David Gerth Joins ScanSoft as Chief Financial Officer

PEABODY, MA - ScanSoft Inc. (NASDAQ: SSFT) announced that it has named David Gerth to the position of senior vice president and chief financial officer. Prior to joining ScanSoft, Gerth held senior level financial positions at several software and high technology companies, including chief financial officer of Allaire Corporation. At Allaire, Gerth helped guide the company through an initial public offering and drove the company toward its leadership in Web software and eventual merger with Macromedia. In this role, Gerth demonstrated his ability in achieving profitable results during periods of rapid growth and, through an IPO and commitment to increasing shareholder value, proved his skills in communicating effectively with Wall Street. "As the leading provider of speech and imaging productivity solutions, ScanSoft continues to take steps to strengthen its operations," Paul Ricci, ScanSoft chairman and CEO, said. "David's appointment gives ScanSoft the ability to apply his diverse set of experiences and skills to help refine our business model, improve profitability, strengthen our balance sheet, recognize additional synergies from recent acquisitions and enhance overall shareholder value. ScanSoft's management and board of directors are pleased to further strengthen our team through this key appointment." Gerth replaces Richard Palmer, who will step down as part of the integration activity surrounding ScanSoft's acquisition of Boston-based SpeechWorks, Inc. Palmer will remain at ScanSoft as senior vice president of corporate development, concentrating on the company's strategic initiatives, including future mergers and acquisitions. "Rich has made a lasting impression on the company through significant contributions that shaped the financial stability and resources of the company, facilitating much of our growth," said Ricci. "We are pleased that he will remain in a vital corporate development role at ScanSoft, one through which the company will continue to benefit from his business and financial acumen."
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