GUELPH, Ontario — Texada Software last month named Don Whitbeck president and CEO, replacing chairman William Swisher who will continue as chairman. Swisher, who is also chairman and CEO of Stephenson's Rental Services, served as Texada CEO while the company searched for a replacement.

Whitbeck agreed to purchase 1 million units of Texada under a private placement. He brings more than 25 years of software industry experience including global sales, marketing, operations and general management. Whitbeck previously was CEO at EveryWare Development and Veredex Logistics. His education includes a bachelor of engineering from McMaster University and an MBA in finance and marketing from the Rotman School of Business.

“Our ability to attract key people says a lot about the strength of our company and the attractiveness of our segment,” Swisher said.

Whitbeck will purchase the 1 million shares for 6 cents per unit for gross proceeds of $60,000. The net proceeds from the placement — which is subject to regulatory approval and was scheduled to close in early April — will be applied to working capital. Texada has also agreed to grant to Whitbeck options to purchase up to 600,000 common shares of Texada at a price of 10 cents per share.