ePlus Announces Changes to Board of Directors
Gus Hunt, former Chief Technology Officer of the CIA, joins as independent director
HERNDON, VA - September 10, 2014 - ePlus inc. (Nasdaq NGM: PLUS - news) today announced that Mr. Gus Hunt, the former chief technology officer (CTO) of the Central Intelligence Agency (CIA), has been elected as a new member to its Board of Directors. The Board has determined that Mr. Hunt is an independent director within the meaning of Nasdaq rules.
"We welcome Gus Hunt to the Board. Mr. Hunt's experiences as a long-time senior executive at the CIA, combined with the extensive network of relationships and connections he has built throughout the venture capital, private equity, and start-up communities, bring an additional set of skills and opportunities to the Board," said Phillip G. Norton, chairman, president and chief executive officer of ePlus.
"I am pleased to join the Board of ePlus, a leading advanced solutions provider which is very well positioned to meet the needs of today's customers in an increasingly complex IT environment. I look forward to working with the Board and senior management to enhance value for all stakeholders," Mr. Hunt said.
Mr. Hunt will replace Mr. Milt Cooper, an ePlus director since 2003, who is retiring.
"I'd like to thank Milt for his dedicated service to ePlus as a member of the Board of Directors. Milt was an instrumental part of the Board and helped guide ePlus for more than 10 years," Mr. Norton said.
Mr. Hunt retired from the CIA as their CTO in October 2013 after a 28 year career. As CTO, Mr. Hunt set the information technology strategic direction and future technology investment plan for the CIA. Mr. Hunt developed the CIA's Accelerated Technology Adoption Process to enable the CIA to dramatically speed up its processes to discover, evaluate, acquire and implement new capabilities in support of its business requirements. In previous positions at the CIA, Mr. Hunt was also responsible for building the mission software that the CIA's core business activities used to conduct their day-to-day work, and also shifted the agency to a services-based IT architecture and environment.
Mr. Hunt is currently president and CEO of Hunt Technology, LLC, a private consulting practice focused on strategic IT planning, cyber and data-centric security, big data analytics, and cloud computing. He serves as an Operating Partner for LLR Partners, a private equity investment firm, and as an advisor to Artis Ventures, a Silicon Valley venture capital investment group. He holds a Bachelor of Engineering and Masters of Engineering in Civil/Structural Engineering from Vanderbilt University in Nashville, Tennessee.
A full biography of Mr. Hunt is available on ePlus' investor relations website: www.eplus.com/investors.
About ePlus inc.
ePlus is a leading integrator of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering complex information technology solutions, which may include managed and professional services and products from top manufacturers, flexible financing, and proprietary software. Founded in 1990, ePlus has more than 950 associates serving commercial, state, municipal, and education customers nationally. The Company is headquartered in Herndon, VA. For more information, visit www.eplus.com, call 888-482-1122, or email email@example.com. Connect with ePlus on Facebook at www.facebook.com/ePlusinc and on Twitter at www.twitter.com/ePlus.
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Statements in this press release that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from financial market disruption and general slowdown of the U.S. economy such as our current and potential customers delaying or reducing technology purchases, increasing credit risk associated with our customers and vendors, reduction of vendor incentive programs, and restrictions on our access to capital necessary to fund our operations; our ability to consummate and integrate acquisitions; the possibility of goodwill impairment charges in the future; significant adverse changes in, reductions in, or losses of relationships with major customers or vendors; the demand for and acceptance of, our products and services; our ability to adapt our services to meet changes in market developments; our ability to implement comprehensive plans for the integration of sales forces, cost containment, asset rationalization, systems integration and other key strategies; our ability to reserve adequately for credit losses; our ability to secure our electronic and other confidential information; future growth rates in our core businesses; our ability to protect our intellectual property; the impact of competition in our markets; the possibility of defects in our products or catalog content data; our ability to adapt to changes in the IT industry and/or rapid change in product standards; our ability to realize our investment in leased equipment; our ability to hire and retain sufficient qualified personnel; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information.