Tilion Seeking New CEO

Co-founder Stone resigns to re-join Novell, but remains chairman of board

Maynard, MA  February 28, 2002  The CEO and co-founder of Tilion, a provider of supply chain event management solutions, has resigned to re-join software company Novell, Tilion announced this week.

Before co-founding Tilion in January 2000, Chris Stone was Novell's senior vice president for corporate strategy. He re-joins Novell as vice chairman, office of the CEO. Stone will continue to serve as Tilion's chairman of the board.

Tilion said its board of directors has retained an executive search firm to fill the CEO position. The company's chief financial officer, Bob Mayerson, is fielding inquiries regarding the position.

Mayerson, also a co-founder, said in a statement that the company's business fundamentals remain strong. "We have a growing base of initial customers and revenue, superior technology and solutions, and a large capital reserve to fund our continued growth," Mayerson said.

Representatives of North Bridge Venture Partners and Venrock Associates, both original co-investors in Tilion, said in the company's statement that the investors remain committed to Tilion.

Tilion provides real-time event management solutions for logistics and supply chain managers. Based in Maynard, Mass., the company is privately owned and funded.