From: Steve <privsoft@ix.netcom.com>
Date: Thu, 15 May 1997 06:04:04 +0800
To: cypherpunks@toad.com>
Subject: Problems at PGP?
Message-ID: <337A3548.2496@ix.netcom.com>
MIME-Version: 1.0
Content-Type: text/plain


Hot Off The Press
http://www.news.com/News/Item/0,4,10660,00.html

Pretty Good Privacy CEO
                quits 
                By Dawn Yoshitake
                May 14, 1997, 11:30 a.m. PT 

                Security software firm Pretty Good Privacy
                announced today that its chief executive and
                president has resigned as the company mature from
                its start-up status.

                Thomas Steding, CEO, president, and a PGP
                founder, will now become a company adviser. The
                CEO position will be phased out, the company
                said.

                "This was a decision by the board and the executive
                staff. It seemed the right time," spokesman Mike
                Nelson said. "We're moving out of a start-up mode
                and into pursuit of the corporate marketplace. This
                was a minor adjustment to the staff."

                Nelson added that Steding will continue to advise
                the company on team-building and moving its
                operations quickly.

                Phillip Dunkelberger, former vice president of sales,
                will now become president and be responsible for
                the company's daily operations. Dunkelberger will
                also become a board member.

                Jonathan Seybold, a PGP founder, has been named
                chairman of the company.

                Nelson said the company is on target with its
                product development and sales and profitability
                targets, and will review where it stands financially
                and with its product lineup before setting a future
                course for an initial public offering.

                PGP, which has been in operation for a year, is
                scheduled to begin open beta testing for its Personal
                Privacy version 5.0 tomorrow. The commercial
                version is slated to be released later this month.

                Meanwhile, the crypto company has initiated a few
                acquisitions. One of its most recent was the March
                buyout of Zoomit, a directory technology that
                combines private intranets, pubic extranets, and the
                Internet.
-- 
A picture tells a thousand words.
		Stego


     -----BEGIN GEEK CODE BLOCK-----
     Version: 3.1
     GCS/IT/S d--() s+: a-- C++++(++)$ ULS+++@ P++@ L+(++)$ E- W+(+++)$
     N++$ !o K-? w++(+++)$ !O+>++ !M !V PS+(+++)@ PE(++)@ Y++$ PGP@ t+@
     5++@ X++>$ R+++>$ tv+@ b+@ DI+++>$ D+++@>$ G@ e++@>++++ h r* y+ 
     ------END GEEK CODE BLOCK------