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OPENWAVE SYSTEMS : Openwave Board of Directors Elects Peter Feld as Chairman

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09/12/2011 | 12:40pm CEST

Openwave Systems Inc. (Nasdaq:OPWV), a global software innovator delivering all-Internet Protocol (all-IP) mediation and messaging solutions, today announced the rotation of Peter Feld into the role of Chairman of the Board, effective Sept. 9. He succeeds Charles E. Levine, who continues as a member of the Openwave Board and serves on the Compensation Committee as well as the Nomination and Corporate Governance Committee.

"I look forward to leading the Board's efforts as Openwave takes the next step in its turnaround program that is designed to drive Openwave toward profitability and to deliver value to shareholders," said Mr. Feld.

Mr. Feld is a Managing Member, Portfolio Manager and the Head of Research at Starboard Value LP, which owns approximately 9.9% of the outstanding shares of Openwave. He was named to the seven-member Openwave Board in August 2011 for a term that expires at the 2011 annual meeting.

Prior to co-founding Starboard Value LP, Feld was a Managing Director at Ramius LLC and Head of Research for Ramius LLC's funds that comprised the small cap value and opportunity investment platform. Prior to joining Ramius in February 2005, Mr. Feld was an analyst in the Technology Investment Banking group at Banc of America Securities LLC. Mr. Feld currently serves on the Board of SeaChange International. He holds a B.A. in economics from Tufts University.

About Openwave

Openwave Systems Inc. (Nasdaq: OPWV) is a global software innovator delivering all-IP mediation and messaging solutions that enable communication service providers to create and deliver smarter services.

Building on its mobile data heritage, Openwave mobilizes the Internet with data-driven solutions that comprehensively enhance IP traffic and increase the value of the mobile network. Openwave arms its customers with a 360-degree view of network activity plus the tools to help them proactively optimize network resources (Congestion Control), react to user behavior with smarter data plans and services (Price Plan Innovation), and deliver a contextually relevant messaging experience (Converged Messaging).

Openwave is a global company with a blue chip customer base spanning North America, Latin America, Australia and New Zealand, Asia, Africa, Europe, and the Middle East. Openwave is headquartered in Redwood City, California.

Openwave is a trademark of Openwave Systems Inc. All other trademarks are the properties of their respective owners.

The Blueshirt Group
Mike Bishop, 415-217-4968
Investor Relations
mike@blueshirtgroup.com
or
Openwave Systems Inc.
Vikki Herrera, 650-480-6753
Public Relations
Vikki.Herrera@openwave.com


© Business Wire 2011
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Number of Analysts 1
Average target price 52,0 $
Spread / Average Target 761%
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NameTitle
Boris Teksler President, Chief Executive Officer & Director
Richard S. Chernicoff Chairman
James D. Wheat Chief Financial Officer
Peter Andrew Reed Director
Jess Marshall Ravich Director
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