Metaswitch Networks Names Kevin DeNuccio as CEO to Drive Next Phase of Growth
February 04 2010 - 4:00AM
Marketwired
Metaswitch Networks today signaled its ambition to become a major
telecommunications vendor, with the appointment of successful
industry executive Kevin DeNuccio as chief executive officer. At
the same time, John Lazar has been promoted to chairman.
"As the economy eases out of recession, Metaswitch is poised to
emerge as a significant player with global scope. This is a
tremendously exciting prospect -- but also a challenge for us as an
organization to manage that growth and make the most of the
opportunity," said Lazar. "The board, including myself, unanimously
agreed that Kevin's extensive CEO experience, supported by my
ongoing close involvement as chairman, will create the best
possible leadership team for this next phase in the company's
evolution."
A veteran of Redback Networks (now Ericsson) (NASDAQ: ERIC),
Cisco Systems and Bell Atlantic (now Verizon) (NYSE: VZ), DeNuccio
has demonstrated multiple times his ability to turn promising early
and mid-stage businesses into multi-billion dollar global players.
At Redback, as CEO, he oversaw the company's transformation into
the fastest growing edge router vendor and subsequent acquisition
for $2.1 billion. At Cisco, as senior vice president, he grew the
worldwide service provider division from a $500 million, 500-person
organization to $4 billion and 4,000 employees in the space of four
years.
DeNuccio comes into the role with intimate knowledge of the
company having been an independent director on the board since
December 2008. In addition to Metaswitch, he also serves on the
boards of SanDisk (NASDAQ: SNDK) and Catholic Charities.
"I have spent much of the last 12 months thinking deeply about
where the industry is headed," said DeNuccio. "One major issue is
that over the last decade, established vendors with multiple
shrinking revenue streams have cut back on R&D, and lost the
formula, people and agility to deliver the continuous rapid
innovation the industry and carriers need.
"I soon realized Metaswitch had a quite extraordinary
combination of talent and technology -- traditional telephony and
exciting new mobile, IP-based applications -- that could fill this
innovation gap and propel it into the ranks of the major vendors
worldwide. So, when the opportunity arose to help drive that
strategy from the inside, I jumped at it. The timing just worked
out perfectly, and I'm thrilled and excited to be helping the board
and senior management team execute on our shared vision, and to be
working closely with our existing customers to innovate and deliver
the solutions they need today and for the future."
Metaswitch Founder and former Chairman Ian Ferguson is also
extremely enthusiastic about the changes and remains on the board
in his capacity as chairman of the company's Employee Benefit
Trust.
Live Conference Call for Press and Analysts
Press and analysts are invited to a live conference call at
11:30 a.m. Eastern Standard Time today to discuss the announcement,
including Q&A with Kevin DeNuccio and John Lazar. The
conference call may be accessed in the United States by dialing
(888) 217-4032 and using access code 627 473 74. The conference
call may be accessed internationally by dialing
+1-617-614-2737.
About Metaswitch Networks
Metaswitch Networks is a leading provider of the technologies
and solutions that are powering the migration of communications
networks to open, next-generation architectures. Hundreds of
network operators worldwide depend on its reliable, scalable
carrier systems solutions, while its high performance,
fault-tolerant software technologies are licensed by all the
world's leading communications equipment manufacturers. For more
information, visit www.metaswitch.com.
Copyright © 2010 Metaswitch Networks. "Metaswitch" is a
registered trademark. Brands and products referenced herein are the
trademarks or registered trademarks of their respective
holders.
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