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QAD Announces Passing of Chief Executive Officer Karl Lopker

SANTA BARBARA, Calif., Aug. 27, 2018 /PRNewswire/ -- QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB) announced today that Karl Lopker, Chief Executive Officer, passed away on August 25. He was 66 years old.

Mr. Lopker joined QAD, which was founded by his wife Pam in 1979, 39 years ago.  Prior to that, he co-founded the highly successful Deckers Outdoor Corporation.

QAD will continue with the management arrangements recently announced for the foreseeable future.  The Board of Directors will consider options for a permanent CEO appointment in due course.

"This is a profound loss for Karl's family and for the entire QAD community. Karl has been a guiding light for nearly four decades and will be greatly missed," said Peter R. van Cuylenburg, QAD's Chairman of the Board.  "During his time at QAD, Karl helped build and develop an outstanding team that is continuing his steadfast commitment to providing global manufacturers with tools to help them become Effective Enterprises.  All of us on the Board of Directors have greatly enjoyed working with Karl for many years."

About QAD – The Effective Enterprise

QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB) is a leading provider of flexible, cloud-based enterprise software and services for global manufacturing companies. QAD Cloud ERP for manufacturing supports operational requirements in the areas of financials, customer management, supply chain, manufacturing, service and support, analytics, business process management and integration. QAD's portfolio includes related solutions for quality management software, supply chain management software, transportation and global trade management software and B2B interoperability. Since 1979, QAD solutions have enabled customers in the automotive, consumer products, food and beverage, high tech, industrial manufacturing and life sciences industries to better align operations with their strategic goals to become Effective Enterprises.

To learn more, visit www.qad.com or call +1 805-566-6000.

"QAD" is a registered trademark of QAD Inc.  All other products or company names herein may be trademarks of their respective owners.

Note to Investors: This press release contains certain forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding projections of revenue, income and loss, capital expenditures, plans and objectives of management regarding the company's business, future economic performance or any of the assumptions underlying or relating to any of the foregoing.  Forward-looking statements are based on the company's current expectations.  Words such as "expects," "believes," "anticipates," "could," "will likely result," "estimates," "intends," "may," "projects," "should," "would," "might," "plan" and variations of these words and similar expressions are intended to identify these forward-looking statements.  A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements.  These risks include, but are not limited to: risks associated with our cloud service offerings, such as defects and disruptions in our services, our ability to properly manage our cloud service offerings, our reliance on third-party hosting and other service providers, and our exposure to liability and loss from security breaches; demand for the company's products, including cloud service, licenses, services and maintenance; pressure to make concessions on our pricing and changes in our pricing models; protection of our intellectual property; dependence on third-party suppliers and other third-party relationships, such as sales, services and marketing channels; changes in our revenue, earnings, operating expenses and margins; the reliability of our financial forecasts and estimates of the costs and benefits of transactions; the ability to leverage changes in technology; defects in our software products and services; third party opinions about the company; competition in our industry; the ability to recruit and retain key personnel; delays in sales; timely and effective integration of newly acquired businesses; economic conditions in our vertical markets and worldwide; exchange rate fluctuations; and the global political environment.  For a more detailed description of the risk factors associated with the company and factors that may affect our forward-looking statements, please refer to the company's latest Annual Report on Form 10-K and, in particular, the section entitled "Risk Factors" therein, and in other periodic reports the company files with the Securities and Exchange Commission thereafter.  Management does not undertake to update these forward-looking statements except as required by law.

QAD Logo (PRNewsfoto/QAD Inc.)

 

For More Information, Contact:


Kara Bellamy

Laurie Berman

Chief Accounting Officer

PondelWilkinson Inc.

805.566.6100

310.279.5980

investor@qad.com

lberman@pondel.com

 

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SOURCE QAD Inc.