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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