Press ReleasesPowered Appoints David Settle as Chief Financial Officer25 Year Technology Veteran Brings Broad Expertise in Finance, Operations and Administration to Powered's Executive Team Austin, TX — September 10, 2007 — Powered, the leading provider of online consumer education programs, today announced the appointment of David Settle as chief financial officer. Settle, an accomplished technology executive with more than 25 years of financial, operating and strategic expertise, most recently served as co-founder and CFO of Austin-based Mirage Networks. Beginning immediately, Settle will assume responsibility for directing the financial execution of Powered's strategic business plan and supporting its sustainable high-growth business model to maximize the company's business value. "I am very happy to join Powered to help it achieve a new level of success as a marketing technology leader," said Settle. "Powered is very well positioned to deliver tremendous value as attention and budgets shift to non-traditional and non-invasive forms of advertising, and the company is pursuing the right strategy to maximize its potential. This is a very exciting time for both the company and market, and I'm thrilled to lend guidance as Powered continues to scale to meet the rising demand for its services and technology." Prior to his Powered appointment, Settle co-founded Mirage Networks in 2001, where he served as chief financial officer and vice president of administration. In these roles, he was responsible for managing all aspects of the accounting, finance, manufacturing operations, IT, HR, legal and administrative functions. Under his leadership, Mirage Networks secured over $40 million in venture capital funding and implemented key business processes to support revenue growth, expense control and regulatory compliance. "David has a strong track record of building and running successful technology companies," said Dave Ellett, CEO of Powered. "He combines exceptional management, team building and communication skills with a very solid background in strategic partnerships and acquisitions, financial management, and cost analysis and control. David is a very valuable addition to Powered's senior management team and we are thrilled to have him on board." Prior to Mirage Networks, Settle served as CFO at Exterprise Inc., a B2B software company, where he directed the company's operational management and led negotiations in their merger with Commerce One. Previously, David was CFO at Dazel Corporation, where he managed the company's financial, administrative, and IT groups, and played a significant role in the company's acquisition by HP. David spent nine years at Convex Computer Corp., where he served in a variety of marketing and finance positions, including corporate treasurer. He also has experience in the securities industry, having served as an investment banker and software research analyst. Companies including Atkins, Forbes.com, BusinessWeek, HP, iVillage, Radio Shack and Sony are currently using Powered's pioneering consumer education programs to provide consumers with rich online learning experiences that increase sales, improve brand loyalty and deliver new insights into consumer attitudes and buying behavior. Powered provides the top-tier technology, services and content that companies need to be quickly up and running with their own online education programs. To date, Powered's online consumer programs have driven more than 80 million consumers to its clients' sites and generated more than half a billion dollars in product sales. About Powered Inc. |
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