Financial Pro for PurchasePro

PurchasePro appoints new CFO

Las Vegas  October 1, 2001  B2B e-commerce software provider PurchasePro today announced that its board of directors has appointed Mark Donachie as its new chief financial officer. Donachie, 41, brings more than 20 years experience with him, having worked with some of the country's leading companies, including Coca-Cola, Hunt Consolidated Inc. and, most recently, Sterling Commerce, a wholly owned subsidiary of SBC Communications.

While at Sterling, Donachie served as vice president of finance for seven years and he built and implemented financial infrastructures, developed financial models and reporting systems and ensured financial results were reported accurately and timely for the e-business integration company.

In a statement released by the company, PurcasePro officials said they believe Donachie's extensive experience in joint ventures, network services, banking systems and acquisitions is an important addition to PurchasePro and its new corporate direction.

"Having Mark on board not only fills this important role for our company, but also enables me to relinquish my interim CFO title as I focus solely on my responsibilities as president and chief executive," said Richard Clemmer, president and chief executive officer. "In addition to his financial responsibilities, Mark will also manage the company's human resource and facilities functions, which were formerly reporting to our chief operating officer and general counsel."

"PurchasePro represents an excellent opportunity to be part of a company that has proven products, an extremely dedicated employee base and a highly experienced management team," Donachie said in the statement. "I look forward to continuing in the turnaround effort of this tremendous company, and I will personally ensure that our strategic business objectives are fully supported by a solid financial plan."

Donachie holds a bachelor's degree from Tulane University and also brings broad marketing, sales, technology and software contract experience to PurchasePro. Donachie is expected to make an immediate impact on the company and its constituencies.