|[December 04, 2012]
Saba Appoints Michael Shahbazian as Interim Chief Financial Officer
REDWOOD SHORES, Calif. --(Business Wire)--
Saba (News - Alert) (NASDAQ:SABA), the premier provider of people-centric enterprise
solutions, today announced the appointment of Michael Shahbazian as
Interim Chief Financial Officer, effective December 5, 2012. Mr.
Shahbazian will assume responsibility for global finance reporting to
Saba's Founder and CEO, Bobby Yazdani.
"Michael has over 30 years of experience working with high technology
companies, including CFO roles in numerous public and private
companies," said Bobby Yazdani. "His expertise in successfully managing
restatements and the accompanying SEC (News - Alert) filings will be of tremendous
benefit to Saba."
Mr. Shahbazian joins Saba from PDF Solutions where he served as the
Company's Interim CFO and Vice President of Finance from March 2012 to
May 2012 and from June 2011 through December 2011. Prior to that, Mr.
Shahbazian served as chief financial officer at various companies,
including Guidewire Software, Inc. from November 2007 to July 2009,
Embarcadero Technologies from October 2005 through July 2007 and Niku
Corporation (acquired by Computer Associates (News - Alert)) from January 2003 to
Saba entered into a letter agreement with Wells Fargo (News - Alert) Bank, National
Association dated as of Novmber 30, 2012 pursuant to which Wells Fargo
extended to December 31, 2012 the time for Saba to comply with certain
terms of the Credit Agreement between parties dated as of June 27, 2011,
primarily relating to the delayed SEC filings and the pending
restatement of Saba's prior financial results.
Saba (NASDAQ: SABA) enables organizations to build a transformative
workplace that leverages the advent of social networking in business and
the ubiquity of mobile to empower an organization's most
mission-critical assets - its people. The company provides a set of
people-centric enterprise solutions to various businesses and industries
worldwide. Saba delivers cloud-based learning
management, and social
enterprise solutions to transform the way people work.
Saba's premier customer base includes major global organizations and
industry leaders in financial services, life sciences and healthcare,
high tech, automotive and manufacturing, retail, energy and utilities,
packaged goods, and public sector organizations. Headquartered in
Redwood Shores, California, Saba has offices on five continents. For
more information, please visit www.saba.com
or call +1-877-SABA-101 or +1-650-779-2791. SABA, the Saba logo, and the
marks relating to Saba products and services referenced herein are
either trademarks or registered trademarks of Saba Software (News - Alert), Inc. or its
affiliates. All other trademarks are the property of their respective
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