Prophecy Appoints New CEO
Released 14 March 2001
Australian-based software multinational Prophecy International
(ASX:PRO) has aligned its corporate structure with its strongest
growth markets by appointing a new Chief Executive Officer located
in the United States.
Prophecy's new CEO , Bruce Lakin, former General Manager of Toshiba
(Australia) Information Systems Division (ISD), will take up his
post in early April, and will initially work from Prophecy Americas
current head office in Denver, Colorado. Bruce Lakin comes with
extensive industry experience, having in 5 years grown the local
Toshiba business by some 200% and increased market share to 35%.
Previous positions held by Bruce include CEO of Sequoia Systems
Asia Pacific, CEO of Wordperfect Pacific, various senior positions
in marketing, general management and sales within UNISYS and as
sales director with Honeywell Information Systems. Bruce is a very
experienced executive in the IT sector and comes with excellent
credentials of success within large multinational companies.
In announcing these changes today, Chairman Bob Shaw said "The
Board recognizes the need to increase our presence and sales penetration
in the major global market sectors and we have aggressive growth
plans. Bruce comes with an impressive track record of driving and
"The changes reflect Prophecy's focus on specific segments
of the market where our products stand out, on its push to raise
the profile of the company through increased pro-active marketing,
and on strategic partnerships".
"Our e-Foundation product suite has appeal across the enterprise
with technically advanced e-Business solutions for the Web to the
Back-Office. In addition e-foundation will open up partnership opportunities
to address specific vertical markets across the world. The combination
of Bruce's leadership, expanded marketing activities, managed key
alliances and our new and unique Java based products place us in
a strong position to achieve the growth plans for the company".
Bruce Lakin said "I am excited about the potential of Prophecy.
The product set has universal appeal and applicability. It will
be successful in the selected global markets and this will result
in outstanding growth for Prophecy in the near future."
Outgoing CEO, Ed Reynolds will take on responsibility for worldwide
strategic agreements and partnerships in his new position of Director
As part of the corporate restructure, Executive Director ,Alan Greig
has also assumed new responsibilities, including Asia-Pacific regional
sales. Corporate marketing initiatives, including product direction
will be Alan's responsibility. This area will be getting a major
boost in Prophecy's drive for growth.
In its recent half-year financial results, Prophecy International
announced it is expanding the sales and marketing activity, particularly
in the Northern Hemisphere to fully realise the revenue potential
of its products.
Prospects in the North American marketplace are particularly healthy
and as a result Prophecy is expanding its direct sales resource
in the territory to cover the West Coast and the North East regions,
so that maximum benefit can be derived from the very large sales
opportunities that are available in the Northern Hemisphere.
The Board believes that by moving its unique products to the Java
environment, a very much larger market will open up for the company
and is determined to provide the structure and staffing that will
maximize these opportunities, particularly in the larger overseas