Finance Articles

Connextions, Inc. Bolsters Finance and Operations with Addition of Two Seasoned Professionals

Orlando, FL (PRWEB) November 14, 2007 -- Connextions, Inc. (www.connextions.com) today announced that it has hired Steven E. Russell as Chief Financial Officer ? an executive with nearly 20 years of finance experience in senior positions with companies including Lucent Technologies, Seagram, Pfizer and Ford Motor Company. Connextions has also hired Christopher M. Gates, who brings 14 years of finance and management experience with Sitel Corporation, to serve as Senior Vice President, Operations and Finance.

?These two senior appointments,? according to Connextions CEO Jack LeFort, ?are consistent with our plan to take Connextions to the next level of sophistication and discipline, as we continue to build momentum and market penetration as a provider of outsourced business process solutions; particularly for health insurance plans.? Over the past three years, Connextions has established a leadership position in helping health insurance providers to build their consumer-direct capabilities and brand loyalty, as the industry establishes a B2C retail orientation in the face of cost-shifting from employers to individual consumers.

Steve Russell?s business career includes positions with Ford Motor Company as a financial analyst, with Pfizer as treasury manager, and with Seagram as a director of corporate finance, where he was responsible for managing operations and finance strategies at three business lines. At Lucent Technologies, as International Treasurer, Mr. Russell supervised all international treasury functions and vendor financings for customers. Most recently, he has served as Chief Financial Officer at three emerging-growth companies, including Atlanta-based Pathfire, a digital media distribution company. Mr. Russell is a graduate of the U.S. Military Academy at West Point, and holds an M.B.A. from Harvard Business School.

Chris Gates has held a number of positions of increasing responsibility at Sitel Corporation, a customer care and back office processing firm with 155 locations in 27 countries. Mr. Gates began his career with Sitel following graduation from Creighton University, serving as controller for two $15 million divisions. He subsequently served as finance director for global business development, as vice president of finance, and most recently as Co-Chief Operating Officer and Regional Controller for Sitel?s North American, Indian and Philippines operations. During his tenure at Sitel, the company grew from a $70 million private operation to a $480 million public company, prior to its sale to Client Logic in 2006.

Last month, Connextions announced the partial acquisition of Aha! Software LLC, a Denver-based pioneer in predictive analytics technologies that Connextions plans to integrate with its proprietary bConnected CRM platform that healthcare organizations currently use to manage touch points at each stage of the customer lifecycle ? including initial sales, customer service and retention. Earlier this month, Connextions also announced establishment of its third customer care facility, which will employ more than 750 people in Jeffersonville, Indiana.

Connextions Inc. is a technology-based business process outsourcing firm with broad expertise in the healthcare industry; assisting well-known health insurance plans and healthcare providers in their efforts to attract, transact with, and retain individual consumers. Connextions is a privately held company, and part of the New Mountain Partners II, L.P. portfolio, a private equity fund sponsored and managed by Manhattan-based New Mountain Capital LLC.

About Connextions Inc.:

Founded in 1992, Connextions? nearly 2,000 professionals provide technology-based business solutions for a long list of America?s best-known corporate and healthcare organizations, including Federal Express, Sprint, Mercedes-Benz, Olympus, SanDisk, Kaiser-Permanente, Colonial Penn, Caremark, Assurant Health and Novartis. See www.connextions.com.

About New Mountain Capital:

New Mountain Capital, LLC is a New York-based private equity firm investing for long-term capital appreciation through direct investment in growth equity transactions, leveraged acquisitions and management buyouts. New Mountain seeks out the highest quality growth leaders in carefully selected industry sectors, and then works intensively with management to build the value of those companies. See www.newmountaincapital.com.

For additional information:

Gordon G. Andrew

Senior Vice President

Connextions, Inc.

(407) 563-4440

Cell: (609) 987-0200

gandrew @ connextions.com

# # #

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