SOURCE: Firepond, Inc.

May 19, 2008 09:00 ET

Firepond Announces New Management and Board Teams

MANKATO, MN--(Marketwire - May 19, 2008) - Firepond, Inc. (OTCBB: FPND) announced today the company's new management and board teams.

The senior management team for Firepond now consists of the following members:

Brad Sheafe - President: Mr. Sheafe joins Firepond from the Federal Bureau of Investigation where he was most recently the liaison for the FBI to the National Center for Supercomputing Applications.

Craig Christiansen - Vice President of Technology and Implementation: Mr. Christiansen has been promoted from his previous role as head of research and development. He has more than 22 years of service with Firepond.

Jim Scheper - Vice President of Sales: Mr. Scheper has over four years of service with Firepond in various sales and marketing capacities. Mr. Scheper's promotion reflects his success at Firepond. He has been instrumental in securing Firepond's premier client base and building key strategic alliances.

Bill Stelt - Vice President and Chief Financial Officer: Mr. Stelt has been promoted to the CFO role from his previous role as controller for the company. He has served as Controller for Firepond since April 2006. He joined the company in November 2005 as a consultant.

Stephen Peary - Vice President and General Counsel: Mr. Peary has assumed his new role as general counsel for the company and will also be tasked with monitoring the company's additional investments. Mr. Peary has served since 2005 in various senior capacities with Firepond, including most recently as Chief Financial Officer. He began consulting to the company in October 2004.

Firepond also introduced its new Board of Directors with experience in all facets of operating and growing small technology companies. The new board consists of:

Audrey Spangenberg: Ms. Spangenberg, Chairperson of the Board of Directors, is the senior executive and principal owner of Firepond's largest shareholder, FP Tech Holdings, LLC. Ms. Spangenberg is the founder and senior executive of a private investment firm based in Dallas, Texas, which has successfully led numerous recapitalizations and exits of technology firms.

Frank Knuettel: Mr. Knuettel is the Chief Financial Officer of a Colorado-based Software-as-a-Service commerce company with experience in various senior executive roles with technology companies. He has extensive experience in the capital markets in raising public and private equity and debt and has completed a number of successful restructurings and sales of technology firms. Mr. Knuettel received his BA with honors in Economics from Tufts University and holds an MBA in Finance and Entrepreneurial Management from The Wharton School at the University of Pennsylvania.

Scott Kline: Mr. Kline is a graduate of Yale University (B.A., summa cum laude, 1985) and of Harvard Law School (J.D., cum laude, 1988). He is currently a founding member of Caprock International, LLC, an international financial company based in Dallas, Texas and London, England. Mr. Kline has twenty years experience as an executive officer and legal advisor to corporations throughout the United States. He also manages a significant law practice specializing in intellectual property and corporate transactions.

About Firepond

Firepond (OTCBB: FPND) is the leading provider of multi-tenant, on-demand Configure-Price-Quote™ software that automates and simplifies product pricing and configuration for companies and helps these enterprises improve order accuracy while reducing their cost of sales. Firepond's sales solutions help companies to optimize their sales processes whether their need is to solve complex product or pricing configuration, create product catalogs or provide an interactive selling system and dramatically improve response time. Firepond solutions provide a rapid ROI through improved order accuracy (100% of submitted orders have accurate specifications and pricing), improved proposal generation time and high user acceptance. For additional information about Firepond, visit www.firepond.com or call 1-866-UCONFIG (826-6344).

Forward-Looking Statement

This press release may contain forward-looking statements that involve risks and uncertainties, including statements regarding our business strategy and development plans, plans for entering into new businesses, anticipated sources and uses of funds and other statements regarding our plans, objectives, expectations and intentions that are not historical facts. Because these forward-looking statements involve risks and uncertainties, actual results could differ materially from those discussed in this press release. These risks and uncertainties are described in greater detail in the reports that we file with the Securities and Exchange Commission. Our actual results, performance or achievements may vary materially from those expressed or implied in any forward-looking statements. All forward-looking statements reflect our beliefs and expectations as of the date of this press release and should not be relied upon as representing our views as of any subsequent date. While we may elect to update these forward-looking statements publicly at some point in the future, we specifically disclaim any obligation to do so, whether as a result of new information, future events or otherwise.

Contact Information

  • Contact:
    Firepond
    1-866-UCONFIG (826-6344)