KDS appoints new CFO

KDS is appointing Mr Adi Sossover as chief financial officer of the company.  Mr Sossover’s appointment is part of KDS’ ongoing global business expansion.

KDS is the pre-eminent provider of online corporate travel solutions in Europe and has implemented a number of strategic initiatives to extend this position globally.  In addition to strengthening its management team with senior appointments in Germany, North America and the UK, KDS secured private equity financing from Accel Partners and Atlas Venture in October 2005.  This funding has played an integral role as KDS accelerates the company’s international expansion.

Mr Sossover joins KDS with 18 years of experience in the software, solutions and services industry.  He most recently served as Vice President of Finance and Administration Europe for Tecnomatix/UGS, a worldwide leader of product life management software solutions.  Mr Sossover has otherwise held high ranking European finance positions for nearly two decades. He graduated at the University of Jerusalem in Economics, Finance and Accounting.

KDS’ momentum is also reflected in its customer base, as its success in generating new client relationships in 2005 has continued throughout 2006.  Major new clients such as Airbus, Arcelor, Boston Scientific and Marsh have been added to the KDS roster, whilst the company also remains dedicated to guiding existing clients toward increased adoption rate and constant cost reduction.  This momentum demonstrates KDS’ commitment to cementing its position as the provider of choice in corporate travel.

“KDS is providing solutions to both large corporations and travel management companies in their efforts to increase productivity, save costs and optimise travel spend.  With over a decade of experience in the IT business travel industry, with thousands of man-hours of experience in project management and with a very good position on the market, KDS is set to lead the race for online Travel & Expense management.” said Yves Weisselberger, KDS CEO.  “Adi’s strong expertise of international software companies will play a key role in KDS’ ongoing business expansion and we are very pleased he has joined our management team.”

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“I am very proud to join KDS at such an exciting stage in its growth. KDS has a strong development potential,” said Adi Sossover, newly appointed CFO of KDS.  “KDS is extremely well positioned to help client companies as they meet the challenges associated with taking complete control over their entire travel programmes.”

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