VNCI Names Muscari New Chairman.Business/Technology Editors PORTSMOUTH, N.H.--(BUSINESS WIRE)--Jan. 30, 2001 (Nasdaq: VNCI VNCI Video Network Communications Incorporated , VNCIW) Video Network Communications, Inc. (VNCI), a leader in video networking solutions, today announced the election of Carl Muscari as Chairman of the VNCI Board of Directors. Muscari has served as President of VNCI since September 1999, and was appointed Chief Executive Officer and director in December 1999. He will continue to lead the Company 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. . "I know I speak for all the directors in welcoming Carl to this key position," said Jim Bunker, Chairman of the Board since February 1999. "As President and CEO of VNCI, Carl's industry experience, leadership and good judgement have produced dramatic and consistent quarter-over-quarter improvements. Carl has clearly demonstrated the ability to drive the company to profitability and inspire confidence in our employees, directors, customers and investors. Since July 1998, I have served VNCI in several capacities, in management and on the Board. My confidence in the company's future has never been higher and I intend to continue as a very active director in support of Carl and VNCI's continued success." Mr. Muscari brings more than 16 years leadership experience in the high tech sector. Before joining VNCI, he served as President of Acuity acuity /acu·i·ty/ (ah-ku´i-te) clarity or clearness, especially of vision. a·cu·i·ty n. Sharpness, clearness, and distinctness of perception or vision. Imaging, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , and President and CEO of Exos Inc., which was sold to Microsoft in 1996. He holds engineering degrees from Cornell University Cornell University, mainly at Ithaca, N.Y.; with land-grant, state, and private support; coeducational; chartered 1865, opened 1868. It was named for Ezra Cornell, who donated $500,000 and a tract of land. With the help of state senator Andrew D. and 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, , and 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 Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. . "I am honored to be elected by my fellow directors to serve as VNCI's Chairman of the Board," said Muscari. "Their expertise has been and will continue to be invaluable in pursuing our vertical markets and in working with the investment community. Jim Bunker has been pivotal to the success of the company and I am delighted that he will remain an active director. As Chairman, I will continue to rely on our directors' active participation and counsel. We are all very enthusiastic about the validation VNCI has received over the last several months, as global companies, the military, schools, and state-of-the-art medical facilities adopt our video networking technology." About Video Network Communications, Inc. Video Network Communications designs, develops, and markets video distribution systems that provide full-motion, high-resolution video networking, enabling video broadcast distribution, retrieval of stored video-on-demand and interpersonal video communications. VNCI's patented technology allows the VNCI video system to use the active telephone wiring See twisted pair. to bring TV-quality video anywhere there's a phone jack. The Company's ISDN/IP and Universal (ATM) Gateway solutions extend the system's reach from enterprise desktops out to the wide-area-networks (WANs). The Company's common stock and warrants are listed on The Nasdaq SmallCap Market under the symbols "VNCI" and "VNCIW" respectively. VNCI can be found at www.vnci.net. Except for the historical information herein, the matters discussed in this news release include forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that may involve a number of risks and uncertainties. Actual results and future events may vary significantly based on a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, changing economic conditions and other risk factors detailed in the Company's most recent filings with the Securities and Exchange Commission. |
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