San Francisco, May 13, 2003 - Advent Software, Inc. (NASDAQ: ADVS) today announced that Peter Caswell, President and CEO, has resigned from the company to pursue other interests, effective immediately. Stephanie DiMarco, Chairman and founder, will assume his responsibilities until a replacement has been found. Advent’s Board will commence a search for a new President and CEO.
“It has been a privilege working with Peter over the last ten years, as Advent has become the market leading provider of software to investment professionals,” said DiMarco. “Peter’s contributions have been outstanding, and he leaves an extremely capable management team in place to meet the challenges of the next phase of Advent’s growth. We wish Peter well with his future endeavors.”
Caswell joined Advent in late 1993 and held a variety of sales and marketing roles until he was appointed President and COO in April 1997. He was given the additional responsibilities of CEO in November 1999. Advent’s revenue increased ten-fold during Caswell’s tenure at the company.
“My years at Advent have been enormously rewarding,” said Caswell. “I am extremely proud of the team’s accomplishments over the years, and to have been a part of that team. I believe the company’s future prospects are as bright today as at any time in the past.”
Caswell will be stepping down from Advent’s board at the company’s Annual Stockholders Meeting, which takes place tomorrow, May 14th, 2003.
Graham Smith - Chief Financial Officer
301 Brannan Street
San Francisco CA 94107