ARI Names Robert Y. Newell To Board Of Directors
MILWAUKEE, Wis., Nov. 8, 2012 /PRNewswire/ -- ARI Network Services, Inc. (OTCBB: ARIS), a leading provider of technology-enabled SaaS and DaaS business solutions that help dealers, distributors and manufacturers increase revenue and reduce costs, announced today that Robert Y. Newell, of Portola Valley, Calif, has been appointed to its Board of Directors. Mr. Newell will serve until the company's Annual Meeting in January 2014, at which time he will be subject to election by the shareholders. Newell will join the Audit Committee, with other committee memberships pending.
Currently, Newell is the CFO and Vice President of Finance of Cardica, Inc. (Nasdaq: CRDC), a leading provider of advanced laparoscopic stapling devices for general surgery and automated anastomosis systems used by cardiac surgeons. Prior to joining Cardica in 2003, he was Vice President Finance and Chief Financial Officer for Omnicell, Inc., a hospital supply medication management company. He was a partner in the Beta Group, a business development firm from 1998-1999 and held financial management positions with medical and technology companies in Silicon Valley for over 30 years. Mr. Newell holds a B.A. degree In Mathematics from the College of William & Mary and an M.B.A. degree from the Harvard Business School.
"The addition of Bob to our Board of Directors expands the Board's expertise in accounting and financing," said Brian E. Dearing, ARI's Chairman of the Board. "Bob's more than 30 years of executive management experience, including working with start-up companies in the medical and technology arenas and successfully completing four public offerings, strengthens our Board. We are delighted to welcome Bob as our newest independent member of the Board of Directors."
"ARI made material infrastructure and operational investments over the last two years to scale the business and support sustainable and profitable double-digit top line growth," said Roy W. Olivier, CEO and President of ARI. "Bob's experience as a CFO and successful fund raising track record will prove invaluable as we identify and pursue new growth opportunities. I look forward to working with him and am confident that his contributions will help us grow our business, both organically and through strategic acquisitions.""I'm excited to be a part of ARI's Board of Directors, particularly at this time of significant opportunity for growth and value creation," said Newell. "I'm impressed with what Roy and his team have already accomplished and am enthusiastic about their plans for the future. I'm confident that ARI's true value will be recognized as the company continues to achieve future milestones."
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