Cabletron Appoints Senior Nynex Official, Don Reed, as New President and CEO.ROCHESTER, N.H.--(BUSINESS WIRE)--Aug. 6, 1997-- Company Co-Founder, Bob Levine, to Retire Cabletron Systems (NYSE NYSE See: New York Stock Exchange :CS) today announced that Don Reed, 53, a senior officer at NYNEX NYNEX New York-New England & X for the Unknown (Telephone Company) NYNEX New York Network Exchange , has been named its new president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Reed will officially assume the post on September 1. Current President and CEO, S. Robert Levine announced his intention to retire on December 1 from the company he co-founded with Craig Benson Craig Benson (born New York City, October 8, 1954) came to public attention by founding Cabletron Systems, now known as Enterasys Networks that became one of the largest employers in New Hampshire, and was governor of the state from January 2003 to January 2005. in 1983. Levine will remain with Cabletron through November, supporting Reed in the transition of leadership. Benson will continue in his role as chairman, focusing on strategic company issues, while migrating day-to-day responsibilities to Reed. "With the rapid convergence of voice, video and data, Don Reed's extensive telecommunications experience as a 30-year veteran of NYNEX, including service as President and CEO of one of its major operating units operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon , provides Cabletron with expert knowledge in key markets," said Craig Benson, chairman. "His experience running a multi-billion dollar corporation, coupled with his proven leadership abilities and involvement in promoting and developing policies for a global information infrastructure, make him a perfect choice for Cabletron's future." "The last 14 years have been an extraordinary time for Cabletron," Levine said. "But today, with a superior line of next-generation networking products and services, an infusion over the last two years of experienced and talented senior managers, and now, a seasoned leader of the caliber of Don Reed, I can retire confident that Cabletron's best years lay ahead." Reed was named president and group executive of NYNEX in January 1995. Prior to this, he was president and chief executive officer for NYNEX in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. since 1993 and executive vice president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of New England Telephone Verizon New England, Inc., formerly New England Telephone & Telegraph Co., is a Bell Operating Company that serves the majority of New England. It is an operating unit of Verizon Communications. New England Telephone & Telegraph Co. since April 1991. He was also president of NYNEX Information Resources (1) The data and information assets of an organization, department or unit. See data administration. (2) Another name for the Information Systems (IS) or Information Technology (IT) department. See IT. Company, the corporation's directory publishing subsidiary, in the late 80's. He joined New England Telephone in 1966. In addition to his work with NYNEX, Reed is also involved in the global public policy effort to promote and develop the information infrastructure. He participated in the Business Roundtable Business Roundtable (BRT), an association consisting of the chief executive officers of major U.S. corporations that was founded in 1972 through the merger of the three preexisting business organizations. efforts of the G7 Information Society Summit in Brussels in 1995. Reed also serves as a Commissioner of the Global Information Infrastructure Commission and is its Policy Task Force co-chair, a post he shares with the chairman of Fujitsu. Reed is also Vice Chairman of the US - Thailand Business Council, and sits on the Advisory Board of the Center for Strategic & International Studies. About Bob Levine and Craig Benson "The phenomenal growth and success of the two-man operation that Craig and I started in my garage almost 15 years ago, has outpaced even my wildest dreams and expectations," said Levine. "Few people would have thought we could turn a small cabling company into a computer networking
Computer networking is the engineering discipline concerned with communication between computer systems or devices. leader. I am proudest of the fact that we have done it the right way: By an unyielding focus on research and development, service and support, and seamless product solutions. All told, we have done more to protect our customers' investments in networking than anyone else in the industry." "Bob and I have grown up with this business," Benson said. "He played a huge role in building Cabletron into the networking powerhouse that it is today. Bob will be missed. But his passion for doing whatever it takes to serve our customers is very much a part of what has been, and will always be Cabletron." Benson and Levine co-founded Cabletron Systems in 1983. Under their leadership, the company has grown to become one of the world's largest providers of computer networking hardware and software. As an independent manufacturer's representative for an electronic cable and power supplies company, Levine met Benson as a customer. When no company could supply Benson's cabling needs, the two recognized an untapped market opportunity. The company they founded quickly grew beyond their modest beginnings in cables and network test equipment to become a developer and manufacturer of award-winning network hubs, switches and management software. In 1991, Levine and Benson were honored as "Entrepreneur of the Year" by Inc. magazine. Outside of Cabletron, Levine is an active philanthropist whose personal gifts to hospitals, schools and law enforcement agencies A law enforcement agency (LEA) is a term used to describe any agency which enforces the law. This may be a local or state police, federal agencies such as the Federal Bureau of Investigation (FBI) or the Drug Enforcement Administration (DEA). has totaled millions of dollars and provided needed support to thousands of people. One of his largest donations helps fund cancer research at a leading teaching hospital in his native Worcester, Massachusetts. About Cabletron Systems Cabletron Systems is a recognized leader in providing high- performance intranet and Internet solutions, including LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. and WAN switches, remote access products and advanced network and systems management software. Under its Synthesis product framework, Cabletron markets products to businesses and customers throughout the world for linking and managing enterprise-wide networks. With corporate headquarters in Rochester, NH, Cabletron's common stock is traded over the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol CS. -0- Cabletron's World Wide Web site can be reached on the Internet at http://www.cabletron.com . CONTACT: Cabletron Systems Darren Orzechowski (603) 337-1282 darreno@ctron.com |
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