GroundWork taps Wendy Nieto as chief financial officer

  • March 24, 2009

Financial Expertise Upgrade Critical for Evolving Space and Expanding Business

SAN FRANCISCO--(BUSINESS WIRE <http://www.businesswire.com/> )

GroundWork Open Source, Inc. (http://www.groundworkopensource.com), the leader in commercial open source systems and network management software, today announced that it has named Wendy Nieto as CFO. Nieto brings over 15 years of experience at both public and private companies, most recently serving as Executive Vice President and Chief Financial Officer for Intraware, where she was responsible for all expects of corporate finance for the publicly traded company and reported directly to new GroundWork CEO, Peter Jackson.

"The IT management space is drastically changing in a way that is ripe for new strategic winners and losers," said Wendy Nieto, CFO of GroundWork. "GroundWork’s maturity as a successful challenger of the industry status quo will allow it to benefit from increased financial expertise as events change the landscape. I’m excited to be able to help shape this rapidly evolving market."

Prior to her 8 years at Intraware, Nieto held Director of Finance positions in both the corporate accounting and operations group of Chiron Corporation, a leading global biotechnology company. A Certified Public Accountant, Nieto holds a B.S. from California State University, Hayward and an M.B.A. from St. Mary's University, California.

"With Q408 revenues that exceeded target by 42 percent, GroundWork’s business is poised to expand in new directions," said Peter Jackson, CEO of GroundWork. "Wendy’s talents will be crucial to these efforts and I’m delighted that she has joined the GroundWork team."

About GroundWork

Founded in 2004, San Francisco-based GroundWork Open Source, Inc. (http://www.groundworkopensource.com) is the market leader in commercial open source network and systems management software, delivering enterprise-class network, system and application management solutions at a fraction of the cost of proprietary solutions.

GroundWork's best of breed approach gives customers the flexibility to use diverse open source and proprietary technologies together under a unified interface, allowing users to leverage the advantages of open source while simultaneously preserving existing investments in legacy management tools. GroundWork’s solutions are in use at organizations like Academy of Motion Picture Arts and Sciences, AOL, Genworth Financial, SAIC, Seton Hall University, Siemens, and World Bank. GroundWork’s solutions are available from GroundWork, its partners including Red Hat, Unisys, Fujitsu, and a worldwide network of channel partners. The company is privately held, with investments from Canaan Partners, Mayfield Fund, JAFCO Ventures and SAP Ventures.

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