Corsair Communications Names Mary Ann Byrnes as CEO; Cellular fraud busting company aims at long-term growth with chief executive appointment.SUNNYVALE, Calif.--(BUSINESS WIRE)--May 16, 1995--Corsair Communications today announced the appointment of Mary Ann Byrnes as the company's 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. , replacing transitional chief executive and current chairman Kevin Compton. The chief executive title will be added to Byrnes' current title of president. Byrnes will now be reponsible for Corsair's strategic positioning and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against as well as for the company's overall operation. Corsair corsair: see Barbary States; piracy. Communications is the developer of the PhonePrint cellular fraud control system, which uses radio frequency fingerprinting technology to stop cellular fraud, which cost the industry nearly $500 million in 1994. Corsair was founded in December, 1994, when a group of 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] , led by Kleiner Perkins Caufield and Byers and Sevin Rosen Funds Sevin Rosen Funds (SRF) is a venture capital firm that was established in 1981 by L.J. Sevin and Ben Rosen. SRF was involved in the financing of ArQule, CIENA, Citrix, Cypress Semiconductor, Electronic Arts, Lotus Development Corporation, Silicon Graphics, and Vitesse. , acquired a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in the PhonePrint business from TRW's Avionics & Surveillance Group. "We've been impressed with the company's progress under Mary Ann's leadership," said Corsair chairman Kevin Compton. "She has assembled a top-flight management team, introduced an aggressive product enhancement program, and established leadership in the marketplace. This company is moving very quickly, partly because we have a management team that understands cellular carriers from an inside perspective." Byrnes joined Corsair with eight years of cellular operator experience and over a decade of involvement in the telecommunications industry. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Byrnes, the PhonePrint system has shut down over three million fraudulent calls this year. "I'm proud of what our team has accomplished since December," said Byrnes. "We've deployed our system on a large scale in Los Angeles and made significant progress in other markets, where we expect additional sales soon. Most importantly, we've established Corsair as the clear leader in developing RF fingerprinting technology and getting it to market." With core expertise in radio signal analysis and wireless spectrum technology Corsair Communications develops and provides technology-intensive application solutions to the wireless telecommunications industry. The company's PhonePrint network access control system is the cellular industry's first real-time, pre-call fraud prevention tool. CONTACT: Corsair Communications Bill Taliaferro, 408/752.2686, fax: 408/752.2803 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion