– UK, London – Tern Plc, the AIM-quoted investment company focussed on creating value from the cloud and mobile sectors of the IT market, announces the following Board appointment with immediate effect: Al (Albert) Sisto (aged 64) joins as an Executive Director.
He has 40 years experience of the computing and software markets in United States of America. He has been a senior executive in general management including as chief operating officer of RSA Data Security Inc, the leading software company specialising in security where he was responsible for changing the Company strategy from a passive patent licensing operation to an aggressive, sales oriented software company, and during this time he negotiated partnership agreements with IBM, Intel, Compaq, Cisco and Nortel.
He was Chairman, President and CEO of Phoenix Technologies Ltd, a leading BIOS software company operating globally, where he revitalised that business, leading the acquisition of Ravisent Technologies, an the internet appliance business, investment in semiconductor and microprocessor designer Transmeta and spinning off inSilicon Corporation.
Also, as Chairman and Chief Executive of Hifn he turned round this computer storage business and negotiated the strategic merger with EXAR Corporation.
He is a venture partner at Nauta Capital and General Partner at Sixth Bridge LP. After graduating Mr Sisto’s early experience was in sales and marketing with GE, Honeywell and Intel.
Ally Kerr is resigning as a director to become investment adviser to Tern.
Angus Forrest, Chairman of Tern Plc, said: “We are delighted to welcome Al to the Board. He brings much relevant experience of operating in North America and globally. Al’s contribution will assist in particular with initiating and developing strategic relationships and selling companies in North America”
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