Don Gibbs Named New CEO of VIPswitch.Business Editors BOSTON & MONTREAL--(BUSINESS WIRE)--April 24, 2001 VIPswitch, a developer of a new class of application aware Terabit switch/routers for Metropolitan and IP Service Providers, today announced the appointment of Mr. Don Gibbs 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. . Mr. Gibbs brings more than 30 years of management experience to VIPswitch. Most recently, he was President & CEO of Positron positron: see antiparticle. positron Subatomic particle having the same mass as an electron but with an electric charge of +1 (an electron has a charge of −1). It constitutes the antiparticle (see antimatter) of an electron. Fiber Systems, a start-up organization that specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in SONET add/Drop multiplexers A device installed at an intermediate point on a transmission line that enables new signals to come in and existing signals to go out. In a typical example, most signals pass through the device, but some would be "dropped" by splitting them from the line. for the fiber optic access market. During his tenure at Positron, Mr. Gibbs took the company public with an extremely successful IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. . In 1998, he expertly negotiated the sale of Positron to Reltec Corporation for $200 million US. Subsequently Reltec was purchased by Marconi PLC. Prior to Positron Fiber Systems, Mr. Gibbs held multiple senior management positions at companies such as: Cognos and Mitel. "I am extremely pleased that Don has decided to join VIPswitch and propel pro·pel tr.v. pro·pelled, pro·pel·ling, pro·pels To cause to move forward or onward. See Synonyms at push. [Middle English propellen, from Latin the company to the next level," said Luc Beaubien, VIPswitch's former President & CEO. "Don is the right person to guide VIPswitch through an IPO or an eventual buy-out buy·out also buy-out n. 1. The purchase of the entire holdings or interests of an owner or investor. 2. The purchase of a company or business: and he has a proven track record of increasing shareholder value." In order to ensure that there is a smooth transition, Mr. Beaubien will remain with VIPswitch until the end of June 2001. "There is a tremendous opportunity for VIPswitch," said Mr. Gibbs. "As optical Ethernet networking clearly becomes the technology of choice for next generation metro networks Metro Networks is a broadcasting outsourcing company based in Houston, Texas. It is a subsidiary of Westwood One, which is managed by CBS Radio. The company operates a number of local and regional news and traffic facilities that provide regular reports to affiliates, together with , VIPswitch's advanced technology is in a position to lead the market with cutting edge products. My past experience managing high tech start-ups convinces me that the company's products have the key features that will make the market respond. I look forward to working with the dynamic VIPswitch team and cultivating strategic relationships with fellow industry leaders to further our success." About VIPswitch VIPswitch is the developer of a new class of switch/routers for Metropolitan Area Networks. VIPswitch's breakthrough application-aware routing technology is designed for the new breed of Service Provider who is shaping the MAN of tomorrow. VIPswitch products enable providers to deliver premium services, and real-time applications - with guaranteed QoS - to their subscribers, thereby generating new revenue. VIPswitch products' modular scalability - from Gigabits to Terabits - is the missing link that empowers savvy metropolitan service providers to build cost-effective optical IP networks. VIPswitch is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. with offices in Boston and Montreal. For more information, please visit VIPswitch on the web at www.VIPswitch.com, send an email to info@VIPswitch.com or call 800-638-2677. VIPswitch is a registered trademark of VIPswitch Inc. VIPswitch V-MAN series , VIPswitch 160, VIPswitch 360, VIPswitch 1600, VIPswitch 3240 and the VIPswitch QoS IP MAN switch are proprietary trademarks of VIPswitch. All other trademarks are property of their respective companies. |
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