Data warehousing and decision support outfit Informatica Corp has announced that it has appointed Craig Klosterman as chief financial officer and senior vice president. Klosterman comes to Informatica from the position of CFO and COO at Lumisys Inc, a medical imaging company he helped take public in 1995. Before that he held executive management positions at Voysys Corp and KLA Instruments Inc. A spokesperson for the private company said Klosterman’s hire signals the next phase in the growth of its management. The CFO position had not previously existed, with those duties historically handled by a VP of finance. Informatica said Klosterman will play a strategic role in the process of its initial public offering, something which should happen in the first half of next year. The move comes at a time when the company insists it is on solid ground, as evidenced by a strong second quarter during which it extended its business by targeting the growing market for analytic applications. During the period, Informatica entered into partnerships with SAP AG and Hyperion Solutions and claims it posted more than 40 new customer wins including Merrill Lynch, John Hancock, Shell Chemicals Ltd, Blue Cross Blue Shield, Met Life, Qualcomm Inc and Citicorp.
