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IKON Announces Executive Promotions to Improve Operations

Press release from the issuing company

VALLEY FORGE, Pa.--Oct. 15, 2002--IKON Office Solutions, Inc. today announced the promotions of three IKON executives to new positions of responsibility, reflecting the Company's commitment to streamline and centralize operations to enhance customer services and IKON's responsiveness to customer needs. Carlyle Singer has been appointed to a newly created senior executive position, Senior Vice President of Operations, and will lead an operations team that delivers centralized support services, including supply chain and customer care. Ms. Singer will be reporting directly to IKON's President and Chief Executive Officer, Matthew Espe. As SVP of Operations, she will ensure that the Company is structured to support the needs of IKON's sales and service teams within their local marketplaces to improve and enhance its quick and effective response to customers. CEO Matthew Espe said, "Carlyle is an IKON veteran with a strong understanding of operational issues and a customer-centric perspective. She will provide the leadership to IKON's centralized support teams to help us to ensure that, regardless of location, every IKON customer has a consistently positive experience every time he or she interacts with IKON." Ms. Singer was named IKON's Vice President and Controller in 2000, and was responsible for field operations reporting of financial information and management of corporate accounting, as well as real estate operations, risk management, sales and use tax and income tax. Previously, Ms. Singer served as President of IKON France. In 1986, she was Financial Vice President for Basetec Office Solutions, which was subsequently acquired by IKON. Ms. Singer graduated magna cum laude from Harvard College in 1978 and received her MBA from Stanford University in 1982. Ted Strand has been promoted to the position of Vice President and Controller. Mr. Strand joined IKON in 1999 as Assistant Controller, and prior to that held a variety of financial and accounting positions for AMP and also IBM, where he spent 31 years before his last assignment as Program Director of Accounting for IBM Japan. IKON also announced that Simon Knight has been promoted to Senior Vice President and Chief Information Officer, reporting directly to the CEO. Mr. Knight will continue IKON's programs to standardize and centralize IKON's IT infrastructure while he continues the rollout of the Oracle e-Business Suite across North America. Mr. Espe said, "Simon led the successful implementation of the Oracle e-business platform in our United Kingdom operations and he has made remarkable progress in the task of designing a new system and processes using the Oracle platform in North America. He has the experience and skills to provide outstanding leadership and ongoing support to IKON's company-wide IT team. Simon and IKON's information technology team will play a pivotal role in the Company's progress, as our customers demand more and more services through our e-business initiatives." Mr. Knight was promoted from his prior position as Vice President of IKON's Enterprise Systems group. He joined the Company in 1996, and previously held a variety of positions with General Electric and Jensen & Partners International.