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CALGARY, AB, Nov. 9, 2020 /CNW/ - The Board of Directors of
Sylogist Ltd. (TSXV: SYZ) ("Sylogist" or the
"Company"), is pleased to announce the appointment of veteran
technology leader Bill Wood as
President & CEO. Mr. Wood has also been appointed to the
Company's Board. He will take up his post immediately,
succeeding recently retired President & CEO Jim Wilson.
Bill has led a number of technology companies, with over 25
years' experience in Sylogist's core verticals of Not-For-Profit
and Municipal enterprises. Bill started his career as a
founding member of Blackbaud Inc. In increasingly senior
management roles in sales, marketing and ultimately as chief
executive in a number of companies, Bill's career highlights
include successes in building sales teams & marketing
strategies, launching a SaaS charitable giving platform and leading
a company's strategic transition from a niche, license-based
provider to a SaaS market leader. Additionally, Bill is
seasoned in strategic acquisitions, having managed a business
alignment that incorporated seven entities. He most recently
was President and Chief Executive Officer of private equity-backed
FrontStream, a leading, SaaS provider in the NFP, payments,
employee giving and corporate social responsibility sectors.
Throughout his career, Bill has demonstrated the ability to
create significant value through both organic and inorganic
initiatives.
Mr. Wood was selected by a committee of independent directors of
Sylogist, following an extensive international process, which
presented a strong field of candidates. "We are fortunate to
have attracted someone of Bill's caliber and experience to lead
Sylogist" commented Barry Foster,
Sylogist's Chair and Interim CEO. "His career background in
software and familiarity with our business segments will help us
continue to evolve our strategy as we begin our next chapter.
Starting with a strong balance sheet, significant recurring revenue
and industry-leading margins, the Board has challenged Bill to
focus the Company's extensive resources on both organic investments
in its own IP portfolio and on strategic acquisitions to leverage
its IP platform and market position.
Incoming President & CEO Bill
Wood added: "I feel my career background has positioned me
well to lead the Sylogist team. My skills, experience,
passion and the Board's shared vision are very much aligned. I look
forward to getting started and to sharing the Company's focus and
refined strategic direction with the market in the near
future."
About Sylogist
Sylogist is a software company that, through strategic
acquisitions, investments and operations management, provides
comprehensive, mission-critical ERP and CRM solutions, including
fund accounting, case management, grant management and payroll, to
public service organizations. Sylogist's public service
customers include all levels of government, nonprofit
organizations, non-governmental organizations, educational
institutions as well as public compliance driven and funded
companies. Our Company delivers highly scalable, multi-language,
multi-currency software solutions, which serve the needs of an
international clientele.
Full financial statements together with Management's Discussion
and Analysis are available on SEDAR at www.sedar.com.
The Company's stock is traded on the TSX Venture Exchange under
the symbol SYZ. Information about Sylogist can be found at
http://www.sylogist.com.
Forward-looking Statements
Certain statements in this news release may be
forward-looking statements within the meaning of applicable
securities laws and regulations. These statements
typically use words such as expect, believe, estimate, project,
anticipate, plan, may, should, could and would, or the negative of
these terms, variations thereof or similar terminology.
Forward-looking information in this news release includes
statements with respect to the incoming CEO's
ability to create significant value through both
organic and inorganic initiatives and his extensive tech background
and familiarity with the Company's business segments helping it to
continue to refine its strategy. By their very nature,
forward-looking statements are based on assumptions and
involve inherent risks and uncertainties, both general and specific
in nature. It is therefore possible that the beliefs and
plans and other forward-looking expectations expressed herein will
not be achieved or will prove inaccurate. Although Sylogist
believes that the expectations reflected in these forward-looking
statements are reasonable, it provides no assurance that these
expectations will prove to have been correct. Forward-looking
information involves risks, uncertainties and other factors that
could cause actual events, results, performance, prospects and
opportunities to differ materially from those expressed or implied
by such forward-looking information. Additional information
regarding some of these risks, uncertainties and other factors may
be found under in the management's discussion and analysis for the
quarter ended June 30, 2020 and other
documents available on the Company's profile at www.sedar.com.
Material assumptions and factors that could cause actual
results to differ materially from such forward-looking information
include the incoming CEO's ability to refine
Sylogist's strategy and to create value both organically and
by acquisitions. Although Sylogist believes that the material
assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur. Sylogist disclaims any intention or
obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
other than as required by law.
Certain information set out herein may be considered as
"financial outlook" within the meaning of applicable securities
laws. The purpose of this financial outlook is to provide readers
with disclosure regarding Sylogist's reasonable expectations as to
the anticipated results of its proposed business activities for the
periods indicated. Readers are cautioned that the financial outlook
may not be appropriate for other purposes.
- Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release -
SOURCE Sylogist Ltd.
