Former Ariba Executive Neil Lustig Joins Vendavo to Lead Worldwide Sales Organization

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Mr. Lustig brings sales and sales consulting leadership for the next phase of Vendavo's growth.

Vendavo, the leading provider of price management and optimization software, today announced that Neil Lustig has joined the company as senior vice president of worldwide sales. In this role, he will lead the company's sales and business consulting teams globally. Mr. Lustig joins Vendavo from Ariba, where he has served as senior vice president, Ariba North America, and general manager of North American field operations.

"Neil is a passionate, driven executive who shares our goal of aggressively growing the company globally and maintaining our leadership in the price management market," said Al Crites, president and chief executive officer of Vendavo. "He brings a rare blend of skills and experiences to his new role, understands the business of selling high-value application solutions on a global basis and is totally committed to the customer's long-term success."

Prior to joining Vendavo, Mr. Lustig had a successful track record at Ariba, where he led North American field operations for more than two years. Previously, he served as general manager of Ariba's EMEA field operations where he significantly grew the size of the business. Prior to joining Ariba, Mr. Lustig spent 16 years at IBM, serving in a variety of sales and account management roles.

"I am very excited about joining Vendavo," said Mr. Lustig. "Price mangement and optimization has an extremely compelling value proposition and has rapidly become one of the most important solutions to drive profitability in business-to-business companies. I am committed to helping the company take advantage of this opportunity and continue to lead the category."

Mr. Lustig earned his Bachelor of Arts degree, magna cum laude, in computer science and applied mathematics from State University of New York at Albany.

About Vendavo
Vendavo is the leading provider of price management and optimization software for business-to-business companies worldwide. Vendavo Enterprise Pricing Suite solves pricing problems by giving businesses true enterprise-wide control of their entire pricing process. It combines pricing science, pricing best practices, and enterprise-class software to drive small improvements in average prices at every stage of the pricing process, from segmentation to deal close. Together, these improvements deliver big increases in profits - from 10% to 30%. Vendavo is the enterprise pricing solution of choice for more than 120 customer divisions at some of the world's biggest names in chemicals, high-tech and industrial manufacturing, consumer products, mill products and distribution. SAP resells the Vendavo solution to its customers under the its own name, SAP Price and Margin Management.

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Carleen LeVasseur
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