NECX.com LLC Expands Management Team as It Prepares for New Stage of Growth; New Vice Presidents and Director Bring Increased Market and Technology Expertise to NECX Management.Business/Technology Editors PEABODY, Mass.--(BUSINESS WIRE)--March 20, 2000 NECX.com LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of VerticalNet, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : VERT) today announced the appointment of five new vice presidents and a director to its management team. These executives will provide key leadership and guidance for NECX's Global Electronics Exchange for the purchase and sale of semiconductors, computer products and networking equipment. The newly-appointed executives include Elan Bair, Vice President of Corporate Development; Cindie Calvino, Vice President of Organizational Resources; Wayne Poe, Vice President of Global Logistics; Bruce Haskin, Vice President of Finance; Robert Kramich, Vice President of Marketing; and David Buchanan David Thomas Hugh Buchanan (born May 6 1986 in Rochdale, England) is a Northern Irish footballer, currently playing for Bury. Statistics Club Performance Club Season League FA Cup League Cup Other Total , Director of Information Technology. These additions to the NECX team will help the company manage its resources as it continues its global growth and rapidly implements a hybrid online-offline business model. "In order to compete in the open market, a company should provide a single, comprehensive solution to which buyers and sellers can turn to meet their needs," said Lauriston B. Marshall, president of NECX. "These five executives have demonstrated the leadership we need as we build the future of open market e-commerce. With their decades of leadership and experience, the Global Electronics Exchange can continue developing our neutral market-making exchange service as we build out this world-class, real-time Internet enabled, trading platform for the benefit of our customers and suppliers in the upcoming year. They will play an instrumental role in managing the teams that will secure the Global Electronics Exchange's position as the dominant open market exchange in the world." About the Executives Elan Bair, Vice President of Corporate Development, is responsible for leveraging the integrated capabilities of VerticalNet/NECX, evolving the company strategy, mergers and acquisitions, business development, and new service development while keeping a long range focus on the market and competition. Bair has been instrumental in shaping the company's strategy, building NECX's marketing organization and the company's integration with VerticalNet. Before joining NECX in 1998, Bair was an Associate Partner at Andersen Consulting See Accenture. , LLP LLP - Lower Layer Protocol , where he co-developed its e-commerce strategy and specialized in strategic management counsel for high technology firms. Bair received his Bachelor's and Master's degrees in Business Administration from Pace University and his Master's in Management from the Sloan School of Management of the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, . Cindie Calvino, the newly-appointed Vice President of Organizational Resources, is responsible for human resources, benefits, recruiting, compensation and the training departments. She will continue to focus on creating and developing the programs needed to support NECX's 200 employees. Calvino joined NECX in 1995 from Picture Tel, where she was a Human Resources Generalist. Calvino received her Bachelor's degree from Pennsylvania State University Pennsylvania State University, main campus at University Park, State College; land-grant and state supported; coeducational; chartered 1855, opened 1859 as Farmers' High School. . Wayne Poe, Vice President of Global Logistics, joined NECX in 1999. As vice president, Poe is responsible for NECX's global operations and logistics, driving the flow of products from buyers to sellers as quickly and cost-effectively as possible. In this position, Poe oversees customer care, traffic and distribution. In addition, he is also the project manager for NECX Asia, NECX's joint venture with Sumitomo Corporation. Prior to joining NECX, Poe was Director of Leaf Operations for R.J. Reynolds International where he directed the operations of processing plants located in Kota Bharu, Malaysia; Danang, Vietnam; and Xiamen in the People's Republic of China. Managing an annual procurement budget of $70 million, Poe was also responsible for identifying and developing new suppliers and material sources in China, the Philippines, Vietnam, Thailand and Indonesia. Poe holds an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from Wake Forest University's Babcock Graduate School of Management [5] In all programs, most courses rely on the case method, which calls for discussion of critical situations that executives and managers have faced in various industries. Cases present the information originally available to the decision-makers. and a Bachelor's degree in Industrial Psychology and Spanish from Ouachita University. Bruce Haskin, Vice President of Finance, will be responsible for the organization, development and execution of 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 at NECX. Haskin's main objectives will be to support management in maximizing the value of NECX, as well as safeguarding the company's assets. Prior to joining NECX, Haskin was the Treasurer for BBN (BBN Technologies, Cambridge, MA, www.bbn.com) A consulting firm that participated in the development of some of the most extensive networks in the world, including ARPANET, which evolved into the Internet. It was founded in 1948 as a consulting service in acoustics by Dr. Corporation and Assistant Vice President of General Accounting for GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) Corporation's Internetworking Division. He received his Bachelor's degree in Accounting from Northeastern University and his J.D., L.M. in Tax from the Boston University School of Law Boston University School of Law (BU Law) is the law school affiliated with Boston University. . As the newly-appointed Vice President of Marketing, Robert Kramich is responsible for NECX's marketing strategy, which includes integrating the Internet into sales and marketing functions. In addition, he will continue to develop and oversee the Global Electronics Exchange content management program and the company's advertising, direct marketing and public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most functions. With nearly a decade of electronics industry experience, Kramich was Vice President of Sales and Marketing for Park Place, Inc. and Vice President of Strategic Marketing for Avnet's Time Electronics division prior to joining NECX. He received his Bachelor's degree from Tufts University and his Master's degree from Boston College. As Director of Information Technology, David Buchanan is responsible for managing application development, support and services for NECX, in addition to organizing the technological initiatives behind the company's expansion in the online marketplace. He is responsible for the strategic planning and implementation of information systems necessary for the Global Electronics Exchange to compete in the open market. Prior to joining NECX in 1996, Buchanan was a Project Supervisor at the Public Service Company of New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). where he was responsible for managing the application development and client services departments. He received his Bachelor's degree in Business Administration from the University of New Hampshire, Durham. About NECX.com LLC NECX (www.necx.com), a wholly-owned subsidiary of VerticalNet, Inc., operates the Global Electronics Exchange, a leading global B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business open market exchange for electronics hardware. NECX provides a high degree of market liquidity by aggregating supply and demand from thousands of components, original equipment and contract manufacturers; as well as distributors and resellers. The Exchange provides comprehensive services such as procurement and inventory management, trading, financial settlement, as well as global logistics and quality assurance. NECX is headquartered in Peabody, Mass., USA. NECX operates its Asia-Pacific business from Singapore and its European operations from Galway, Ireland and Stockholm, Sweden. About VerticalNet, Inc. VerticalNet, Inc. (www.verticalnet.com) owns and operates 55 industry-specific Web sites designed as online business-to-business communities, known as vertical trade communities. These vertical trade communities provide users with comprehensive sources of information, interaction and e-commerce. They are grouped into the following industry sectors: ADVANCED TECHNOLOGIES, COMMUNICATIONS, ENVIRONMENTAL, FOOD AND PACKAGING, FOODSERVICE AND HOSPITALITY, HEALTHCARE/SCIENCE, MANUFACTURING AND METALS, PROCESS, PUBLIC SECTOR, SERVICE, TEXTILES AND APPAREL. Additionally, VerticalNet provides auctions, catalogs, bookstores, career services and other e-commerce capabilities horizontally across its communities with sites like Industry Deals.com, IT CareerHub.com, LabX.com, Professional Store.com. VerticalNet's NECX Exchange provides an exchange for the electronic components industry. This announcement contains forward-looking statements that involve risks and uncertainties including statements that are preceded by, followed by or include the words "believes," "plans," "intends," "expects," "anticipates," or similar expressions. For such statements, VerticalNet claims the protection of the 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. for forward-looking statements contained in 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. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements include those factors set forth in VerticalNet's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the period ended December 31, 1998 and VerticalNet's Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended September 30, 1999, both of which have been filed with the SEC. VerticalNet is the registered trademark of VerticalNet, Inc. All other names are trademarks and/or registered trademarks of their respective owners. |
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