Concurrent Computer Corporation Announces Executive Reorganization.Business Editors/Technology Writers ATLANTA--(BUSINESS WIRE)--Oct. 2, 2000 -- Jack Bryant to Assume Position of Chief Executive Officer -- -- Steve Nussrallah to Be Appointed Chairman of the Board -- Concurrent Computer Corporation Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . (Nasdaq:CCUR CCUR Center for Crops Utilization Research ) announced today Jack Bryant, current President of the VOD See video-on-demand. VoD - video on demand Division - XSTREME, will be promoted to the position of Chief Executive Officer to take effect simultaneously with the Company's Annual Shareholder Meeting, October 26, 2000. Steve Nussrallah, who has been instrumental in building the VOD business for the Company, will simultaneously be appointed by the Board of Directors to the position of Chairman of the Board. At that time, Steve Nussrallah will replace Morton Handel, current Chairman of the Board, who will remain a director. Steve Nussrallah commented, "Two years ago, we refocused the company to enter a completely new market - a market that was about to explode - Video-On-Demand. We had the technology to make a superior product. We built the team, made the partnerships, and laid the foundation to become a world-class VOD company. Today, we have secured the early leadership position and are well poised for the future. As Chairman of the Board, I am pleased that I will be able to remain a part of the bright future that lies ahead for this dynamic company." Jack Bryant, who was hired to lead the XSTREME management team in July of this year, brings over 18 years of cable television related experience to Concurrent. Most recently, Jack Bryant was the President of the Network Technologies Group at Antec Corporation, a leading communications technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry company that specializes in hybrid-fiber-coax (HFC 1. (networking) HFC - Hybrid Fiber Coax. 2. (hardware) HFC - hydrofluorocarbon. )-based networks. As President of the Network Technologies Group, Jack was responsible for leading the product management, engineering, technical support, and sales efforts for the company's broadband transmission, network powering, and Keptel outside plant products. In this position, he successfully managed the re-design of the entire broadband transmission product offering, growing that business unit 100% over the last two years. Jack Bryant commented, "I am excited about this wonderful opportunity. Concurrent has established itself as the market leader and fiscal year 2001 already looks to be another great year in terms of VOD deployments. We plan to take full advantage of the wealth of opportunities before us. I look forward to continuing the positive momentum Steve and the Concurrent team have begun and am determined to solidify Concurrent's position as the leading VOD provider worldwide." Morton Handel, a director since 1991 and a former Chairman of the Board, stated, "I am sad to see Steve vacate To annul, set aside, or render void; to surrender possession or occupancy. The term vacate has two common usages in the law. With respect to real property, to vacate the premises means to give up possession of the property and leave the area totally devoid of contents. the 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. position, however, I know the opportunity in front of him fulfills one of his lifelong dreams. Steve has helped us position this company as the leader in the VOD marketplace and we are pleased Steve has accepted the position of Chairman of the Board. He has my full endorsement and my continued support." Steve Nussrallah will be taking a full-time position as General Partner with Noro-Moseley Partners - one of the largest and oldest venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] in the Southeast. Since 1983, Noro-Moseley Partners has created five funds totaling over $575 million in capital and has invested in 115 companies. Noro-Moseley recently announced the closing of their fifth fund, NMP-V, a $320 million venture capital fund, the largest ever in the Southeast. Concurrent will recognize a charge of approximately $1.2 Million or $.02 per share in its operating results for the 2nd Quarter ending December 31, 2000 for compensation and benefits payable to Mr. Nussrallah. About Concurrent Concurrent Computer Corporation (http://www.ccur.com), headquartered in Atlanta, Georgia, is a leading provider of high-performance computer systems, software, and servers. Concurrent Computer Corporation's XSTREME Division is the leading supplier in the emerging digital video server marketplace. This market includes the broadband/cable, corporate training, education, hospitality, and in-flight entertainment In-flight entertainment (IFE) refers to the entertainment available to aircraft passengers during a flight. After World War II commercial aviation flights became a daily event in which entertainment was requested by passengers to help the time pass. industries. Concurrent is also a leading provider of high-performance, real-time computer systems, solutions, and software for commercial and government markets. The Company's 30-year old real-time business focuses on strategic market areas that include hardware-in-the-loop and man-in-the-loop simulation; data acquisition; industrial systems; and software and embedded applications. Operating in 32 countries worldwide, Concurrent provides sales and support from offices throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , Europe, Asia, and Australia. Concurrent brings over 30 years of real-time experience to the broadband industry, and in a very short time has become the undisputed leader in broadband VOD, with VOD revenues of $12 million in fiscal 2000. Concurrent is uniquely positioned to meet the pent-up demand for streaming video A one-way video transmission over a data network. It is widely used on the Web as well as company networks to play video clips and video broadcasts. Computers in home networks stream video to digital media hubs connected to a home theater. applications and interactive television services. Forrester Research Forrester Research is an independent technology and market research company that provides its clients with advice about technology's impact on business and consumers. Corporate facts
Note to Editors: For additional company or product information from Concurrent Computer Corporation, please contact Concurrent Computer Corporation, 4375 River Green Parkway, Duluth, GA 30096. Call toll free in the U.S. and Canada at (877) 978-7363, or fax us at (678) 258-4300. Readers can also access information through the company's Web site at http://www.ccur.com. Concurrent Computer Corporation is a registered trademark of Concurrent Computer Corporation. All other trademarks are the property of their respective owner. |
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