Austin, TX--December 19, 1996--In order to improve the company's prospects for profitability, SunRiver Corp. (Austin, TX) recently initiated a corporate restructuring program. As a major step in this initiative, the company has appointed Wayne Schroeder, CPA, CFO of SunRiver Corp. and has appointed key personnel to oversee the operations of three newly created divisions of its wholly-owned Boundless Technologies Inc. subsidiary.
Schroeder has served as both a consultant and Controller of SunRiver Corp. since July 1995 and has more than 25 years public accounting and finance experience. Prior to joining SunRiver he was the COO, Director, and CFO for Arrhythmia Research Technology Inc., a marketer of computerized medical instruments. From 1981-1987, Schroeder served in several senior financial management roles with Intermedics Inc., including vice president of finance and administration for the company's wholly-owned CarboMedics Inc. subsidiary and Controller of Intermedics and its subsidiaries.
As part of the company's overall objective to accelerate its growth in the network centric computing marketplace, SunRiver recently organized three new divisions at its wholly-owned Boundless Technologies Inc. subsidiary. The company's New Technology Division is responsible for advancing SunRiver's network computer technologies, and developing and acquiring new products and technologies to shorten the time-to-market for SunRiver customers. In addition, the company has organized Boundless Global Distribution, responsible for the sales, marketing, and distribution of all current and future Boundless products. As previously announced, Thomas Upton has been appointed president of this new division. Upton has over 20 years experience in the technology industry, including senior management sales, marketing, and services positions with NCR, formerly AT&T GIS, Applied Digital Data Systems Inc. and SunRiver.
The third division organized to advance SunRiver's position in the network-centric computing marketplace is Boundless Operations, responsible for overseeing the manufacturing, sustaining engineering, and service operations of Boundless Technologies. Anthony Giovaniello has been named president of this division. Giovaniello previously served as vice president and general manager of Boundless Technologies. He has over 20 years experience in product marketing, planning, and finance in the technology industry including nine years with Boundless Technologies. Giovaniello will also oversee the management of major OEM accounts including AT&T, NCR, and Digital.
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