PHOENIX, May 16, 2012 (GLOBE NEWSWIRE) -- Crexendo, Inc. (AMEX:EXE), a
provider of Cloud based infrastructure services to businesses,
including telecom and website hosting services, e-commerce software and
website development, today announced changes to its senior management
team. The Company has appointed Doug Gaylor as its President and Chief
Operating Officer (COO). Mr. Gaylor has been VP of sales for Crexendo
since October 2009. Prior to joining Crexendo, Mr. Gaylor held
positions of increasing responsibility, culminating with the position
of Sr. Vice President at Inter-Tel/Mitel, where he was originally hired
in 1987. Mr. Gaylor was responsible for overseeing the sales efforts in
the Western United States where he was ultimately responsible for the
activities of approximately 200 representatives. Under his leadership,
yearly sales for his region reached over $175,000,000 annually. Mr.
Gaylor holds a BA in Communications from the University of Houston.
Jon Erickson has resigned from the position of Chief Financial Officer
(CFO) effective immediately. Mr. Erickson will remain with the company
in a transition period through the end of June 2012. He will continue
as a consultant through the end of October 2012 to assist with the
transition. The Company recently determined to move its accounting
functions to its Phoenix headquarters and Mr. Erickson decided that he
did not wish to move to Phoenix.
The Company has appointed Ron Vincent as its CFO. Mr. Vincent was
recently hired as VP of Finance for Crexendo. Prior to that, Mr.
Vincent was an audit senior manager for Ernst & Young, LLP in Phoenix
since 2005. Mr. Vincent supervised teams and managed client
relationships for clients of all sizes; his experience included
auditing and substantial review of business plans and services for
various telecommunication and internet marketing service providers.
Prior to his employment with Ernst & Young, Mr. Vincent was an audit
senior with Mukai, Greenlee & Company and John C. Todd II, P.C. Mr.
Vincent holds an MBA from the University of Phoenix and a B.S. in
accounting/finance from Indiana University Bloomington, IN.
The Company also appointed Satish Bhagavatula as its Chief Technology
Officer (CTO) and Chief Information Officer (CIO). Mr. Bhagavatula has
been Chief Architect of the Crexendo Telecom division since 2010. Prior
to that, Mr. Bhagavatula was co-founder and CTO of Tripware (Remotian
Systems, Inc). Prior to that, he held positions of increasing
responsibility at Inter-Tel/ Mitel culminating with the position of
Chief Architect and Distinguished Engineer where Mr. Bhagavatula was
involved with technology, architecture, product & project management
and software development. Mr. Bhagavatula holds a B.Tech in Electrical
Engineering from JNTU Kakinada, India and M.S in Computer Engineering
from the University of Massachusetts, Lowell.
Steven G. Mihaylo, Chief Executive Officer, stated, "I am very excited
about these additions to our senior management team. I have worked
closely with Doug since I assumed the role of COO and I have been very
favorably impressed with his business acumen, sales management skills
and understanding of and ability to meet the needs of our customers. I
have worked on and off with Doug for over twenty-five years and I have
always appreciated his thoughtfulness, his drive and his abilities.
Doug has both the respect and support of our management team, our sales
team and the entire organization."
Mr. Mihaylo added, "While I am disappointed to have Jon leave, I
understand his decision, and I want to thank him for his work with
Crexendo. I appreciate that he is willing to assist us with the
transition and I join our entire organization in wishing him the best.
I am, however, very excited to have Ron join our team. Ron has a wealth
of business and auditing experience and fully understands our space. He
is driven, bright and looks forward to positively impacting our
Mihaylo further added, "I am very excited that Satish will be assuming
the position of CTO/CIO. Satish has done a tremendous job building our
telecom infrastructure and features. I have known Satish for over
twelve years, and he is bright, energetic and laser focused on finding
solutions. I know he will do a tremendous job continuing to build our
world class engineering team and improving our products and services
and Crexendo's infrastructure. These additions to our management team
round out what I believe we need to take us to the next level. This
newly infused energy and experience will work tirelessly to improve
Crexendo and provide our customers with world class telecom and web
services. Our team shares my single minded goal to make this the best
company in its field and to increase shareholder value."
Doug Gaylor, COO added "I want to thank Steve for this opportunity.
Steve has been both a mentor and a friend to me for a long time. I know
what he expects for this company and its shareholders and I will work
with Steve and our management team to provide results that we will all
be proud of. I am excited to work with this very talented management
team and provide the products, services and sales that will create a
strong recurring revenue model and provide substantial value to our
Crexendo provides Cloud based infrastructure services to businesses,
which includes telecom and website hosting services, ecommerce
software, website development, internet marketing services and
broadband Internet services. These Cloud based services help businesses
build internet strategies to market and sell their products, accept
online orders, analyze marketing performance and manage pricing and
customers over the Internet. In addition to software, training and
Cloud based telecom and website hosting services, Crexendo offers site
development, search engine optimization (SEO), link building and
training. Crexendo, Crexendo Business Solutions, Crexendo Network
Services are trademarks of Crexendo, Inc.
The Crexendo, Inc. logo is available at
Safe Harbor Statement
This press release contains forward-looking statements. The Private
Securities Litigation Reform Act of 1995 provides a "safe harbor" for
such forward-looking statements. The words "believe," "expect,"
"anticipate," "estimate," "will" and other similar statements of
expectation identify forward-looking statements. Specific
forward-looking statements in this press release include information
about Crexendo (i) being very excited about these additions to its
senior management team; (ii) being very favorably impressed with Doug
Gaylor's business acumen, sales management skills and understanding of
and ability to meet the needs of Crexendo customers; appreciating Mr.
Gaylor's thoughtfulness, drive and his abilities; (iii) Gaylor having
both the respect and support of the Crexendo management team, sales
team and entire organization; (iv) Mr. Vincent having a wealth of
business and auditing experience and fully understanding the Crexendo
space; (v) Mr. Vincent being driven, bright and looking forward to
positively impacting the Crexendo business; (vi) being excited that
Bhagavatula has been willing to assume the position of CTO; (vii) Mr.
Bhagavatula having done a tremendous job building telecom
infrastructure and features; (viii) Mr. Bhagavatula being bright,
energetic and laser focused on finding solutions while doing a
tremendous job continuing to build Crexendo's world class engineering
team and improving Crexendo products and services; (ix) having these
additions to the team round out the team that will take Crexendo to the
next level; (x) management team being infused with energy and
experience and working tirelessly to improve Crexendo and provide its
customers with world class telecom and web services; (xi) and the
Crexendo team having a single minded goal to make Crexendo the best
company in its field and to increase shareholder value; (xii) Mr.
Gaylor knowing what Mr. Mihaylo expects for this company and its
shareholders and his ability to work with the management team to
provide results which will produce pride and (xiii) creating a strong
recurring revenue model and provide substantial value to its
For a more detailed discussion of risk factors that may affect
Crexendo's operations and results, please refer to the company's Form
10-K for the period ended December 31, 2011 and the Form 10Q for the
period ended March 31, 2012. These forward-looking statements speak
only as of the date on which such statements are made, and the company
undertakes no obligation to update such forward-looking statements,
except as required by law.
CONTACT: Crexendo, Inc.
Steven G. Mihaylo, CEO