Internet Executive Joins traffic.com; Chief Financial Officer Named
8 February 2000
Internet Executive Joins traffic.com; Chief Financial Officer Named
CAMP HILL, Pa.--Feb. 8, 2000--Joseph A. Reed has been appointed Chief Information Officer and James R. Puckett has been named Chief Financial Officer by traffic.com, a leading provider of real-time traffic and logistics information services.Reed will manage traffic.com's IT initiatives with a focus on e-commerce applications for both business-to-business and business-to-consumer solutions. Puckett will have oversight responsibility for all corporate financial matters.
About Joseph A. Reed
Prior to joining traffic.com, Reed was Director of Internet Development for Towers Perrin, heading the I*Net unit responsible for the Internet and Intranet infrastructure for Towers Perrin worldwide. Responsibilities included the R&D group, Architecture and Infrastructure group and a Web development group.
Towers Perrin is a global HR consulting firm with approximately 8,000 employees, annual revenues of $1.2 billion and 85 offices worldwide.
Previous positions included multiple roles at Reality Online, Inc., a Reuters subsidiary. Key responsibilities included Senior Vice President of the Electronic Brokerage unit, which he headed, and Director, Strategic Products Group, managing multiple product development teams and overseeing product design.
He was also a software engineer at UNISYS Corporation where he received a patent for work in software development.
"Adding a person of Joe's stature and vision is a coup for traffic.com," commented David L. Jannetta, President and Co-Founder. "His contribution will be invaluable as we deploy nationally to serve both consumers and business customers."
"I am relishing the opportunity of working with a new company to materially change the way traffic information has been collected and distributed," said Reed. "Building a national footprint in a short time frame using a combination of innovative technology solutions is a satisfying challenge."
About James R. Puckett
Puckett was previously the CFO for SpinCycle, Inc., the largest consolidator of the retail coin laundromat industry in the U.S., where he was responsible for coordination and execution of public and private financings, investment banking relationships, investor relations and SEC reporting.
Prior positions included over 10 years of investment banking experience, including Vice President in the Fixed Income Division for Donaldson, Lufkin & Jenrette, Inc., handling new business and execution of corporate debt and equity financings; Associate in the Investment Banking Division at Paine Webber Incorporated; and Financial Analyst in the Corporate Finance Department at Drexel Burnham Lambert Inc.
"Jim brings a wealth of experience and insight to the CFO role at traffic.com," said Jannetta. "He's a great addition to our growing team of professionals who are managing our national roll out."
Puckett commented: "I am excited to be part of a company that intends to dominate the category of traffic information and distribution. And I look forward to both the challenges and rewards associated with mapping the financial blueprint of traffic.com's growth and success."
About traffic.com
traffic.com (www.traffic.com) is focused on being the market leader for traffic and logistics information services. It collects data through its own proprietary collection network and aggregates data from available resources resulting in real-time information concerning conditions on highways, airports and ports in the United States.
Its traffic information is unique and proprietary with such high-value features as actual travel times between two points in a city and comparisons to historical conditions to quantify delays for routing organization. Data is provided to end users in business (logistics and fleet services), government agencies (such as DOT's) and the traveling public via numerous communications platforms such as the Internet, wireless devices, in-vehicle navigation units and the broadcast media.
traffic.com's investors include Internet Capital Group , an Internet holding company actively engaged in business-to-business e-commerce through a network of partner companies; TL Ventures, which focuses on information technology, communications and healthcare companies; Bessemer Venture Partners, which provides investment and assistance in building innovative high-growth companies; and Pennsylvania Early Stage Partners, a venture fund affiliated with Safeguard Scientifics, Inc. , a holding company focused on Internet-related businesses.