Model N Expands Board of Directors with Industry Veterans from Adobe and McKinsey

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Model N, Inc., a leading provider of Revenue Management solutions, today announced that Mark Garrett and Michael Nevens have joined the Model N Board of Directors, bringing the total board membership to six.

As a leader in the emerging Revenue Management market, Model N is well positioned to meet the growing demand for solutions that improve critical revenue processes

Model N, Inc. , a leading provider of Revenue Management solutions , today announced that Mark Garrett and Michael Nevens have joined the Model N Board of Directors, bringing the total board membership to six. Garrett and Nevens will be joining a Board currently comprised of Zack Rinat, Chairman, Founder and CEO of Model N; James Breyer, Managing Director of Accel Partners; Mark Leslie, retired Chairman and CEO of Veritas Software; and Charles Robel, retired General Partner and Chief Operating Officer at Hummer Winblad Venture Partners and formerly a partner in the Software Industry Services Group at Price Waterhouse.

Mark Garrett

“Mark Garrett is a stellar addition to our Board,” said Zack Rinat, Founder and CEO of Model N. “With more than 25 years of financial management in technology companies, Mark brings Model N valuable financial expertise in enterprise software as well as experience both in bringing companies public and in managing large public companies. In today’s climate of increased scrutiny and demands for visibility by both government and investors, Mark has the right experience to guide us in the creation of state-of-the-art corporate governance policies and procedures.”

Currently Executive Vice President and Chief Financial Officer at Adobe Systems, Garrett held similar positions at EMC Corporation’s Software Group and at Documentum, where he was instrumental in closing several acquisitions and ultimately in the sale of Documentum to EMC. Previously he held senior financial positions at IBM and Cadence Design Systems. Garrett holds bachelor’s degrees in accounting and marketing from Boston University and a master’s degree in business administration from Marist College.

“I am excited to be joining Model N’s Board,” said Garrett. “As a CFO, I see first-hand the critical need for Revenue Management applications. By automating the revenue line of the income statement, Model N is providing substantial value to its customers both by stopping revenue leakage and by providing the controls and visibility mandated by Sarbanes Oxley and other government regulations. In addition, I am encouraged by the Company’s ability to simultaneously achieve high growth, positive cash flow, high visibility, and profitability. “

T. Michael Nevens

“We are extremely pleased to welcome Mike Nevens to the Model N Board,” said Zack Rinat, Founder and CEO of Model N. “The broad strategic vision Mike gained from his many years as a senior partner in McKinsey’s global technology practice will be invaluable to Model N not only in our high tech vertical but also as we execute on our vertical strategy and extend our business to other industries beyond life sciences and high technology.”

At present Michael Nevens is a Senior Advisor to Permira, an international private equity firm with $30 billion under management. He also serves on the board of directors of Borland Software, Exeros Software, and Advanced Wireless Communications, and he chairs the private sector advisory board for the Chief Information Officer of the State of California. In 2002 he retired as a Director of McKinsey & Co., having held a number of senior positions in the firm, including leadership of McKinsey’s global technology practice and membership on the board of the McKinsey Global Institute. He has been published on the topics of technology and strategy in The Wall Street Journal, The Financial Times, and The Harvard Business Review. Nevens holds a bachelor of science in physics from the University of Notre Dame and a master of science in industrial administration from the Krannert School at Purdue University, where he was designated a Krannert Scholar.

“As a leader in the emerging Revenue Management market, Model N is well positioned to meet the growing demand for solutions that improve critical revenue processes,” said Nevens. “McKinsey studies have demonstrated that a 1% price improvement can lead to an 11% profitability improvement. I believe that Model N’s vertical strategy is the right approach for aligning industry-specific pricing and planning processes across the entire revenue life cycle and turning vision into reality.”

About Model N

Model N is a leader in Revenue Management solutions, offering an integrated suite of applications for analytics, pricing strategy and execution, contracts, compliance, rebates, fees and charge-backs optimized for the industry practices of Life Sciences and High Tech companies. Enabling the creation of a seamless, end-to-end process from price setting through settlements payment, Model N's uniquely integrated approach eliminates revenue leakage and delivers the visibility and controls needed to avoid the risks of non-compliance to government reporting regulations such as Sarbanes-Oxley and government pricing requirements. Customers include: Boston Scientific Corporation; Bristol-Myers Squibb Company; Cypress Semiconductor Corporation; Intersil Corporation; Linear Technology Corporation; Medtronic, Inc.; Microchip Technology, Inc.; Micron Technology Inc.; Ortho-Clinical Diagnostics, a Johnson & Johnson company; ON Semiconductor, Inc. and Pfizer, Inc. Model N is located in Redwood Shores, California. For additional information, visit http://www.modeln.com.

Media Contact:
Megan Reilly
Model N, Inc.
Tel: 650-610-4773
mreilly @ modeln.com

Model N is a mark of Model N, Inc. All other company names mentioned are the property of their respective owners and are mentioned for identification

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