SOURCE: Cornerstone OnDemand

May 26, 2005 09:44 ET

Cornerstone OnDemand Names Jon Hanson Vice President of Sales and Frank Ricciardi Director of Account Management

Industry Veterans Bring Extensive Experience to Rapidly Growing Human Capital Management Solutions Provider

SANTA MONICA, CA -- (MARKET WIRE) -- May 26, 2005 -- Cornerstone OnDemand, Inc., the leading provider of on-demand software for human capital management, today announced the addition of Jon Hanson, Vice President of Sales, and Frank Ricciardi, Director of Account Management. Hanson will drive an aggressive sales and marketing effort while Ricciardi will lead the company to a new level of account management.

"As Cornerstone OnDemand moves to meet the exploding demands of organizations seeking to maximize return on their human capital assets, Hanson and Ricciardi contribute invaluable industry experience as well as proven results," said Adam Miller, President and CEO, Cornerstone OnDemand. "Scalability of our sales and account management teams is critical to meet the rapidly growing demand for our services. Hanson and Ricciardi will play key roles in maximizing our success."

With over 25 years of strategic sales management experience in the technology sector, Jon Hanson will lead the Cornerstone OnDemand sales team within North America. He is chartered with creating a disciplined sales methodology to increase revenue and deliver greater value to new and existing customers, an objective he has excelled at in previous roles. His prior experience includes time as Regional Vice President of Sales for PeopleSoft, Inc., where he managed an $85 million business unit. In addition, Hanson served as Vice President of Sales for Apriso Corporation, a privately held manufacturing execution and labor management solution provider, as well as related positions with Kronos, Inc. Hanson's previous successes include achieving a 300% sales pipeline boost in six months, tripling the average sale size, and improving the close ratio from 30% to 70%.

"I am delighted to join Cornerstone OnDemands's executive team, and look forward to working with the leading global provider of real-time Human Capital Management solutions," said Jon Hanson, Vice President of Sales, Cornerstone OnDemand. "I am confident in our ability to achieve immediate as well as sustained sales growth as we position the company to compete vigorously in the growing market for a more knowledgeable, more motivated, and more performance-driven workforce."

Frank Ricciardi comes to Cornerstone OnDemand with over 15 years of business consulting and industry-related account management experience. His focus at Cornerstone OnDemand includes extending the current global client base and the creating a truly customer-centric culture. As a former Regional Vice President & Senior Principal at Convergys (formerly DigitalThink), Ricciardi expanded the business by more than $27 million, which included the largest services deal in the company's history. In addition, Ricciardi managed over $70 million in strategic customer relationships, including the single largest contract in the industry.

Ricciardi led the organizational design process, which transformed DigitalThink into an industry-leading professional services organization. He will leverage his experience to further develop Cornerstone OnDemand's world-class global services organization.

About Cornerstone OnDemand, Inc.

Cornerstone OnDemand, formerly CyberU, is the leading provider of on-demand enterprise software for developing, measuring and managing the corporate workforce. The Cornerstone OnDemand human capital management suite provides fully integrated solutions for learning management, employee performance management, and succession planning along with access to over 10,000 online training titles and integrated tools for compliance and analytics. Cornerstone OnDemand's software is used by industry leaders such as Aon, Honda, Pearson, Saab, Smith Barney and Washington Mutual to achieve organizational excellence. For more information, please visit www.cornerstoneondemand.com.

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