SOURCE: Crossroads Systems

Crossroads Systems

November 14, 2011 08:00 ET

Crossroads Systems Appoints Steven Ledger as Chairman of the Board of Directors

AUSTIN, TX--(Marketwire - Nov 14, 2011) - Crossroads Systems, Inc.'s (NASDAQ: CRDS) board of directors has appointed board member, Steven Ledger, as its new chairman effective today.

Ledger replaces Don Pearce, who will remain a member of the board. Due to management's need to focus on the upcoming launch of new products and the overall growth of the company, the dynamics of the board were shifted to help prioritize and balance communication with the investor community.

Ledger joined Crossroads' board of directors in February of 2010. With more than 26 years of experience in the financial services industry, Ledger is the founder and managing partner of Tamalpais Partners, an investor in and advisor to emerging growth companies. He previously was the co-founder and managing partner of eCompanies Venture Group.

Prior to founding eCompanies Venture Group, Ledger served as Managing Partner and Portfolio Manager at San Francisco Sentry Investment Group and Kayne Anderson Investment Management. He began his career at Fidelity Management and Research as an Equity Research Analyst and Portfolio Manager. Ledger is a graduate of the University of Connecticut.

"Since joining our board last year, Steve's extensive investment experience has proven invaluable as he has guided us on capital structure matters and investor communications," said Rob Sims, president and CEO of Crossroads Systems. "As chairman, Steve will further leverage his expertise within the financial community to build quality relationships with institutional investors and analysts, allowing me to focus on strategic business initiatives, such as the upcoming launch of StrongBox, our transformative tape archive solution."

About Crossroads Systems
Crossroads Systems, Inc. (NASDAQ: CRDS), is a global provider of solutions and services that ensure stored data is proactively protected and reliably recovered. Crossroads offers organizations powerful data protection, proactive data security, intelligent storage connectivity, unmatched performance, and significant cost savings. Founded in 1996 and headquartered in Austin, Texas, Crossroads holds more than 100 patents granted and pending and has been honored with numerous industry awards for innovation in data protection and storage. Visit

Important Cautions Regarding Forward-Looking Statements
This press release includes forward-looking statements that relate to the business and future events or future performance of Crossroads Systems, Inc. and involve known and unknown risks, uncertainties and other factors that may cause its actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," "could," and similar expressions or phrases identify forward-looking statements. Forward-looking statements include, but are not limited to, statements about Crossroads Systems' ability to implement its business strategy, including the transition from a hardware storage company to a software solutions and services provider, its ability to expand its distribution channels, its ability to maintain or broaden relationships with existing distribution channels and strategic alliances and develop new industry relationships, the performance of third parties in its distribution channels and of its strategic alliances, uncertainties relating to product development and commercialization, the ability to obtain, maintain or protect patent and other proprietary intellectual property rights, technological change in its industry, market acceptance of its products and services, future capital requirements, regulatory actions or delays, competition in general and other factors that may cause actual results to be materially different from those described herein. Forward-looking statements in this press release are based on management's beliefs and opinions at the time the statements are made. Crossroads Systems does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.

©2011 Crossroads Systems, Inc. Crossroads and Crossroads Systems are registered trademarks of Crossroads Systems, Inc. All trademarks are the property of their respective owners. All specifications are subject to change without notice.

Contact Information

  • Company Contact:
    Jennifer Crane
    Crossroads Systems
    Email Contact
    512.928.6897 or 800.643.7148

    Press Contact:
    Matthew Zintel
    Zintel Public Relations
    Email Contact

    Investor Contact:
    Scott Liolios or Matt Glover
    Liolios Group
    Email Contact