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TheStreet Open House

Daegis CEO To Step Down In February 2013

Stocks in this article: DAEG

Daegis Inc. (NASDAQ: DAEG), an eDiscovery and information management company, today announced that Todd Wille plans to step down as President, Chief Executive Officer and member of the Board of Directors to pursue new leadership opportunities. Timothy Bacci, Executive Chairman of the Board, will serve as Interim CEO and work with Mr. Wille to ensure a smooth transition, which is expected to be completed in February 2013.

The Company further announced that Chief Financial Officer Steven Bonham will also step down in February 2013. The Board has appointed Steve Baker Interim CFO. Mr. Baker is a Partner with Tatum, a national Executive Services consulting company, with more than 25 years of experience. The Board will begin the search process, starting with the CFO, and expects to have it completed in the next 4-6 months.

Executive Chairman Timothy Bacci commented, “The Company is on course in its evolution to become a market leader with our SaaS eDiscovery and archive offerings. Starting with the hiring of our eDiscovery Division President last May, we have been planning the integration of business strategies for our eDiscovery and AXS-One archiving divisions. We believe there is growing customer demand for comprehensive information management and eDiscovery to support Big Data, analytics and Information Governance requirements. Accordingly, the board has decided to accelerate this vision and bring in the pertinent skill sets to capture new market opportunities. With the continued stability and profitability of our tools and migration businesses, strong division leadership in place, and technology advancements over the past year, we believe we are primed to drive growth, profitability, and value for our investors and customers.”

Mr. Bacci continued, “On behalf of the board, I thank Todd for his leadership, integrity and resolve in guiding Daegis over the past 12 years and solidly positioning the Company for future growth. We thank Steve for his dedication and diligence in serving the board, investors, customers, and vendors for the past seven years and through multiple acquisitions and financings. We wish Todd and Steve all the best in the future.”

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