Crescent Networks Appoints Gerald W. Wesel as President and CEO; Former Lucent Executive Takes the Helm to Lead the Rapid Growth of Start-up Company.Business/Technology Editors CHELMSFORD, Mass.--(BUSINESS WIRE)--May 30, 2000 Crescent Networks today announced the appointment of Gerald W. Wesel as President and Chief Executive Officer. Jerry has over 28 years of sales, marketing, business development, systems engineering and customer service experience and will be responsible for all the operational facets and overall business development for the company. Jerry comes to Crescent Networks from Lucent Technologies, where he served as a vice president in its Enterprise Internetworking Systems and, before that, as 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. of Agile Networks - a wholly owned Lucent subsidiary. Jerry was a founder of Agile Networks and took that company to successful acquisition by Lucent Technologies in 1996, the very first of many acquisitions done by the company. Jerry was also cofounder co·found tr.v. co·found·ed, co·found·ing, co·founds To establish or found in concert with another or others. co·found and vice president at Interlan, Inc., a company acquired by Micom Systems in 1985. "It is with pleasure and excitement that we welcome Jerry as CEO at Crescent Networks," said Steve Kelly R. Steve Kelly (born October 26, 1976, Vancouver, British Columbia, Canada) is an ice hockey Left Wing currently playing for the Frankfurt Lions of Deutsche Eishockey-Liga in Germany. , Chairman of the Board of Directors at Crescent Networks. "As an incoming CEO, Jerry is a very seasoned and highly respected industry professional who understands the space Crescent Networks is in and has a track record for going the distance. It will be a thrill to see him guide the success of the company." "Crescent Networks is developing an attractive service-creation platform for today's bandwidth-rich optical networks," said Joe Casey, General Partner at Venrock Associates. "With his proven abilities and prior start-up success, Jerry is an ideal person to lead the company's rapid development." Jerry first started his career at Wiltek Corporation and Digital Equipment Corporation. He holds a Masters in Business Administration from Babson College Babson College, located in Wellesley, Massachusetts (zoned as "Babson Park," ZIP code 02457),[1] is a private business school that grants all undergraduates a Bachelor of Science in Business Administration. The F. W. and a Bachelor of Arts degree in Applied Science from Boston University Boston University, at Boston, Mass.; coeducational; founded 1839, chartered 1869, first baccalaureate granted 1871. It is composed of 16 schools and colleges. . About Crescent Networks Crescent Networks is a privately held networking company that is eliminating the barriers between today's Service Providers and the opportunity for them to provide valuable IP Services to customers - services that guarantee the delivery and reach for mission critical applications driving today's economy. Crescent Networks is focused on delivering an optical-scale service-creation platform for carriers that will enable Enterprises, ASPs and/or other "Service Delivery" providers to build the necessary application services See ASP and Web services. for success. Crescent Networks is funded by industry-leading investors led by three top-tier venture firms - Bessemer Venture Partners Bessemer Venture Partners is a private venture capital firm with offices in Silicon Valley, New York, Massachusetts, China, and India. It has backed such companies as Ciena, Flarion, Parametric Technologies, Skype, Staples, VeriSign and Veritas. , St.Paul Venture Capital and Venrock Associates. Its top-notch talent has a proven track record for successful networking solutions at leading companies like Cascade, Lucent Technologies, 3Com, Digital, Cabletron, Nortel Networks (Nortel Networks Limited, Brampton, Ontario, www.nortelnetworks.com) A world leader in telecommunications products, which includes switching, wireless and broadband systems for service providers and carriers, telephones and systems for residential and business users, computer telephony and Newbridge. For more information visit http://www.crescentnets.com. |
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