Victor Lund Elected Chairman of DemandTec's Board of Directors
Retail industry veteran to guide company's development
SAN CARLOS, CA – February 5, 2007 – DemandTec, Inc., the leading provider of Consumer-Centric Merchandising, Sales and Marketing software for retailers and consumer products firms, has elected Victor L. Lund non-executive Chairman of the company's Board of Directors. Lund has been on DemandTec's board since April 2005.
"In the 20 months I've served on the DemandTec board, I've seen the company make excellent progress in the development and marketing of powerful new solutions for retail and consumer products companies. DemandTec provides a way for its clients to improve the way they understand and engage their consumers, thereby helping them to develop a competitive advantage," said Lund.
Lund was Vice Chairman of Albertson's, Inc., a leading supermarket chain, from June 1999 to June 2002. He also served as Chairman of the Board of American Stores Company, a $20 billion grocery retailer acquired by Albertson's, from 1995 to 1999, and Chief Executive Officer of American Stores Company from 1992 to 1999. Lund currently serves on the Board of Directors of Borders Group, Inc., Del Monte Foods Company, NCR Corporation, Service Corporation International and I4 Commerce.
"The election of Vic Lund to Chairman of our Board of Directors marks another important step in DemandTec's development. I have enjoyed working with Vic and he has earned the confidence and trust of both the Board of Directors and executive management team through his excellent service," said Dan Fishback, President and CEO of DemandTec.
About DemandTec
DemandTec's Consumer-Centric Merchandising, Sales and Marketing software helps retailers and consumer products manufacturers strategically plan, optimize and execute pricing, promotion and markdown programs based on a quantified understanding of consumer demand. DemandTec customers include leading retailers such as Advance Auto Parts, Best Buy, Circle K Stores, Delhaize America, Giant-Carlisle, H-E-B Grocery Co., Monoprix and Safeway. More than 2,000 consumer products manufacturers use DemandTec. For more information, please visit www.demandtec.com.
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