back
VeriSign Founder and Security Industry Icon Returns to Chairman Role; Ed Mueller Resigns to Focus on Qwest chairman and CEO Role
Mountain View, CA – August 21, 2007 –VeriSign, Inc. (NASDAQ: VRSN), the leading provider of digital infrastructure for the networked world, today announced that the board of directors has elected D. James Bidzos to become chairman, replacing Edward A. Mueller who has resigned after his recent selection as the chairman and CEO of Qwest Communications International.
Bidzos is an Internet and security industry pioneer whose accomplishments include building RSA Security into the early standard-bearer for authentication and encryption and launching VeriSign as a company in 1995 to develop the digital certificate infrastructure for Internet commerce. Bidzos has been named one of Time Magazine's "Digital 50" and is in CRN's “Computer Industry Hall of Fame".
"It was Jim’s vision that launched VeriSign over a decade ago, and his leadership and experience make him the ideal person to take over as our new chairman," said Bill Roper, president and chief executive officer of VeriSign. "Jim has already made significant contributions to VeriSign and to the industry, and we look forward to partnering with him as we bring more focus and discipline to VeriSign's future.”
Roper added: “Jim's return injects VeriSign with the entrepreneurial and visionary energy that I believe will serve us well as we focus on expanding our core businesses while investing in several exciting new growth areas."
Bidzos, who served as VeriSign’s first president and CEO in 1995, also served as VeriSign's chairman from April 1995 until December 2001, and has served as vice chairman since then. He served as president and CEO of RSA Security from 1988 to February 1999, and then served as RSA's vice chairman from 1999 to May 2002.
“I'm excited to be back as VeriSign's chairman, and energized about our future opportunities as a business,” said Bidzos. “VeriSign is the key provider of critical infrastructure for billions of digital interactions every day for Internet look-ups and security certificates; this is a powerful base from which to develop and grow new opportunities as a provider of core infrastructure for mobile messaging, content delivery, and identity services. We are going to be very focused in these three areas.”
Bidzos added: "I personally want to thank Ed Mueller for his valuable contributions to VeriSign's board over the past two and a half years. We congratulate him on his new role as Qwest CEO, and wish him well."
Mueller, who was announced as Qwest's new chairman and CEO last week, joined VeriSign’s Board in March 2005 and was elected chairman in May 2007. He is the former CEO of specialty retailer Williams-Sonoma, had previously served as chief executive of several SBC Communications business units, including Ameritech, SBC International Operations, Pacific Bell and Southwestern Bell Telephone Company.
About VeriSign
VeriSign, Inc. (NASDAQ: VRSN), operates digital infrastructure services
that enable and protect billions of interactions every day across the
world’s voice, video and data networks. Additional news and information
about the company is available at www.verisign.com.
Contacts
VeriSign Media Relations: Caroline Japic, cjapic@verisign.com,
650.224.4150
VeriSign Investor Relations: Ken Bond, kbond@verisign.com,
650.426.3744
Statements in this announcement other than historical
data and information constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. These statements involve risks
and uncertainties that could cause VeriSign's actual results to differ
materially from those stated or implied by such forward-looking statements.
The potential risks and uncertainties include, among others, the uncertainty
of future revenue and profitability; potential fluctuations in quarterly
operating results due to such factors as the risk that VeriSign's announcements
may not result in additional products, services, customers, profits
or revenues; and increased competition and pricing pressures. More information
about potential factors that could affect the company's business and
financial results is included in VeriSign's filings with the Securities
and Exchange Commission, including in the company's Annual Report on
Form 10-K for the year ended December 31, 2006 and quarterly reports
on Form 10-Q. VeriSign undertakes no obligation to update any of the
forward-looking statements after the date of this press release.
###