Prophecy Announces New CEO - with Focus on the
Released 21 February 2003
The Board of the Australian Stock Exchange-listed software multinational
Prophecy International Holdings Ltd (ASX: PRO) is pleased to announce
Mr Alan Greig as Chief Executive Officer. In making this appointment
the Board is confident Mr Greig is the best person to lead the company
back to profitability.
Mr. Greig joined Prophecy in 1991 to assist in the building of
the international distribution network that laid the foundation
for the success of Prophecy Classic Financials software suite. This
resulted in a network that extended throughout Europe, Asia, Africa
and North America, ensuring that the original Prophecy Financials
software suite was installed at hundreds of sites worldwide.
During his 11 years at Prophecy Mr Greig has held the positions
of Channels Manager, Sales and Marketing Manager, Director World
Sales and Chief Executive, Australia Asia & Africa. In this
last position Mr Greig led the region to highly profitable results
over the past two years. He has been an Executive Director of Prophecy
since its float in 1998.
Mr Greig brings to the position an intimate knowledge of Prophecy
products, its people and the challenges it faces. He has had personal
involvement in major sales Prophecy has achieved including the largest
contract signed by Prophecy with the ANZ bank.
During a three-month interim role following the departure of former
CEO Bruce Lakin, Mr. Greig has completed a global restructure that
aligns Prophecy's corporate operations with the subdued market but
positioning it to take advantage of an anticipated upturn in the
latter half of 2003. "We have made the hard decisions that
were necessary to reduce our cost base so that Prophecy's infrastructure
matches the current trading environment," he said.
"The market has changed. Customers are not prepared to just
replace systems, they are looking for a return on existing investment.
Our products a strongly positioned to capitalise on this opportunity
by offering an affordable extension to legacy systems".
Mr. Greig said his goal for 2003 was to return Prophecy to profitability.
"We have the products, the people and the prospects to deliver
sustainable profits," he said.