RESTON, Va., Aug. 29, 2007 (PRIME NEWSWIRE) -- Red Branch Technologies, Inc (Pink Sheets:RBTI), a comprehensive online travel company focused on addressing the unmet needs of the business traveler, reports that the company has appointed new management and new directors.
Doug Foran -- Named Chief Executive Officer. Over his career Foran has specialized in building and marketing business-to-business offerings that use high technology to create compelling business advantage. He started his high-tech career in sales and marketing for Calma Corporation, a Silicon Valley company and one of the big-three CAD market founders. At Information Displays Inc. Doug pioneered the electronic technical publishing market and his company dominated its market niche and attained NASDAQ National Market status. Furthermore, he took two document technology products to worldwide markets for Xerox Corporation.
"my/mTravel(r) brings new value to online business travel and it demonstrates the strength of our commitment to the business traveler. It's a very strong first step. We have a strong team, a great market and an outstanding new entry -- RBTI is a great opportunity," stated Foran.
Thomas Murray -- Named Chief Operating Officer. As Founder and CEO of TechTravelers, Inc. (TTi), Thomas managed and directed the company from product concept through development and ultimate asset purchase by Red Branch Technologies. Prior to founding TTi, he served as Sr. Vice President of Technology Sales and Services for the publicly traded CRM company -- Sideware Corporation (SDWS). Before Sideware, he led the technology team at AOL Select, an AOL partner company as Chief Information officer (CIO) and earlier in his career he founded and drove to success two pioneering Internet ventures: Select Vermont -- a groundbreaking e-commerce and state affinity marketing site and Falling Leaf Interactive -- a multi-media development company.
"I am very pleased to join this great team and I look forward to contributing all I can toward fulfilling the Red Branch vision -- creating software and services that makes life easier and more efficient for business travelers and their organizations," said Murray.
Phil Wherry -- Named Chief Technology Officer. Phil enjoys an international reputation as a technology leader for information security and wireless applications. Phil architected the security infrastructure at Concept Five for the first online stock trading system in Europe for Swedebank. He ran IT operations and network development for 40 worldwide locations at Leap Wireless. Many technology companies depend on Phil's judgments regarding "What's next?" He will help answer that for the business traveler.
New RBTI Board Members
R. Paul Gray -- Named Chairman of the Board. Paul sits on the board of several large publicly held companies including United Therapeutics (UTHR) and is a recognized financial expert under the rules of major stock exchanges and earned his stripes as an auditor for Ernst and Young and KPMG. He co-founded Tenth Gate, a public company with holdings in the healthcare space and coaches entrepreneurs through programs at Case Western Reserve and West Virginia Universities. RBTI depends on Paul to guide the corporate structure, capitalization and entrance into public markets.
Scott Ahlsmith -- Named Director. Scott is currently Vice President, Global Technology Solutions for Virtuoso Ltd. (http://www.virtuoso.com/us/Company), the industry's leading leisure travel network. Scott is renowned for providing thought leadership for the travel industry. His first big impact came with the TRAMS back office automation product that has 80% adoption in U.S. travel companies. He serves as Chairman of the Travel Institute, founded Magellan Travel Group, and now plays a critical role at Virtuoso. Industry leaders listen when Scott speaks and he will keep RBTI's value proposition at the industry forefront.
About Red Branch Technologies
Red Branch Technologies, Inc. makes business travel easier, more secure and more responsive for both the hard-charging business traveler and the corporation by meeting travel needs at each point in the travel cycle. The company's innovative my/mTravel(r) and mTravel(r) products automate the business travel process from planning and booking to en route services and support, through post travel reporting and unused ticket redemption. Red Branch's Magellan360, provides agency and net-delivered back office services to independent professional travel marketers. For more information, please visit: www.redbranchtechnologies.com
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future events or revenues depend upon our ability to develop and supply products, which we may not produce today and that may need to meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets