(c) Appointment of Chief Operating Officer and Chief Marketing Officer
On March 9, 2007, the Board of Directors of Datawatch Corporation (the “Company”) appointed Kenneth P. Bero as Chief Operating Officer & Senior Vice President of Sales of the Company and appointed John Kitchen as Chief Marketing Officer & Senior Vice President of the Company. Both appointments are effective as of April 1, 2007.
Mr. Bero, age 53, was most recently the Senior Vice President Enterprise Solutions for the Company. In June 2006, Mr. Bero joined the Company as Vice President of Enterprise Sales for North America. Prior to joining Datawatch, Mr. Bero served as Vice President, North American Channel Sales at Business Objects. Mr. Bero also held the position of Chief Operating Officer and Executive Vice President of Sales and Marketing at NAVIDEC, a NASDAQ listed software development and services company.
Mr. Kitchen, age 52, has worked for the Company for over nine years, most recently as Senior Vice President of Desktop & Server Solutions. Prior to joining Datawatch, Mr. Kitchen provided marketing services to a variety of high tech companies including Citrix Systems, Inc., Sun Microsystems, Inc. and Teradyne Inc., as a founder and partner of Spiessl Kitchen Vosik Advertising.
On March 15, 2007, the Company issued a press release regarding the appointment of Mr. Bero and Mr. Kitchen. The press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.
(e) Salary Increases
In connection with their new appointments, effective April 1, 2007, Mr. Bero’s base salary was increased from $170,000 per year to $200,000 per year and Mr. Kitchen’s base salary was increased from $176,000 per year to $190,000 per year. Also on March 9, 2007, the Board of Directors approved a base salary increase for Robert W. Hagger, the Company’s President and Chief Executive Officer from $276,000 per year to $300,000 per year. Mr. Hagger’s base salary increase is retroactively effective as of March 1, 2007.
