Musical Chairs at Ventro

New CEO named as company re-positions itself as software provider

Mountain View, CA  November 27, 2001  Ventro, erstwhile poster child for e-B2B before the dot-com boom turned to dot-kaboom, named a new CEO this week, appointing the former head of a company that Ventro bought out earlier this year.

Ted Drysdale, past CEO of NexPrise, acquired by Ventro in August, will take over the helm as president, CEO and chairman of the board at Ventro, which is now billing itself as a provider of collaborative solutions for program management and quote management.

Drysdale had been Ventro's president following the NexPrise acquisition. He replaces David Perry as CEO. Perry, Ventro's founder, will become vice chairman.

Drysdale, said Perry, will lead Ventro as the company completes its transition from B2B e-marketplace maven to its new position as a software provider for B2B e-commerce.

Helping Ventro along in that transition, the company's board of directors also elected two new members with software and industry experience: Dr. John Glancy, a member of the board of directors of Science Applications International Corp. (SAIC); and Tom Jones, the former president and CEO of StrataSource, an application and infrastructure management services provider that was acquired by SevenSpace in September.

The new Board members replace Brook Byers, Jan Leschly, Naomi Seligman and L. John Wilkerson, who resigned. Ventro said it expects to add further to its board of directors over the next few weeks.