SOURCE: Rainmaker Systems, Inc.

Rainmaker Systems, Inc.

October 07, 2013 09:00 ET

Rainmaker Systems Names Brad Peppard as Executive Vice President and Chief Financial Officer

Additional Changes to the Board Announced as CEO Don Massaro Becomes Chairman and Eric Salzman Joins as Independent Director

CAMPBELL, CA--(Marketwired - Oct 7, 2013) -  Rainmaker Systems, Inc. (OTCQX: RMKR), a provider of B2B e-Commerce solutions and services, today announced the appointment of Brad Peppard as executive vice president and chief financial officer (CFO). As the former chairman of the Board of Directors (Board), and head of the Company's audit committee for the last several years, Peppard is uniquely positioned to provide a broad range of financial expertise and strategic insight to accelerate Rainmaker Systems' evolution into a thriving B2B e-commerce solutions provider.

Peppard brings a proven track record of driving profitability and growth for numerous companies, including holding various senior-level finance and treasury positions at leading companies such as Trader Joe's, CBS/Fox Studios, and In addition, Peppard has extensive experience developing and launching real-time accounting platforms, having led the team responsible for one of the first multi-platform microcomputer tax preparation programs, Tax Advantage. His long tenure with Rainmaker Systems, and his understanding of the B2B e-commerce marketplace, positions him well to guide the company during its next phase of accelerated growth. 

In conjunction with Peppard's appointment to the position of CFO, CEO Don Massaro was appointed chairman of the Board, a role that he has held at other organizations. As a founder and CEO of six Silicon Valley technology companies, Massaro has considerable experience managing overall business operations and driving company strategies.

Furthermore, Eric Salzman, who recently served as a Board advisor, has been elected to Rainmaker Systems' Board to replace Gary Briggs, who resigned his post due to increased time commitments as the new chief marketing officer at Facebook. Eric brings nearly twenty years of finance and investment experience, including extensive board experience with several technology related companies. He currently serves on the Boards of 8x8, Inc., Coloredge, Inc. and SynCardia Systems, Inc. and is affiliated with Monarch Capital Group, LLC.

"I have had the opportunity to work very closely with Brad over the last nine months, and we share a common view of the market opportunity and growth potential for Rainmaker Systems," said Don Massaro. "Brad's significant experience in driving financial growth for a variety of multi-billion dollar companies, coupled with his deep understanding of technology and services, make him an excellent choice for our new CFO as we address demand in our services business and work to drive growth in our product sales. We are also excited to have Eric join as a Board member where he will continue to provide solid guidance on our future growth strategies. I would also like to thank Mallorie Burak for leading the transition of the finance function from our Austin facility to our Campbell headquarters, and for further enhancing our financial processes and controls."

About Rainmaker Systems, Inc.
Rainmaker Systems is a B2B e-Commerce company that helps organizations of all sizes, ranging from Fortune 500 enterprises to small-to-medium-sized businesses, create new revenue streams from segments of their customer base that extend beyond traditional sales team capabilities. With its unique approach, Rainmaker Systems delivers proprietary cloud-based e-Commerce technology, global and localized sales-assist agents, and best-practice sales and marketing expertise, allowing customers to discover and monetize untapped revenue opportunities.

Rainmaker trades in the U.S. on OTCQX under the symbol "RMKR."

Safe Harbor Statement
This press release may contain forward-looking statements regarding future events. These forward-looking statements are based on information available to Rainmaker as of this date and the Company assumes no obligation to update any such forward-looking statements. These statements are not guarantees of future performance, and actual results could differ materially from current expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are client concentration, as the company depends on a small number of clients for a significant percentage of its revenue; the possibility of the discontinuation and/or realignment of some client relationships; general market conditions, the current difficult macro-economic environment and its impact on Rainmaker's business, as clients are reducing their overall marketing spending and their customers are reducing their purchase of service contracts; market acceptance of our service programs and pricing options; the financial condition of our clients' businesses and other factors detailed the company's filings with the Securities and Exchange Commission (SEC), including our filings on forms 10-K and 10-Q.

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