Solera Holdings, Inc. (NYSE: SLH), the leading global provider of software and services to the automobile insurance claims processing industry, today announced the launch of the Executive Pre-Deployment program.
“Solera is very focused on constantly raising the bar, especially in the area of external hires for senior positions. Similar to other high performing companies’ experience, it can be difficult recruiting qualified candidates outside of the company directly into senior leadership roles. The new Executive Pre-Deployment program will help us develop executive talent that has been selected and qualified as Solera leaders before they take over critical missions,” said Abilio Gonzalez, SVP Corporate Human Resources Operations Officer.
The qualification process with the Solera senior management team is an iterative process that sharpens operating officers’ skills. “We will use what we have learned from this process with our current senior executives to accelerate the development and refinement of our future operating leaders,” Gonzalez said.
As part of his on-boarding plan, John Giamatteo was assigned to a special project in Canada a few months ago. The “assignment phase” is a very important phase where associates like John must demonstrate the ability to operate and drive a mission to the Solera standard.
“The culture of Solera is one where our leaders must qualify through a series of complex, time-sensitive and high-output missions and perform at or above expectations defined by our executive team,” said Tony Aquila, CEO, Chairman and Founder of Solera.
As another example, Satish Maripuri has also been selected to participate in the Executive Pre-Deployment program and is currently undergoing the first phase. Satish brings over 20 years of global leadership and industry experience to Solera. For the last six years, Satish held several positions with Lionbridge Technologies Inc (Nasdaq: LIOX), most recently as Chief Operating Officer.
“We are excited to bring more external candidates into the program as part of our mission to reach $1 billion in revenue and $400 – $450 million in Adjusted EBITDA. This program gives associates like John and Satish the opportunity and environment to learn and qualify. It also gives Solera a greater degree of certainty that associates are able to execute their missions before being assigned broader areas of responsibility,” Aquila added.
Solera is the leading global provider of software and services to the automobile insurance claims processing industry. Solera is active in over 50 countries across six continents. The Solera companies include Audatex in the United States, Canada, and in more than 45 additional countries, Informex in Belgium and Greece, Sidexa in France, ABZ and Market Scan in The Netherlands, HPI in the United Kingdom, Hollander serving the North American recycling market, AUTOonline providing salvage disposition in a number of European and Latin American countries, and IMS providing medical review services. For more information, please refer to the company’s website at http://www.solerainc.com.
Cautions about Forward-Looking Statements
This press release contains forward-looking statements, including statements about our goal to achieve $1 billion in revenue and $400 million – $450 million in Adjusted EBITDA and the expected contributions to Solera from its Executive Pre-Deployment Program. These statements are based on our current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: our reliance on a limited number of customers for a substantial portion of our revenues; unpredictability and volatility of our operating results, which include the volatility associated with foreign currency exchange risks, our sales cycle, seasonality and other factors; risks associated with the uncertainty in and volatility of global economic conditions; risks associated with and possible negative consequences of acquisitions, joint ventures, divestitures and similar transactions, including our ability to successfully integrate our acquired businesses; effects of competition on our software and service pricing and our business; time and expenses associated with customers switching from competitive software and services to our software and services; rapid technology changes in our industry; effects of changes in or violations by us or our customers of government regulations; costs and possible future losses or impairments relating to our acquisitions; the financial impact of future significant restructuring and severance charges; the impact of changes in our tax provision (benefit) or effective tax rate; use of cash to service our debt and effects on our business of restrictive covenants in our debt facility; risks associated with operating in multiple countries; our ability to obtain additional financing as necessary to support our operations; our dependence on a limited number of key personnel, including personnel in our Executive Pre-Deployment program; effects of system failures or security breaches on our business and reputation; our reliance on third-party information for our software and services; and any material adverse impact of current or future litigation on our results or business. For a discussion of these and other factors that could impact our operations or financial results and cause our results to differ materially from those in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, particularly our Quarterly Report on Form 10-Q for the Quarter Ended September 30, 2010. Solera is under no obligation to (and specifically disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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