NetSol Chairman to Oversee
Growth Initiative as New CEO
Calabasas,
CA: NetSol Technologies, Inc. (NASDAQ:NTWK), a US-based,
multinational provider of enterprise software and services
for equipment financing, has announced a strategic growth
initiative for senior management to effectively manage and
capitalize on the company's recent expansion into new and
existing markets around the world.
Effective immediately, all of NetSol's business interests
will be divided into three global regions that will govern
the company's strategic growth initiative. Also effective
immediately, Najeeb U. Ghauri, NetSol Chairman of the Board,
will add to his duties as Chairman the responsibilities
of chief executive officer to oversee the initiative.
"It has been a pleasure to serve as NetSol's CEO over
the past five years," said Naeem Ghauri. "I will
cherish the time and the knowledge that I have made a significant
contribution to the success of NetSsol. I'm excited to take
the reigns as president of the newly defined European Region
and believe the Board's organizational changes have created
an organization sharply focused on growth and profitability."
"Keeping in step with our growth strategy, we have
appointed three senior executives to manage our expanded
global presence, allowing us to take full advantage of our
recent acquisitions and infrastructure enhancements, and
to manage the dramatic increase in our personnel,"
said newly appointed CEO Najeeb Ghauri.
"The NetSol Board and senior management recognized
the need for an approach where management will be tasked
with direct ownership for each of the defined regions to
ensure improved results and financial efficiency,"
commented Najeeb Ghauri. "The assignment of current
management personnel will streamline operations and solidify
the inclusion of the company's recent US acquisition under
one corporate umbrella.
"We appreciate Naeem Ghauri's dedication and the tremendous
progress made within the company under his guidance as the
company's chief executive officer," said Najeeb Ghauri.
"As president of the newly formed European Region,
Naeem will now have the time to focus his energy entirely
on expanding NetSol's footprint within Europe to capture
the significant growth potential in the equipment finance
industry."
"NetSol can now leverage the industry expertise of
its management team to control assets and successfully address
the company's expanded sales force, IT integration, and
new global governance requirements, while maintaining its
dedication to return on investment and growth," said
Najeeb Ghauri.
The three newly defined global regions and their respective
management appointments include:
The North American Region – Appointed as President
of the region: John McCue.
(CEO of recently acquired McCue Systems)
The European Region – Appointed as President of the
region: Naeem Ghauri.
(former CEO of NetSol Technologies Inc.)
The Asia Pacific Region – Appointed as President of
the region: Salim Ghauri.
(former President NetSol Technologies Inc.)
Najeeb Ghauri
Founder, Chairman and CEO
Najeeb Ghauri was elected Chairman of the Board of Directors
of NetSol Technologies, Inc., in February 2003. He was also
the interim CFO from June 2002 to July 2005. Mr. Ghauri
was the founder of the parent company, NetSol Technologies,
Inc. (formerly Mirage Holdings, Inc.). He became the President
and CEO of NetSol Technologies, Inc. in April 1997, and
held that title until August 2001. Mr. Ghauri was very instrumental
in the completion of the IPO in 1998 and responsible for
restructuring the company's business model into that of
an IT company in 1997-1998. He also spearheaded the successful
listing of NetSol to NASDAQ Small Cap in December 1999;
and on September 13, 2006, Mr. Ghauri presided over the
closing bell for NetSol at NASDAQ Exchange.
Prior to launching NetSol in the U.S., Mr. Ghauri had over
15 years of combined marketing and management experience
with Fortune 500 companies such as Unilever and Atlantic
Richfield Corporation (ARCO). He received his bachelor's
degree from Eastern Illinois University, and earned an MBA
in marketing from the Drucker School of Management at The
Claremont Graduate School. In 2001, Mr. Ghauri was a nominee
for the Ernst & Young 'Entrepreneur of the Year' award
in California. Mr. Ghauri is a founding member of USPBC
(US-Pakistan American Business Council) and was elected
as its Vice Chairman in spring 0f 2006. Mr. Ghauri has lived
in the US since 1977 and became a US citizen in 1990.
About NetSol Technologies, Inc.
NetSol Technologies is a U.S.-based multinational provider
of enterprise software and services for equipment finance.
Headquartered in Calabasas, CA, NetSol Technologies, Inc.
operates on a global basis with locations in the U.S., Europe,
East Asia and Asia Pacific, including: London, Los Angeles,
San Francisco, Sydney, Beijing, Toronto, and Lahore, Pakistan.
The NetSol family of products includes: the LeaseSoft Contract
Management System, LeaseSoft Credit Application Processing,
LeaseSoft Wholesale Finance System, LeaseSoft Premium Finance
System, LeaseSoft EPO system, and the LeasePak system. NetSol
clients include: Motorola, CitiGroup, BMW, Toyota, Yamaha,
Quest Communications, and Investec. NetSol's largest customer:
DaimlerChrysler Services, a division of DaimlerChrysler,
the world's fifth-largest carmaker, ranks NetSol as a preferred
vendor in 40-plus countries.
NetSol Technologies helps its clients identify, evaluate
and implement technology solutions to meet their strategic
business challenges and maximize their bottom line. By utilizing
its worldwide resources, NetSol Technologies delivers high-quality,
cost-effective equipment finance portfolio management solutions
and IT services ranging from consulting and application
development to systems integration and outsourcing. NetSol
Technologies' commitment to quality is demonstrated by its
achievement of both ISO 9001 and SEI (Software Engineering
Institute) CMMl (Capability Maturity Model) Level 5 assessment.
For more information, visit NetSol Technologies' web site
at www.netsoltek.com.
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