Tele Atlas To Propose New CEO As Company Ushers In New Era in Digital Mapping
‘s-Hertogenbosch, The Netherlands, June 2008 — Tele Atlas (FSE: TA6, EUNV: TA), a leading global provider of digital maps and dynamic content for navigation and location-based solutions, today announced that following the settlement of TomTom N.V.’s offer for all outstanding shares in Tele Atlas for a price per share of € 30 (the “Offer”), expected to occur on 10 June 2008 (the “Settlement Date”), the supervisory board of Tele Atlas will make a binding nomination to appoint Bill Henry as its new Chief Executive Officer (CEO) and member of its Management Board, following and subject to the completion of the consultation procedures with Tele Atlas’ works council. Alain De Taeye, who formed the company in 1984, will resign as CEO and member of the Management Board after the proposed appointment of Henry. De Taeye will be proposed to be appointed as a member of the management board of TomTom N.V. but will remain strategically involved with Tele Atlas, giving the company continued access to his vast experience and industry knowledge.
Henry has more than 20 years of management experience running global technology companies. Formerly he led the turnaround of healthcare software leader iSOFT. In his role as Chief Operating Officer, Henry was an Executive Director on the iSOFT board and oversaw the company’s successful merger with IBA Health in 2007. Before that Henry was CEO of Star Technology Services, a division of Message Labs Group and a leading provider of messaging security services. He has also held executive roles at PeopleSoft, and Bellcore/Telcordia Technologies, Sprint and Computer Sciences Corporation (CSC).
Alain De Taeye said the proposed appointment of Henry was important for the company’s next stage of development. “Tele Atlas is starting an exciting, new chapter in its history. Bill has the experience and perspective we need to lead the next era in digital mapping, one in which community-based input and real time data help create the best experience for digital map users.”
“I am thrilled to be a part of this exciting company, especially at such a transformative moment in the digital map industry. Tele Atlas will establish the new standard for real time, accurate maps and routing intelligence, and I look forward to working with our partners around the world to deliver the next generation solutions,” said Henry.
Following the Settlement Date, George Fink, President and Chief Operating Officer, will be retiring as President and COO and will step down as a member of the Management Board. “In his tenure at Tele Atlas, George helped the company significantly expand its global operations and strongly position its products for the fast-growing personal navigation market. I thank him for his dedication to and passion for the company,” said De Taeye.
Following and subject to the completion of the consultation procedures with Tele Atlas’ works council, Tele Atlas will, as soon as reasonably possible, convene an extraordinary general meeting of shareholders for the proposed appointment of Henry.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.