Entrust Technologies (Nasdaq: ENTU)picked up 18 U.S. cents to $7.05 in morning trading Monday, after the Internetsecurity company said it found a new president and chief executive officer.
F. William Conner, 42, joins the company from Nortel Networks, where heworked as vice president of e-business solutions, president of theenterprise division and chief marketing officer. Conner has been on Entrust’s board since 1997, and served as chairman from October 1998 to May 2000.
David Thompson, chief financial officer, and Alberto Yepez, president ofEntrust’s new ventures division, have been serving as co-CEOs sinceFebruary, when John Ryan resigned. Ryan had been president and CEO of thePlano, Texas, company since it was founded in 1996.
Conner said he will focus on improving the company’s ability to “respondmore effectively to global economic conditions,” as well as on “redeployingresources to better align with customer requirements.”
According to Conner, Entrust is providing security, privacy and trust in Internet transactions and communications to its clients in an age in which the high-performance Internet is rapidly evolving and expanding.
Earlier this month, Entrust lowered its outlook for the first quarter endedMarch 31st, saying that a sluggish economy resulted in a decline in softwarelicense sales.
The company said that it expected a loss from operations of 32 to 34 cents pershare for the quarter, rather than the profit of 1 to 2cents previously projected. Entrust also lowered its revenue forecast to $31million to $32 million, down from $50 million to $51 million.