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PlaceWare Names New Chairman

In a move designed to strenghen the companys's management team for an upcoming growth spurt, Web conferencing ASP PlaceWare Inc. today announced that president and CEO Barry James Folsom will become the Mountain View, Calif.-based company's chairman. (He will remain the president and CEO while the company searches to fill that position.)

"As we ride the current wave of growth and as I look at the strategic opportunity ahead, I have recommended to the board that PlaceWare broaden our management team by bringing in a CEO to help accelerate our growth," said Folsom. "Much like Bill Gates did by bringing in Jon Shirley in the early 80s, a company's success is often tied directly to the right leadership and management team at the right time."

PlaceWare cites record growth in 2001, reporting that it nearly doubled its revenue and customer base. It finished the year with $40 Million in cash equivalents and achieved cash flow break-even. according to the company.

"PlaceWare is poised to be the only viable enterprise-class Web conferencing solution," said Phil Samper, the previous chairman of PlaceWare, "so the opportunity is tremendous. I admire the leadership exhibited by Mr. Folsom in leading the current shift in roles and his desire to strengthen the company and help take it to the next level." Samper will continue to serve on company's the board

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