Finjan Holdings Appoints Three New Independent Directors and Expands Board of Directors
Glenn Daniel, former Managing Partner at Houlihan Lokey; Harry Kellogg, former Vice Chairman of Silicon Valley Bank; Michael Southworth, Chief Financial Officer at Contact Solutions LLC
NEW YORK, April 8, 2014 /PRNewswire/ — Finjan Holdings, Inc. (OTC MKT: FNJN) (the “Company”) today announced the appointments of three new members to its Board of Directors. They are Glenn Daniel, former Managing Partner at the global investment bank Houlihan Lokey; Harry Kellogg, former Vice Chairman of diversified financial services provider Silicon Valley Bank; and Michael Southworth, Chief Financial Officer at Contact Solutions LLC, a leading provider of cloud-based and mobile customer self-service solutions.
“Glenn, Harry and Michael are all accomplished business leaders who bring a wealth of both financial expertise and management insight to our Board,” said Finjan’s President, Phil Hartstein. “Their financial acumen will be essential to supporting Finjan growth as we continue executing on our strategic plans to benefit from today’s emerging cybersecurity market. We look forward to their perspectives and contributions, and are delighted to welcome them to the Board.”
The appointments of Messrs. Daniel, Kellogg and Southworth increase the number of directors comprising the Board from five to eight, effective April 4, 2014. All three new Board members will serve as independent directors, and Messrs. Daniel and Southworth will serve as members of the Company’s Audit Committee in addition to other Board duties. Mr. Daniel will also serve as a member of the Company’s Compensation Committee.
The Company also announced that the Board of Directors has appointed Eric Benhamou as Chairman of the Board’s Audit Committee, a current Director who served in a similar capacity as a Director of the Company’s predecessor, Finjan Inc., since 2006. The Board of Directors appointed Michael Eisenberg, a current Director, as Chairman of the Board’s Compensation Committee. Daniel Chinn, a current Director, remains Chairman of the Board’s Nominating and Corporate Governance Committee.
Mr. Daniel was formerly a Managing Director at the global investment bank Houlihan Lokey, where he was head of Houlihan Lokey’s San Francisco office for 15 of his 25 years with the firm. During this time, he advised Boards of Directors and Independent Committees of technology companies on fairness, valuation, and other financial matters in M&A and securities transactions. Mr. Daniel has deep experience with litigation in financial disputes, having testified as a financial expert in more than 25 cases in State, Federal, and Bankruptcy Court. He previously held positions with Moody’s Investors Service and Lehman Brothers. Mr. Daniel holds a Bachelor of Arts in German & Economics and a Master of Science in Finance from the University of Wisconsin, Madison. He is a Chartered Financial Analyst (CFA) and a member of the CFA Institute.
Mr. Kellogg was previously Vice Chairman of the Board of Silicon Valley Bank and Head of Strategic Relationships for SVB Financial Group. He was responsible for overseeing SVB Financial Group’s venture capital, private equity, private banking and premium wine activities. Kellogg joined Silicon Valley Bank in 1986 as senior vice president of the Technology Division. Prior to joining Silicon Valley Bank, he was the group manager of Corporate Banking at Bank of the West for five years and started that bank’s technology lending group. He was also with Wells Fargo Bank for 13 years, including four years in the Wells Fargo Special Industries Group, a high-tech lending unit within Wells Fargo Bank. Mr. Kellogg is and has been actively involved in many civic and industry organizations, serving on many of their boards and advisory boards. These include: TechNet, Joint Venture: Silicon Valley Network, Financial Executives International, Stanford Institute for Economic Policy Research, The Computer History Museum, California/Israel Chamber of Commerce, Nollenberger Capital Partners, The Tuck Center for Private Equity and Entrepreneurship, Pacific Community Ventures and Grameen Bank. Mr. Kellogg is an emeritus board member of the Technology Museum of Innovation. In 2001, he was named one of Upside Magazine’s “100 People Who Changed Our World.” Mr. Kellogg holds a Bachelor of Science Degree in Business Administration & Finance from San Jose State University.
Mr. Southworth is the Chief Financial Officer at Contact Solutions LLC, a leading provider of cloud-based and mobile customer self-service solutions. He led Contact Solutions’ business transformation, including strategy planning, risk mitigation, executive recruitment and change management. For over two decades, Mr. Southworth has directed companies from the start-up phase through major periods of growth, and has been behind over $100 million in private equity and debt financing. Previously, Mr. Southworth was Senior Vice President of Global Wireless Solutions at Corning. Prior to Corning, he held senior financial roles at a number of technology companies including MobileAccess Networks, Lucent Technologies, and Chromatis. Mr. Southworth holds a Bachelor of Science, Biology, Business concentration, from the University of California at Berkeley. He is a Certified Public Accountant in the State of California.
Eric Benhamou is currently Chairman and CEO of Benhamou Global Ventures, LLC, an investment firm that invests and plays an active role in innovative high tech firms throughout the world. Formerly, he was Chairman of the Board of 3Com Corporation. He also served as Chief Executive Officer of Palm, Inc. from October 2001 until October 2003 and Chairman until October 2007, and was Chief Executive Officer of 3Com from 1990 until the end of 2000. Mr. Benhamou co-founded Bridge Communications, an early networking pioneer, and was Vice President of Engineering until its merger with 3Com in 1987. He holds a Master of Science Degree from Stanford University’s School of Engineering and a Diplome d’Ingenieur and a Doctorate from Ecole Nationale Superieure d’Arts et Metiers, Paris.
Michael Eisenberg has been a general partner at Benchmark Capital Partners, an early stage venture capital firm focusing on social, mobile, local and cloud companies that disrupt various industries, since 2005. Mr. Eisenberg has served, and continues to serve, on the board of directors of many of Benchmark’s portfolio companies in the technology industry. In July 2013, Mr. Eisenberg co-founded, and currently serves as a manager of, Aleph, a venture capital firm focused on serving Israeli entrepreneurs. Mr. Eisenberg earned a B.A. from Yeshiva University.
With these key appointments, Finjan continues to round out its Board of Directors in support of the Company’s planned growth strategy. Recognized internationally as a pioneer and leader in web and network security, Finjan’s decades-long investment in innovation is captured in its patent portfolio, centered around software and hardware technologies capable of proactively detecting previously unknown and emerging threats on a real-time, behavior-based basis. Finjan has successfully licensed its patents and technology to several major software and technology companies around the world.
For Additional Information: www.finjan.com
Through our subsidiary, Finjan, Inc., we own a portfolio of patents, related to software that proactively detects malicious code and thereby protects end users from identity and data theft, spyware, malware, phishing, trojans and other online threats. Finjan’s mission is to invest in innovation and encourage the development of core intellectual property. Founded in 1997, Finjan developed and patented technology that is capable of detecting previously unknown and emerging threats on a real-time, behavior-based, basis, in contrast to signature-based methods of intercepting only known threats to computers, which were standard in the online security industry during the 1990s.
Cautionary Note Regarding Forward-Looking Statements:
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include statements regarding our expectations, intentions, beliefs and projections about our future results, performance, prospects and opportunities. These statements can be identified by the fact that they do not relate strictly to historical or current facts or by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “potential,” “should,” “will,” “will be,” “would,” the negative of these terms and similar expressions, but this is not an exclusive way of identifying such statements. Readers are cautioned that forward-looking statements are not guarantees of future performance. Our actual results, performance and achievements may differ materially from those expressed in, or implied by, the forward-looking statements contained in this press release as a result of various risks, uncertainties and other factors. Important factors that could cause our actual results to differ materially from our expectations include, without limitation, our ability to execute our business plan, the outcome of pending or future enforcement actions, our ability to expand our technology portfolio, the enforceability of our patents, the continued use of our technology in the market, the development of a liquid trading market for our securities and other factors described under Item 1A, “Risk Factors,” as set forth in the Company’s Annual Report on form 10-K filed with the SEC on March 14, 2014, and any subsequent quarterly or current reports.
The Company will continue to file annual, quarterly and current reports, proxy statements and other information with the SEC. Forward-looking statements speak only as of the dates specified in such filings or releases. Except as expressly required under federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not undertake any obligation to update any forward-looking statements to reflect events or circumstances arising after any such date, whether as a result of new information or future events or otherwise. You should not place undue reliance on the forward-looking statements included in this release or that may be made elsewhere from time to time by us, or on our behalf. All forward-looking statements attributable to us are expressly qualified by these cautionary statements.
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