Endurance International Group Announces Executive Appointments
BURLINGTON, Mass., May 16, 2017 (GLOBE NEWSWIRE) -- Endurance International Group Holdings, Inc. (NASDAQ:EIGI), a leading provider of cloud based platform solutions, today announced that Marc Montagner has been appointed Interim Chief Operating Officer in addition to his current position as Chief Financial Officer, effective immediately. Mr. Montagner has served as Endurance's CFO since September 2015 and will continue to report to Hari Ravichandran, the company's Founder and Chief Executive Officer until the CEO transition plan is completed. As previously announced, Endurance is actively conducting a search to identify Mr. Ravichandran's successor.
Mr. Montagner has nearly 20 years of extensive experience across relevant industries having previously served as CFO at LightSquared, Inc. as well as Executive Vice President of Strategy, Development and Distribution at the satellite communications company. He also served as Managing Partner of DuPont Circle Partners LLC, as well as Managing Director and Co-Head of the Global Telecom, Media and Technology Merger and Acquisition Group at Banc of America Securities. Until 2006, he was Senior Vice President, Corporate Development and M&A with the Sprint Nextel Corporation. Prior to 2002, Mr. Montagner was a Managing Director in the Media and Telecom Group at Morgan Stanley.
"Marc has served Endurance well during his tenure and we welcome his strong operating experience," said Hari Ravichandran. "We expect that this expanded role will ensure consistency within the organization as the company evolves and we transition leadership."
Endurance also announced the appointment of Allen M. Chaves Jr. as the company's new Chief Technology Officer. Chaves brings 28 years of technology strategy and software architecture experience with him to Endurance, where he will spearhead the vision and strategic direction for all of the company's software offerings. He will directly lead the software engineering teams for Endurance and will work closely with executive management to implement platforms that support the business strategy, ensuring Endurance's products, technology platforms and architectures evolve to support emerging customer and market opportunities.
"We're pleased to have Allen join our team to help improve the technology capabilities of our software offerings across our key brands," said Hari Ravichandran. "As we continue to make operational improvements across the company, we're committed to investing in the right talent to help us become better positioned in the marketplace. I'm confident that with Allen's leadership and platform architecture expertise, we're well on our way to meeting our business goals."
Chaves has led the technology architecture teams at several notable technology organizations. He joins Endurance after serving most recently as Chief Software Architect for Ultimate Software, where he led the technology strategy and architecture for Ultimate's SaaS products, shared services, big data, and cloud.
Previously, Chaves served as Chief Architect and Director of Engineering for the Quickbooks Online Platform at Intuit. In this role, Chaves was responsible for all aspects of the technology and architecture of an 800M+ business unit and led a team of senior engineering leaders and architects. He also held the position of Principal Software Architect for Sage, where he led the creation of Sage's SaaS HRMS product.
Chaves holds a Bachelor of Science degree in Computer Science from the Universidade Federal de Minas Gerais in Brazil.
This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning our beliefs and expectations about our future executive leadership, organizational structure and contributions of Mr. Montagner and Mr. Chaves. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts, and statements identified by words such as "expects," "believes," "estimates," "will," "may," "continue," "confident," and variations of such words or words of similar meaning and the use of future dates. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that these plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, the risks set forth under the caption "Risk Factors" in our Quarterly Report on Form 10-Q for the period ended March 31, 2017 filed with the SEC on May 9, 2017 and other reports we file with the SEC. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
About Endurance International Group
Endurance International Group Holdings, Inc. (NASDAQ:EIGI) (em)Powers millions of small businesses worldwide with products and technology to vitalize their online web presence, email marketing, mobile business solutions, and more. The Endurance family of brands includes: Constant Contact, Bluehost, HostGator, iPage, Domain.com, BigRock, SiteBuilder and SinglePlatform, among others. Headquartered in Burlington, Massachusetts, Endurance employs more than 4,000 people across the United States, Brazil, India and the Netherlands. For more information, visit: www.endurance.com.
Endurance International Group and the compass logo are trademarks of The Endurance International Group, Inc. Other brand names of Endurance International Group are trademarks of The Endurance International Group, Inc. or its subsidiaries.
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