Business Context and Reporting Period
This Form 8-K Current Report was filed by Blackbaud, Inc. on June 13, 2007. The filing addresses a corporate governance event involving the appointment of a new director to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The material change reported is the appointment of Timothy Chou as a member of the Board of Directors, effective June 13, 2007. Mr. Chou was also appointed to the Compensation Committee. He will serve until the 2008 Annual Meeting of Stockholders or until his successor is elected.
Management Commentary and Background
The Nominating and Corporate Governance Committee conducted the search for director candidates, seeking individuals with strength of character, mature judgment, career specialization, relevant technical skills, diversity, and independence. Mr. Chou was selected based on his extensive background in software as a service (SaaS). Key aspects of his background include:
- Co-founder of Openwater Networks, Inc.
- Former President of Oracle On Demand (Oracle Corp) from 1999 to 2005.
- Author of "The End of Software" and recognized industry leader in SaaS.
- Former Chief Operating Officer of Reasoning, Inc. and various management roles at Tandem Computers.
- Board member of Embarcadero Technologies since 2000 and former advisory board member for WebEx, Inc.
- Lecturer in computer science at Stanford University for over 15 years.
The filing states there were no arrangements or understandings between Mr. Chou and any other person regarding his appointment.
Investor Verification Checklist
- Confirm the effective date of Timothy Chou's board appointment (June 13, 2007).
- Verify Mr. Chou's specific committee assignments (Compensation Committee).
- Review Mr. Chou's prior roles at Oracle and Openwater Networks to assess potential strategic alignment with Blackbaud's SaaS initiatives.
- Check for any subsequent filings regarding the 2008 Annual Meeting of Stockholders to confirm the duration of his term.