Corio lures three execs from competition
The application service provider lures three new senior level executives from Oracle and BEA Systems.
The company, which competes in the heavily touted ASP, or application service provider market, named former Oracle executives Sal Jamil and Laurent Pacalin as vice president of professional services and vice president of business development and alliances, respectively. Corio also said former executive at middleware and server maker BEA Systems Arthur Chiang will serve as the company's vice president of industry solutions.
In recent months, database software giant Oracle has seen a number of its top level executives leave to work for competitors or to head start-ups. In late August, Corio chief executive George Kadifa left Oracle, where he was senior vice president of the worldwide industrial applications division. Three other top level Oracle executives joined Kadifa at Corio at the same time.
Corio said its new executives bring with them industry expertise in the areas of management, consulting, marketing, and business development.
The fast-growing market for application hosting and rentals is projected to reach $2 billion by 2003, representing a 91 percent annual growth rate, according to market analysis firm International Data Corporation (IDC). Corio competes in the ASP space against USinternetworking, Breakaway Solutions, USWeb/CKS, and others, including business software makers Oracle, SAP, and PeopleSoft.