamura and European Technology Distribution Expert Steve Sydes Take Reins In Key International Markets
SAN MATEO, Calif.—August 5, 2009—NetSuite Inc. (NYSE: N), a leading vendor of cloud computing business management software suites, today announced the appointment of Hajime Tamura as President of NetSuite K.K. in Japan and Steve Sydes as Managing Director of NetSuite Europe-Middle East-Asia (EMEA). The new executive hires strengthen NetSuite's international leadership in cloud computing and continue its expansion in key international markets. Together, Mr. Tamura and Mr. Sydes bring decades of management experience in enterprise technology to NetSuite at a crucial time of growth and development in their respective markets.
Mr. Tamura comes to NetSuite K.K. from SAP Japan, where he served as Vice President of the Customer Innovation Centre and Vice President of Marketing. Prior to SAP, Mr. Tamura managed the Japanese subsidiary of Glovia International for nearly nine years. Earlier in his career he held sales and management roles at J.D. Edwards, Baan, and Otsuka Corporation.
Mr. Tamura is expected to build on NetSuite's early investment and successes in the Japanese market. The recent launch of NetSuite Release J established NetSuite as the first and only SaaS (Software as a Service) enterprise solution with comprehensive support for Japanese businesses. Support for Tegata (promissory note) payments, J-GAAP-compliant reporting, extensive Consumption Tax support, and full localisation make NetSuite ideal for native companies as well as multinational branch offices.
Mr. Sydes joins NetSuite EMEA after more than ten years with Acal plc in the U.K., where he served as Managing Director and a member of the Board of Directors. As the head of the company's Electronics Division, its leading revenue-producer, Mr. Sydes oversaw direct corporate operations in 13 countries as well as Baltic, Eastern European, and Israeli distribution operations. Under his guidance, Acal was increasingly profitable and made several internal process improvements geared for efficiency and enhanced customer service. Prior to Acal, he worked as an engineer, sales director, and managing director for firms such as Advanced Crystal Technology, Gothic Crellon, and GEC Computers.
"We are excited to have two outstanding executives join the NetSuite team to expand our investments in Japan and Europe and capitalise on our early success," said Zach Nelson, CEO of NetSuite. "Both gentlemen bring to their assignments solid track records of success and a wealth of operational experience that will help NetSuite address the huge international market opportunity for cloud computing solutions based on our leading integrated suite technology."
In addition to his considerable experience in sales, marketing, and product management, Mr. Tamura is the co-inventor of a patented approach to granular resource planning software design for manufacturing. He is a graduate of the law program at Kokugakuin University. Mr. Sydes is a qualified Electronic Engineer, holds Professional Sales and Marketing qualifications through the Chartered Institute of Marketing and is a graduate of the Advanced Management Programme at the Ashridge Business School in the U.K.
Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating to NetSuite's future growth in international markets. These forward-looking statements are based upon the current expectations and beliefs of NetSuite's management as of the date of this release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and NetSuite disclaims any obligation to update these forward-looking statements.
In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: continued adverse and unpredictable macro-economic conditions or reduced investments in on-demand applications and information technology spending and the risk of technological developments and innovations by others. For a detailed discussion of these and other cautionary statements, please refer to the risk factors discussed in filings with the U.S. Securities and Exchange Commission ("SEC"), including but not limited to the Company's Quarterly Report on Form 10-Q for the period ending March 31, 2009, and any subsequently filed reports on Forms 10-K, 10-Q and 8-K. All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval system ("EDGAR") at www.sec.gov or NetSuite's Web site at www.netsuite.co.uk.
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