Covad Announces Organizational Change.Business Editors/High-tech Writers SANTA CLARA, Calif.--(BUSINESS WIRE)--May 12, 2000 Covad Communications (Nasdaq:COVD COVD College of Optometrists in Vision Development COVD Covad Communications Group (stock symbol) ) today announced the resignation of Robert Roblin, executive vice president of Sales and Marketing. Bob Grant, president and general manager of the Western Sales Region will assume the role on an interim basis. Robert Roblin left Covad to take some personal time and then pursue other opportunities. "The industry opportunity for broadband is huge and Covad is well-positioned with strong fundamentals to maintain our leadership position," said Robert Knowling, chairman, 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. . "Robert's contributions were instrumental in making Covad the nation's leading digital subscriber line See DSL. (communications, protocol) Digital Subscriber Line - (DSL, or Digital Subscriber Loop, xDSL - see below) A family of digital telecommunications protocols designed to allow high speed data communication over the existing copper telephone lines between end-users and broadband service provider An ISP, telephone company, cable company or other carrier that offers high-speed communications to homes and businesses, typically for Internet access. Cable modems, DSL and T1 lines are the common technologies. See broadband, cable modem, DSL and T1. with more than 100,000 installed lines, and we wish him success in his future endeavors." "Covad gave me an outstanding opportunity to build marketing and sales in a new and dynamic industry and to provide the fundamentals for Covad to continue to expand its leadership position," said Robert Roblin. About Covad Covad Communications is the leading national broadband service provider of high-speed Internet and network access utilizing Digital Subscriber Line (DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary ) technology. It offers DSL services through Internet Service Providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. , telecommunications carriers, enterprises, PC OEMs and ASPs to small and medium-sized businesses and home users. Covad also offers virtual Internet and broadband services through its acquisition of LaserLink.net, a leading provider of branded Internet access. Covad services are currently available across the United States in 63 of the top Metropolitan Statistical Areas (MSAs) and will be available in 100 MSAs by the end of 2000. At that time, Covad's network will reach more than 40 percent of all US homes and 45 percent of all US businesses. Covad Communications and its affiliates, doing business as Covad Communications Company, are wholly owned subsidiaries of Covad Communications Group, Inc. Corporate headquarters is located at 2330 Central Expressway, Santa Clara, CA, 95050. Telephone: 888-GO-COVAD. Web Site: www.covad.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements, including but not limited to statements regarding the intention to deploy our network in new and existing MSAs, the timing and breadth of coverage in each MSA (Metropolitan Service Area) An urban area with at least 50,000 people plus surrounding counties. There are 306 MSAs and 428 RSAs (rural service areas) in the U.S. MSAs and RSAs are used to allocate cellular licenses. , our ability to reduce our prices, the success of any Internet sites or Internet portals, our ability to simplify our ordering processes, the successful marketing of our services and products, and our ability to provide multimedia content. Actual results may differ materially from those anticipated in any forward-looking statements as a result of certain risks and uncertainties, including, without limitation, the company's dependence on incumbent local exchange carriers for collocation, unbundled network elements, transport and other facilities, development of necessary technologies and operations, ability to manage growth of our operations, and the need to raise additional capital. For other risks and uncertainties applicable to our business refer to the Company's Securities and Exchange Commission filings. |
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