Adaptive Planning Names Neil Thomas VP of Sales

Company Taps Seasoned Industry Executive to Drive Accelerated Growth within Performance Management Market
 

Mountain View, CA—July 18, 2006—Adaptive Planning, the industry leader in collaborative performance management solutions, today named Neil Thomas as Vice President of Sales. Having most recently served as a sales executive for Cognos, Thomas brings more than two decades of sales and management experience to his new role, as well as deep domain expertise in business intelligence, budgeting and forecasting, and financial management.

At Cognos, Thomas led the region that generated the company's strongest sales growth, delivering nine successive quarters of year-on-year growth. Prior to his tenure at Cognos, Thomas held Area Vice President of Sales, Area Vice President of Channels, and General Manager positions at Adaytum, a market-creating budgeting and planning vendor that was acquired by Cognos in 2003. He joined Adaytum as one of the original team in 1996 and played a key role in driving the company's growth from $1 million to $61 million in revenue.

From his many years as Group Financial Controller at Dimension Data (formally Tricom Group) and Marketing Controller at Johnson & Johnson, Thomas also brings valuable financial management insight to the Adaptive Planning team.

Adaptive Planning develops a collaborative performance management solution that empowers business users with the information needed to make better decisions. Adaptive Planning 3.0, announced in June, surpasses traditional methods of managing financial processes by offering the flexibility of spreadsheets with the structure and process of enterprise business intelligence applications. Delivered either on-demand or on-premise, the solution is offered at an affordable annual subscription fee.

"It's an exciting time to join the company," said Thomas. "With its groundbreaking solutions and innovative business model, Adaptive Planning is clearly redefining the playing field for planning and reporting applications."

"With the release of Adaptive Planning 3.0, we are well-positioned to aggressively capture market share within the performance management space," said William A. Soward, President and Chief Executive Officer of Adaptive Planning. "Neil Thomas' proven track record in building teams and driving revenue, coupled with deep domain expertise in business intelligence and performance management, make him the ideal individual to spearhead the company's continued growth."

About Adaptive Planning
Adaptive Planning is the leading provider of collaborative performance management solutions. Adaptive Planning makes it easy for mid-size companies and departments of larger corporations to move beyond spreadsheets to a full-featured business performance management (BPM) solution for a fraction of the cost of traditional BPM or business intelligence applications. Delivered either on-demand or on-premise, Adaptive Planning is available for an affordable annual subscription fee. Adaptive Planning is headquartered in Mountain View, California and can be reached at 650-528-7500 or www.adaptiveplanning.com.