SAN MATEO, Calif., — October 1, 2008— NetSuite Inc. (NYSE: N), today announced that Keith D. Grinstein, a member of its Board of Directors, passed away on Sunday, September 28. Mr. Grinstein had been a director of NetSuite since September 2006 and served as the chairperson of the Nominating and Governance Committee of the Board of Directors.
"The sudden loss of our dear friend and business colleague Keith Grinstein brings great sadness to the entire NetSuite family," said Zach Nelson, CEO of NetSuite. "Our deepest sympathies go out to Keith's family and to all who knew him well. Keith played an important role in the growth and success of NetSuite. He brought to our company a wealth of experience as a board member, business executive and successful technology investor. His talents, wisdom and guidance will be missed."
Mr. Grinstein served as a partner at Second Avenue Partners, an investment group. Starting in 1996, Mr. Grinstein held various senior positions at Nextel and Nextel International, wireless communications companies, including President and CEO of Nextel International and Senior Vice President for Nextel Communications, Inc. Mr. Grinstein retired as Vice Chairman of Nextel International in 2002. Mr. Grinstein was the non-employee chairperson of the board of directors of Coinstar Inc., a business equipment company, and also served as a director of labour Ready, Inc., a provider of temporary manual labour, Nextera Enterprises, Inc., a holding company of Woodridge Labs, Inc., a developer and marketer of branded consumer products and F5 Networks, Inc., an application traffic management software company. He held a B.A. from Yale University and a J.D. from Georgetown University Law Centre.
NetSuite Inc. is a leading vendor of on-demand, integrated business management software suites for mid-market enterprises and divisions of large companies. For information about NetSuite Inc., please visit www.netsuite.com.