CLEVELAND, Nov. 10 /PRNewswire/ -- Axentis, a leading supplier of Governance, Risk and Compliance (GRC) and Sarbanes-Oxley (SOX) applications, today announced that Ken Sexton has been named the company’s chairman and CEO. Sexton will focus on further advancing Axentis’ leadership position through corporate development initiatives, M&A and other strategic business development activities. Mr. Sexton has served as a member of the Axentis board for the past year. Ted Frank, who has served as president and CEO since he co- founded Axentis, continues to serve as president and will oversee day-to-day operations.
“With the GRC market rapidly expanding into a multi-billion dollar technology segment as critical to corporate performance as ERP and similar technologies, this was the right time to expand our management team in order to fully capitalize on this significant opportunity,” said Frank. “Ken’s proven ability to grow, acquire and manage profitable enterprise software companies combined with his intimate understanding of our business makes him an invaluable addition to the team. Having worked with Ken for the past year in his role as a key Board member, I know first-hand that he has the insight, passion and operational expertise needed to ensure that we build upon our leadership position in the market.”
“Axentis’ ability to attract top tier talent like Ken is both an important step in the company’s evolution and a clear indicator of what we have already achieved,” said Steve Lindseth, Axentis founder. “Ken brings seasoned leadership with an impressive track record of managing rapid growth that is well suited to capitalize on our market leading position and superb organization.”
“I am excited by the opportunity to take a more active role in Axentis’ continued growth as CEO,” added Sexton. “Over the past five years, Axentis has led the GRC market’s rise to prominence through pioneering approaches that have eliminated the numerous silos encumbering Global 2000 organizations’ GRC strategies. We are in the extremely enviable position of targeting a rapidly growing market with a technology, services and management team that I believe is the best in the industry.”
Prior to Axentis, Sexton most recently served as EVP and CFO of Peregrine Systems, Inc. an enterprise software application vendor. In this capacity, he was a core member of the management team brought in to restructure the company and was credited with successfully recapitalizing the company in bankruptcy, making Peregrine the first public software company in US history to reemerge as an independent public entity. Before Peregrine he was SVP and CFO of Merant, plc and Intersolv, Inc. during periods of significant growth taking them to $370 million and $200 million in annual revenues respectively.
About Axentis
Founded in 1999 with the mission to develop the first broad governance, risk and compliance technology framework, Axentis delivers managed service software addressing specific compliance problems including those associated with Sarbanes-Oxley, HIPAA and many more. With over 600,000 users in 100+ countries, and representing over $700B in revenue from virtually every industry sector, Axentis customers represent the most influential community of GRC professionals today. Axentis is also a founding member of the Compliance Consortium ( http://www.thecomplianceconsortium.org/ ). For additional information about Axentis, call (800) 955-2706 or visit http://www.axentis.com/ .
Axentis
CONTACT: Gil Chorbajian of Ogilvy Public Relations Worldwide,+1-518-355-0966, gil.chorbajian@ogilvypr.com