Pivot3 Appoints New CFO

Pivot3, a company to consolidate servers and storage in a scale-out application platform, appointed Katy Murray as the company's new CFO. Reporting directly to Pivot3 President and CEO Bob Fernander, Murray will assume worldwide responsibility for the company's financial, legal and manufacturing operations. Murray comes to Pivot3 from Taleo where she served as CFO of the publicly traded software-as-a-service provider.

Murray joined Taleo in 2006 to direct the worldwide financial and legal operations of the company's finance, accounting and legal teams. During her tenure, she oversaw the completion of multiple financial transactions including a $150-million primary offering in November 2010 and an $80-million secondary offering in July 2007. She also played a role in the completion of five acquisitions including a $125-million consolidation acquisition and a $125-million strategic acquisition into an emerging market. Prior to Taleo, she served in similar executive-level roles with EXL Services and i2 Technologies. She has more than 18 years of experience in executive management positions.

"Investors have come to comprehend the strategic value of new storage technologies," Murray said. "I was impressed with the momentum of the growth Pivot3 experienced during a challenging economic time and I look forward to helping the company scale as the economy continues to accelerate."

The appointment of Murray, along with the company's VP of Manufacturing Scott Gardner, is timed with the substantial growth that Pivot3 is experiencing. The company was identified in 2009 as the supplier of IP SANs to the physical security market and has recently launched solutions for the data protection and hosting markets.

"Murray's broad finance experience with multinational companies will be an asset to Pivot3 as we manage growth from existing and new markets," said Bob Fernander, President and CEO, Pivot3. "She offers both a track record managing hyper-growth and the financial integrity that investors respect. Our shareholders will benefit from Murray's experience as we move towards a public offering."
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