Seasoned Financial Executive Brings Deep Experience to Help
Deliver ARI’s Strategic Vision
MILWAUKEE, Nov. 25, 2013 (GLOBE NEWSWIRE) — ARI Network Services, Inc.
(“ARI”) (OTCBB:ARIS) announced today that William (“Bill”) A. Nurthen
will join the Company’s management team as Chief Financial Officer
(“CFO”) on November 29, 2013 following an extensive executive search.
In his role as CFO, Nurthen will be responsible for all financial, risk
and SEC compliance functions. Nurthen’s financial background spans
nearly two decades including extensive experience in corporate
governance, mergers and acquisitions, and investor relations.
“ARI has experienced tremendous growth and change over the past 24
months and I expect that to continue. I believe that Bill is the right
person to help update and implement the capital planning required to
support our long term growth objectives,” said Roy W. Olivier,
President and Chief Executive Officer of ARI. “Bill’s experience with
integrating acquisitions, reducing costs, and leading the financial
team will be essential to our success as we take ARI to the next
Nurthen’s breadth of experience includes work in various industries
including technology, software, bio-medical and investment banking.
Most recently, Nurthen served as CFO of Cabrera Capital Markets, LLC,
an investment bank serving institutional and Fortune 500 clients across
the globe. During the first six months of his tenure, he achieved a 30%
annual cost reduction across the entire business. Additional notable
achievements include raising capital and securing financing for new
“I am very excited to be joining the ARI team,” said Nurthen. “The
company had strong revenue growth in fiscal 2013 and is well-positioned
for future earnings growth. I look forward to working with everyone to
help the company achieve its strategic and financial goals.”
Prior to joining Cabrera in 2011, Nurthen served in a variety of
high-level financial leadership positions including CFO of bioLytical
Laboratories, where his financial leadership helped that company
achieve 150% revenue growth. From 1999 to 2007, Nurthen served as Vice
President of Finance and then CFO of Inforte Corp., a NASDAQ company,
where his financial leadership helped to grow and diversify the
company’s revenue through two acquisitions. Bill’s contributions helped
Inforte consistently exceed their EBITDA and net income projections
until they were acquired by Business & Decision Group. From 1997 to
1999, Nurthen worked in various financial operations roles at Platinum
Technology International, Inc., a software and consulting company.
In 2002, Nurthen earned his MBA from The Kellogg School of Management
at Northwestern University. He received his BBA undergraduate degree
from The University of Notre Dame.
Darin Janecek exited the company as CFO on November 18, 2013. We would
like to thank Darin for his many contributions as ARI’s CFO and wish
him well in his future endeavors.