SOURCE: Globoforce

June 27, 2005 09:40 ET

Globoforce Adds Seasoned Leadership to Support New North American Operations

Vice President and General Manager North America and Chief Financial Officer to Enhance Company's Leadership Position in the Incentive Solutions Industry

WESTBOROUGH, MA and DUBLIN, IRELAND -- (MARKET WIRE) -- June 27, 2005 -- Globoforce, the leading provider of worldwide, on-demand incentive solutions for Global 2000 companies, today announced the addition of Deborah Schmidt as vice president and general manager, North America and Steve Cromwell as chief financial officer (CFO). Schmidt and Cromwell's additions will help drive the Company's continued expansion in North America and further solidify its leadership position in the global arena. Today Globoforce also completed its official launch into the US market, with headquarters established in Westborough, Massachusetts (See separate release also dated June 27, Titled "Globoforce Launches North American Headquarters").

"We are pleased to welcome Deborah and Steve to Globoforce. With the demand for incentive and motivation solutions continuing to heat up, their arrival is timed perfectly," said Eric Mosley, CEO, Globoforce. "Deborah's extensive experience in sales and the Human Capital Management market will help us meet the growing demands for incentive solutions in the U.S. and Canada. Likewise, Steve's impressive financial leadership skills will play a vital role in our plans for continued expansion."

Deborah Schmidt brings more than 20 years of experience in sales, pre-sales and general management experience to Globoforce. Prior to joining Globoforce, Schmidt spent ten years at SAP where she rose through the ranks to eventually lead the America's ERP business. Prior to ERP, Schmidt was responsible for SAP's Human Capital Management (HCM) business, leading the business to achieve the number one position in the global marketplace. In 2003, HR.com named Schmidt one of the ten most influential women in the HCM industry. Prior to SAP, Schmidt spent eight years at Automatic Data Processing (ADP).

"I'm very excited to lead Globoforce's North American operation and look forward to growing our marketshare in the U.S.," said Deborah Schmidt, vice president and general manager, North America for Globoforce. "Today's progressive organizations recognize that a satisfied, productive workforce is a key element to success. As a result, companies are aggressively implementing enterprise reward and recognition programs to support the attainment of their overall business goals and objectives. Globoforce enables not only employee recognition programs, but also distribution, sales and customer loyalty incentives programs that help companies achieve lasting organizational success."

Steve Cromwell is a seasoned finance professional with almost 20 years of experience in finance management across a broad range of companies. Prior to joining Globoforce, Cromwell served as vice president of finance for Avaki Corporation, a leader in enterprise information integration software, where he led finance and HR. In this position, he was effective in the negotiation and sale of the company to Sybase. Prior to Avaki, Cromwell was senior director, corporate controller of Allaire Corporation, now Macromedia, a leader in Web application development tools, application servers and content management software. While at Allaire, he was instrumental in managing the financial infrastructure to support the company's growth from a start-up to a public company with revenues approaching $120 million. Cromwell has also served as director, corporate accounting at Interleaf and has held senior positions at Toyota and KPMG.

"Employees are the life-blood of any organization. With this in mind, a growing number of companies are turning to incentive solutions to address the needs of their employees and position themselves for long-term success," said Steve Cromwell, chief financial officer for Globoforce. "Globoforce is a visionary in this space, offering the right mix of world-class services and innovative technology while providing the only truly global choice for rewards and incentives needs. I look forward to working with Globoforce's seasoned executive team and leading it through its next growth phase."

About Globoforce

Founded in 1999, Globoforce is the leading provider of worldwide, on-demand incentive, reward and recognition programs for Global 2000 companies. Globoforce transforms the way enterprises motivate their workforces and sales channels through its dynamic, easy-to-use, on-demand technology platform -- empowering the most successful organizations on all continents. Funded by Atlas, Benchmark Venture Capital and a number of private investors, Globoforce's customers include Reuters, Dow Chemical, Avnet and Safeway. Globoforce, co-headquartered in Westborough, MA, and Dublin, Ireland, was the recipient of the "2004 Top HR Product of the Year Award" from HR Executive Magazine. For more information, visit the company at www.globoforce.com or contact them via email corporate@globoforce.com.

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