Saba CEO to Leave Post

March 3, 2013 – Bobby Yazdani, chairman, CEO and director of Saba, a provider of human capital management (HCM) solutions, has stepped down from the company’s leadership team. Shawn Farshchi, Saba’s EVP and chief operating officer, has been named interim chief executive officer. Mr. Farshchi, a 30-year veteran of building high-technology companies, will also retain his responsibilities as COO. In addition, the board of directors has separated the roles of chairman of the board and CEO and appointed independent director Bill Russell to the position of non-executive chairman. Departing chief, Mr. Yazdani, said: “The board and I have agreed to bring in new leadership, and we share the view that Saba is very well positioned to pursue large growth opportunities. I believe the best years are still ahead for Saba and that the next generation of leadership will help deliver on that promise.”