Contact: John Cachat 19702 Center Ridge Road
Cachat & Associates Rocky River, Ohio 44116
Phone 440-9150-2650 www.johncachat.com Cachat & Associates
jmc@johncachat.com
Press Release
Former IQS Chairman and Founder Did Not Leave
Cachat clarifies recent software company email
Cleveland, Ohio, October 14th, 2009: Yesterday, October 13th at 3:26 PM, IQS, Inc. and
its President and CEO, Michael Rapaport, sent out what appears to be a mass email
to IQS customers stating “As you may know, John Cachat, former chairman, left IQS
to seek other opportunities.” The email, with the subject title ‘IQS Fall Update,’ was
obtained by Cachat when a copy was forwarded by a concerned IQS customer at
3:44 PM. Cachat felt compelled to issue a press release to communicate the truth. “I
worked with a lot of the existing IQS customers and I do not want them to think that I
cashed out and abandoned them. This was not my idea. I was terminated,” stated
Cachat.
IQS, Inc. (www.iqs.com) was founded by John M. Cachat over twenty years ago.
The company is in the business of software development and sales which addresses
quality assurance, quality control, inspection and business performance software
systems in manufacturing companies. Over the history of the company, Cachat was
personally involved with several large customers, including: Eaton Corporation,
Parker Hannifin, MTD Products, Shiloh Corporation, the US Food and Drug
Administration (FDA), ABB, PolyOne, Alcoa, and a host of small business that relied
on IQS’ expertise, advice, and world class customer service.
“IQS used to be more than a software vendor. IQS used to be a trusted advisor.
I was unwilling to ignore my fiduciary responsibilities to the minority shareholders and
put aside my personal feelings about the core philosophy and culture that made IQS
successful. I still care a lot for the IQS employees and customers,” stated Cachat.
For Release 9 a.m. EDT, October 14thrd, 2009
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Page 2 Former IQS Chairman and Founder Did Not Leave
Cachat has filed a lawsuit against the company, IQS, Inc., the IQS Board Members
and Apex Venture Partners (www.apexvc.com). Apex is a Chicago based venture
capital fund.
Cachat will be announcing on November 3rd, 2009, when the business restrictions
on him from IQS will expire, about his plans for starting a new business. Cachat has
spent the last year researching marketplace needs and determining the next
generation technology to support business process improvement efforts. Cachat has
set up several means for the marketplace to contact him, including: FaceBook,
LinkedIn, and his personal blog at http://johncachat.blogspot.com. He can be
contacted at jmc@johncachat.com or via his website www.johncachat.com.