Excelergy Corporation Names William Mahoney as Its New President and Chief Executive Officer; Company Chairman Cary Bullock To Focus On Firm's Strategic Growth and Development

Business Wire, Nov 30, 2000

Business/Technology Editors

LEXINGTON, Mass.--(BUSINESS WIRE)--Nov. 30, 2000

Cary Bullock, co-founder and chairman of Excelergy Corporation, the leading software provider to the restructuring global energy markets, today named Systems & Computer Technology executive William Mahoney as the company's new president and chief executive officer. Bullock indicated that Mahoney, who also joins Excelergy's board of directors, will take over the day-to-day operations of Excelergy.

"The Board and I have been looking since the summer for a world-class industry executive to join our team as president and CEO, and our patience has paid off tremendously," said Bullock. "Bill Mahoney is a proven winner and leader. There is no one more experienced and more successful than Bill for this job, and we're delighted to have him on our team."

Mahoney, 48, departs SCT after building its energy, communications and utility systems business from a money-losing, 70-employee unit in 1995 to what is now a profitable, 600 person division. Annual revenues increased ten-fold over these five years. As chairman of the board, Bullock will remain actively involved with the strategic growth and development of the firm he co-founded in 1998.

"I've been watching Excelergy's progress closely for some time and I think what impresses me most is how smart their people and advanced their products are," said Mahoney. "With their talent and technology, they've positioned themselves as one of the top global software providers to utilities and suppliers alike. I look forward to working closely with Cary and the rest of the management team to take this company to the next level."

Prior to his five years as president of SCT's energy, utilities and communications unit, Mahoney served as vice president of client services for SCT's educational software group. Previously, he served as vice president at Dun & Bradstreet Software in Rochester, New York.

By joining Excelergy, Mahoney returns to the New England area where he grew up, went to college and gained his early professional experience. In the 1980s, Mahoney was a marketing director for Woburn, MA-based Xyvision Inc. Earlier, he worked at Digital Equipment Corporation in Maynard, MA and Honeywell Information Systems in Waltham, MA. Mahoney earned a bachelor's degree from Harvard University in 1973. He is a former co-captain of Harvard rowing and competed on the US national crew.

About Excelergy

Excelergy delivers complete software technology to utilities and retail energy companies operating in restructuring global energy markets. Excelergy's innovative suite of EDI- and XML-enabled products includes the Excelergy ABP(TM) 3000 customer billing and information system, the Excelergy eXACT(TM) family of business-to-business transaction management solutions, and the web-based Energymarketplace energy portal. Headquartered in Lexington, MA, Excelergy has additional US offices in Santa Monica, CA and Atlanta, GA. Its European headquarters are located in Bristol, England. More information is available at www.excelergy.com.