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MILWAUKEE, Nov. 25, 2013 (GLOBE NEWSWIRE) -- ARI Network Services, Inc. ("ARI") (OTCBB:ARIS) announced today that William ("Bill") A. Nurthen will join the Company's management team as Chief Financial Officer ("CFO") on November 29, 2013 following an extensive executive search. In his role as CFO, Nurthen will be responsible for all financial, risk and SEC compliance functions. Nurthen's financial background spans nearly two decades including extensive experience in corporate governance, mergers and acquisitions, and investor relations.
"ARI has experienced tremendous growth and change over the past 24 months and I expect that to continue. I believe that Bill is the right person to help update and implement the capital planning required to support our long term growth objectives," said Roy W. Olivier, President and Chief Executive Officer of ARI. "Bill's experience with integrating acquisitions, reducing costs, and leading the financial team will be essential to our success as we take ARI to the next level."
Nurthen's breadth of experience includes work in various industries including technology, software, bio-medical and investment banking. Most recently, Nurthen served as CFO of Cabrera Capital Markets, LLC, an investment bank serving institutional and Fortune 500 clients across the globe. During the first six months of his tenure, he achieved a 30% annual cost reduction across the entire business. Additional notable achievements include raising capital and securing financing for new investments.
"I am very excited to be joining the ARI team," said Nurthen. "The company had strong revenue growth in fiscal 2013 and is well-positioned for future earnings growth. I look forward to working with everyone to help the company achieve its strategic and financial goals."
Prior to joining Cabrera in 2011, Nurthen served in a variety of high-level financial leadership positions including CFO of bioLytical Laboratories, where his financial leadership helped that company achieve 150% revenue growth. From 1999 to 2007, Nurthen served as Vice President of Finance and then CFO of Inforte Corp., a NASDAQ company, where his financial leadership helped to grow and diversify the company's revenue through two acquisitions. Bill's contributions helped Inforte consistently exceed their EBITDA and net income projections until they were acquired by Business & Decision Group. From 1997 to 1999, Nurthen worked in various financial operations roles at Platinum Technology International, Inc., a software and consulting company.