Siemens-Gores JV names CEO

Oct 03, 2008 (Datamonitor via COMTEX) -- SI | Quote | Chart | News | PowerRating -- Siemens Enterprise Communications, a new joint venture between The Gores Group and Siemens AG, has announced the appointment of James R O'Neill as its new CEO.

O'Neill was formerly CEO of CompuDyne, which is owned by The Gores Group. In his 30-year technology career, he has been president of Northrop Grumman's Information Technology division and also worked for Oracle, Lucent, and Digital Equipment Corporation.

Gores has a 51% stake in the venture, with the remaining 49% held by Siemens. The companies also announced a E350m ($550m) investment in the new company.

O'Neill will oversee the operational merger of Siemens Enterprise Communications with two of Gores' portfolio companies: network equipment and security solutions provider Enterasys and call center software company SER Solutions.

Mark Stone, chairman of Siemens Enterprise Communications and managing director of The Gores Group, said: "With a consistent track record of managing multi-billion dollar international businesses that have generated stellar revenue and profit increases, Jim O'Neill is an excellent choice to lead the organization. Additionally, his strong pedigree of technology industry experience, commitment to serving his customer base, and background in managing integrations make him uniquely qualified to lead this new company."

http://www.datamonitor.com

Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index