Wednesday, June 21, 2006

Novell Replaces CEO and CFO

Novell's Board of Directors decided to terminate its CE,O Jack L. Messman, and its CFO, Joseph S. Tibbetts, effective immediately. Mr. Messman will remain on Novell's Board of Directors until Oct. 31, 2006.

The company's Board elected its current President, Ronald W. Hovsepian, to the additional position of CEO, effective immediately. Hovsepian, who also has been elected to the Board of Directors, has been president and chief operating officer since October 2005. Dana C. Russell, 44, Novell's current vice president of finance and corporate controller, has been appointed interim CFO while the company conducts a search for a permanent replacement.

The company also announced that Thomas G. Plaskett, a director of Novell since November 2002, has been elected non-executive Chairman of the Novell Board.

Mr. Plaskett stated: "The Board concluded that a management change would be the best way to accelerate the execution of our growth strategy and build value for shareholders."

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