Blackbaud, Inc. (NASDAQ: BLKB), announced today that Timothy Chou has joined its Board of Directors. The former president of Oracle On Demand, author of “The End of Software” and long-time lecturer at Stanford University brings unparalleled knowledge in the software business.
“As we continue to expand our portfolio of solutions and services, our board is also adapting and expanding to reflect the progression of the company,” said Marc Chardon, Blackbaud’s chief executive officer. “We are pleased to welcome Timothy Chou to our Board of Directors and know that his diverse experience and immense expertise will provide great value to the company as we move forward with our long range plan.”
"I am delighted to join the board of Blackbaud," said Chou. "The company has an outstanding product portfolio, a world-class customer list, a strong balance sheet and an exciting market opportunity. But most importantly, their commitment to serving the nonprofit community makes this a particularly unique and worthwhile endeavor."
Chou is a 20-year technology industry veteran and has served in senior management and operating roles at Oracle Corporation (NASDAQ:ORCL), Reasoning, Inc. and Tandem Computers. At Oracle, he served as president, Oracle On Demand. Oracle On Demand was one of the early movers to software as a service and under Chou’s leadership was the fastest growing business inside Oracle. Chou is widely acknowledged as a pioneer in software on demand and recently launched the first class on SaaS at Stanford University.
Chou holds a bachelor’s degree in electrical engineering from North Carolina State University, and a master’s and doctoral in electrical engineering at University of Illinois Urbana-Champaign. He joins Blackbaud’s six other board members including Marco W. Hellman, chairman of the board and former managing director with Hellman & Friedman; Marc E. Chardon, Blackbaud’s chief executive officer; George H. Ellis, chief financial officer of Global 360, Inc.; Andrew M. Leitch, former vice chairman of the management committee at Deloitte & Touche; John P. McConnell, former CEO and board chairman of A4 Health Systems; and Carolyn Miles, chief operating officer of Save the Children.
About Blackbaud
Blackbaud is the leading global provider of software and services designed specifically for nonprofit organizations, enabling them to improve operational efficiency, build strong relationships, and raise more money to support their missions. Approximately 16,000 organizations — including the American Red Cross, Dartmouth College, the WGBH Educational Foundation, Episcopal High School, Lincoln Center, Cancer Research UK, Special Olympics, and Arthritis Foundation — use one or more of Blackbaud products and services for fundraising, constituent relationship management, financial management, direct marketing, school administration, ticketing, business intelligence, website management, prospect research, consulting, and analytics. Since 1981, Blackbaud’s sole focus and expertise has been partnering with nonprofits and providing them the solutions they need to make a difference in their local communities and worldwide. Headquartered in the United States, Blackbaud also has operations in Canada, the United Kingdom, and Australia. For more information, visit www.blackbaud.com.
Forward-looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: management of integration of Target Software and Target Analysis and other risks associated with acquisitions; risk associated with successful implementation of multiple integrated software products; lengthy sales and implementation cycles, particularly in larger organizations; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; the ability to attract and retain key personnel; risks related to our dividend policy and share repurchase program, including potential limitations on our ability to grow and the possibility that we might discontinue payment of dividends; risks relating to restrictions imposed by the credit facility; risks associated with management of growth; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC’s websites at www.sec.govor upon request from Blackbaud's investor relations department.
All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
