35-year IBM veteran joins WireSpring Technologies as Chief Financial Officer

January 21, 2002, BOCA RATON, Fla.-- Robert E. Bonchick, a 35-year IBM veteran and former CFO of the $6-billion-a-year storage systems division, has joined WireSpring Technologies as its new Chief Financial Officer. Bonchick joins the management team as the top financial executive and is expected to be instrumental in WireSpring's sales and profit growth.

As CFO and Assistant General Manager of IBM's storage systems division, Bonchick oversaw the financial operations and growth of a $6 billion per year profit center with 15,000 employees. Previously, he served as CFO and Assistant General Manager of IBM Latin America, where he managed revenues of $2 billion per year and helped negotiate the sale of the Central American operations. Bonchick was also Assistant Controller of IBM, in which capacity he was responsible for IBM's short and long term financial planning. In the late 1980s, he played a key role in the success of IBM's midrange computer family, which became the best selling computer in the firm's history. He holds a Bachelor of Business Administration degree from Baruch College.

"We are very pleased to have Mr. Bonchick join the management team," said Jeremy Zaretzky, WireSpring's President. "He is a seasoned executive with extensive expertise in growing and managing high technology business units. His contribution will be invaluable in helping shape the strategic direction of the company as we continue to commercialize our cutting-edge software offerings and grow shareholder value," Zaretzky added.

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