Lawrence A. Bossidy Joins Aatlas Commerce Board of Directors
4 April 2000
Lawrence A. Bossidy Joins Aatlas Commerce Board of Directors
Former Honeywell Chairman Lends Experience And
Vision to Internet Marketplace Enabler
MALVERN, Pa., April 4 Aatlas Commerce, a leading enabler
of business-to-business (B2B) Internet Marketplaces, today announced that
Lawrence A. Bossidy has joined the company's board of directors. Mr. Bossidy,
former chairman of Honeywell, International Inc. the $23.7 billion
manufacturer of aerospace and automotive equipment, pharmaceuticals, fibers
and plastics, brings unparalleled leadership and experience directing high-
growth, high-value organizations. The appointment of Mr. Bossidy, one of
America's leading corporate statesman, is one of several significant moves by
Aatlas Commerce to assemble a seasoned, high-caliber management team capable
of guiding the company's growth.
Mr. Bossidy accepted the Board position with Aatlas Commerce because he
recognized that the company's unique vision and ability to execute on that
vision offer Internet Market Makers an unprecedented opportunity to transform
business-to-business commerce. Unlike enterprise based e-commerce
applications, Aatlas Internet Marketplace Software was specifically designed
to meet the unique requirements of a metaprise(TM) business model. Because it
supports outwardly focused business processes; direct, spot and indirect
procurement; and multi-level supply chain operations; Internet Marketplace
Software is the premier e-commerce suite for managing relationships,
interactions, processes and transactions among marketplace participants.
Aatlas software allows participants to conduct business internationally, to
function simultaneously in both buyer and seller roles and to complete the
full transaction lifecycle -- from sourcing to settlement -- entirely within
the marketplace.
"Creating a successful Internet Marketplace requires much more than first
mover advantage," said Bossidy. "While there can be no doubt that speed is a
critical factor, over the long term, success will be determined by the
efficiencies and cost savings that occur throughout the supply chain. Enabling
process improvement is where Aatlas Commerce stands out," Bossidy continued.
"Aatlas is at the forefront of a rapidly evolving business dynamic. The
opportunity to be a part of this change while helping to direct an emerging
company's growth was one I couldn't pass up."
Prior to negotiating a successful merger with Honeywell in 1999,
Mr. Bossidy served as chief executive officer of AlliedSignal, Inc. During
his eight-year tenure, the company experienced accelerated growth and
outstanding revenue performance -- with twenty-six straight quarters of
double-digit earnings increases and net stock returns in excess of 500%.
Before joining AlliedSignal, Mr. Bossidy was vice chairman and executive
officer of General Electric Company. In addition to Honeywell and Aatlas
Commerce, he also participates on the boards of Merck & Co, Champion
International Corporation, J.P. Morgan & Co. Inc, The Business Council, and
The Business Roundtable. Mr. Bossidy was selected 1998 CEO of the year in
annual voting among peers sponsored by Chief Executive magazine.
"We are incredibly fortunate to have Larry as a member of our Board," said
Dan Tiernan, Aatlas' co-founder and president. "As Aatlas grows, his
experience organizing and transforming businesses will be invaluable. Our
vision is to enable the success of Internet Marketplaces," Tiernan continued,
"which means not only providing software and support, but also helping our
customers transform business-to business commerce. Larry's guidance and strong
support for this vision will help ensure our success."
Mr. Bossidy's appointment to the Aatlas Commerce Board of Directors
closely follows key additions to the company's executive management team.
Recent appointments have included CEO Gerry O'Connell, formerly chief
executive of i-Many and Adage; CFO John Milana, formerly chief financial
officer of SAP Americas; and Jack Barr, senior vice-president of business
development, formerly Senior VP of Sales Operations for SAP.
About Aatlas Commerce
Aatlas Commerce is a leading enabler of Internet Marketplaces, delivering
the premier business-to-business (B2B) e-commerce applications for managing
relationships, interactions, processes and transactions among marketplace
participants. Aatlas Internet Marketplace Software is specifically designed to
meet the unique needs of Internet Market Makers, who require specialized e-
commerce software capable of managing high value business relationships among
marketplace participants -- including all elements of a transaction, from
sourcing to settlement. Supporting the innovative business models of Internet
Market Makers is the sole focus of Aatlas. Founded in January 1998, Aatlas
Commerce is headquartered in Malvern, PA. For additional information, please
call 610.240.0600, or visit the web site at http://www.aatlas.com.