Brian Sereda Appointed Acting Chief Financial Officer of Terabeam and Proxim Wireless
June 21 2006 - 9:00AM
Business Wire
Terabeam, Inc. (NASDAQ:TRBM), a leading developer and supplier of
broadband wireless solutions, today announced that Brian Sereda,
Vice President of Finance and Controller, has been appointed to
serve as Acting Chief Financial Officer and Acting Treasurer for
Terabeam, Inc. and its wholly owned subsidiary Proxim Wireless
Corporation. This appointment is a result of the medical condition
of Patrick Milton, Chief Financial Officer and Treasurer, and his
transition to disability leave. Brian has over 20 years of finance
and accounting experience in high growth technology companies. He
was most recently Vice President of Finance, Corporate Controller
for Portal Software, a leading worldwide provider of billing and
revenue management solutions for the global communications and
media markets. Prior to Portal, Brian held senior finance roles at
Credence Systems Corp., a leading semiconductor test equipment
manufacturer, and Handspring Inc., a former leader in handheld
computing that was acquired by Palm Inc. Robert Fitzgerald,
Terabeam's CEO, stated "We deeply regret the circumstances
underlying this appointment and wish Pat all the best for a speedy
recovery. However, our Board of Directors and the management team
are pleased to have someone with Brian's experience and
capabilities who can continue the strong financial leadership at
our company." About Terabeam and Proxim Wireless Terabeam, Inc. has
two primary subsidiaries Proxim Wireless Corporation and Ricochet
Networks, Inc. Proxim Wireless is a global pioneer in developing
and supplying scalable broadband wireless networking systems for
enterprises, governments, and service providers. From Wi-Fi to
wireless Gigabit Ethernet - its WLAN, mesh, point-to-multipoint,
and point-to-point products are available through its extensive
global channel network, backed by world-class support. Proxim is a
Principal Member of the WiMAX Forum and is ISO-9001 certified.
Ricochet Networks, Inc. is a leading portable Wireless Internet
Service Provider (WISP) with operational markets in Denver,
Colorado and San Diego, California. Additional information about
Terabeam can be found at its website located at
http://www.terabeam.com or by contacting the company by telephone
at 413-584-1425 or by email at IR@terabeam.com. Information about
Proxim and its products and support can be found at
http://www.proxim.com Safe Harbor Statement Statements in this
press release that are not statements of historical facts are
forward-looking statements that involve risks, uncertainties, and
assumptions. Our actual results may differ materially from the
results anticipated in these forward-looking statements. The
forward-looking statements involve risks and uncertainties that
could contribute to such differences including those relating to
and arising from the uncertainty as to when and whether Mr. Milton
will resume his roles as chief financial officer and treasurer and
future decisions our Board of Directors may make concerning the
permanent staffing of financial positions at our company. Further
information on these and other factors that could affect our actual
results is and will be included in filings made by Terabeam from
time to time with the Securities and Exchange Commission and in our
other public statements.
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