Exostar Names Richard Addi President and Chief Executive Officer
HERNDON, VA, April 12, 2011 ─ Exostar, whose cloud-based solutions enable secure, cost-effective business-to-business collaboration, today announced the appointment of Richard Addi as the company’s President and Chief Executive Officer (CEO). Addi brings over twenty years of industry experience to the position, including having served as Exostar’s Chief Financial Officer (CFO) for the past four years.
“We firmly believe Richard possesses the characteristics and credentials the company needs in its next leader,” said Paul G. Kaminski, Exostar’s Chairman of the Board, who also is Chairman and CEO of Technovation Inc., and Chairman of the Defense Science Board. “His track record of success at Exostar and elsewhere, including guiding Exostar to its strongest-ever financial position in 2010 while filling the President and CEO roles on an interim basis, unquestionably makes him the right person for the job.”
Throughout his career, Addi has provided the strategic vision and tactical expertise to help companies execute operational transformation and create scalable business enterprises, both of which are essential to top-line and bottom-line growth over the long-term. He has leveraged that vision and expertise to help Exostar simplify its business - with the goal of removing inefficiencies to generate enhanced customer and shareholder value - while also enabling the company to successfully navigate through challenging economic and market conditions.
“My objective has been, and will continue to be, the implementation of an increasingly mature culture that allows all of our employees to focus on achieving unparalleled excellence in the development, delivery, and support of solutions for our customers,” Addi said. “With that culture in place, we are well-prepared to pursue our go-to-market strategy and take full advantage of the business opportunities in aerospace and defense, healthcare, and other industries that will drive our continued growth going forward.”
Prior to his tenure at Exostar, Addi was Vice President of Finance at Data Systems & Solutions, a world leader in asset management and predictive maintenance that was a joint venture between Rolls-Royce and SAIC. He also worked at Rolls-Royce North America, where as Director of Tax, he was responsible for design and implementation of corporate restructurings, cross-border financing, mergers and acquisitions, and economic development.
“Boeing fully endorses Richard Addi as our next CEO of Exostar,” said Ron Shelley, Vice President of Boeing Defense, Space & Security Supplier Management and Global Sourcing Initiative leader. “He did an excellent job with bringing value and efficiencies in his prior CFO role. Richard’s leadership skills will align well with developing a more valued offering for our suppliers/customers.”
Exostar powers secure business-to-business information sharing, collaboration and business process integration throughout the value chain. Exostar supports the complex trading needs of many of the world's largest companies in aerospace and defense, life sciences, and other industries. Exostar’s cloud-based identity assurance products and business applications reduce risk, improve agility and strengthen trading partner relationships and profitability for over 70,000 companies worldwide, including BAE Systems, The Boeing Company, Lockheed Martin Corp., Raytheon Co. and Rolls-Royce. For more information, please visit www.exostar.com.
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