McCormick named Perfect COO and CFO

Former iPrint exec plans to drive growth


Palo Alto, CA -- January 31, 2001 --  Strategic sourcing platform manufacturer Perfect recently appointmented James McCormick as Chief Operating Officer and Chief Financial Officer. In the newly created roles of COO and CFO, McCormick will guide the company's strategic operations and business growth initiatives. The former COO and CFO for iPrint, McCormick will report to Kevin Surace, president and CEO.

"The most exciting e-business initiatives today are about gaining transactional efficiencies in the supply chain, and after speaking with current and potential customers, I am convinced that Perfect's solution is a necessary requirement for Fortune 1000 companies looking to deliver true cost reductions and enhanced supplier relationships,'' said McCormick. "The technology that Perfect has created is world-class, and the potential financial improvement this can bring to a corporation's bottom line is significant."

"We're seeing a trend among Fortune 1000 customers to bridge the information gap between the CFO and the CPO," said Kevin Surace, president and CEO of Perfect. "James has a solid appreciation of how strategic enterprises view our opportunity for improving their bottom line quickly. Supplier Relationship Management (SRM) and Decision Support are real benefits that we are delivering to our customers today, and as COO and CFO, James will help drive our growing worldwide presence and strengthen our position as a leading provider of strategic sourcing."

McCormick comes to Perfect with a solid career managing administration, finance and technology. Previously at iPrint, McCormick served as the COO and CFO focusing his efforts on the company's operations and business strategies. McCormick was also pivotal in the company's successful initial public offering. Prior to iPrint, McCormick served as COO and CFO for General Magic, Inc. where he was instrumental in raising more than $100M in capital for the company. Earlier, McCormick was Vice President, Finance and Administration and CFO at UB Networks where he was responsible for the integration and management of all financial and administrative functions of the $400 million networking company. Prior to joining UB Networks, he held a variety of senior management roles at Tandem Computers.