GLOBAL IP SOLUTIONS ANNOUNCE APPOINTMENT OF SEASONED CHIEF FINANCIAL OFFICER, WILLIAM SCHARNINGHAUSEN
SAN FRANCISCO — February 5, 2007 — Global IP Solutions (GIPS), today announced the appointment of William M. Scharninghausen to the position of Chief Financial Officer for the company. Scharninghausen will oversee all aspects of financial management, control, reporting, planning, tax and investor relations for GIPS.
“We are excited about Bill's addition to the company. It is our goal to mature the company senior management, and Bill brings a wealth of skill and experience to the team”, said Gary Hermansen, President and CEO, GIPS.
Scharninghausen brings nearly thirty years of financial executive experience and most recently served as CFO at Teachscape, a professional development services company for the education market. Prior to that he served at Vialta, DIVA Systems and StarSight Telecast where he was part of the team that led the company through its IPO and later on, merger with Gemstar-TV Guide. He will report directly to Gary Hermansen.
"I am delighted to join GIPS and its talented management team", said William Scharninghausen. "With the expansion and enhancement of the company’s technology, I am excited to help lead GIPS during this next round of growth as a leader in multimedia technologies for real-time communications”.
Scharninghausen is a certified public accountant and has a bachelor’s degree in Business and Finance from the California Polytechnic State University.
Former Chief Financial Officer, Edward M. Abbati, has accepted the position of Executive Vice-President of Sales and Operations. “Edward has helped direct GIPS to be a successful company over the last 6 years, which gives him unprecedented knowledge about the industry and the skills to drive and maximize our market opportunities”, said Hermansen. Abbati will continue to report to Gary Hermansen.