VeriSign Announces Changes
to Executive Team
Company Elects Albert E. Clement as CFO and Names Richard H. Goshorn
as General Counsel
Mountain View, CA – July 17, 2007 –VeriSign, Inc. (NASDAQ:
VRSN), the leading provider of digital infrastructure for the networked
world, announced that Albert E. “Bert” Clement has been elected chief
financial officer (CFO) and Richard H. “Rick” Goshorn has been named
senior vice president, general counsel and secretary.
As announced on July 12, 2007, Bert Clement was elected
CFO, bringing more than 20 years of experience in finance and accounting
for high technology companies to the position. As CFO, Clement
is responsible for managing worldwide company operations related to
finance and accounting, property management and investor relations.
After joining VeriSign through the acquisition of
Network Solutions, Inc. in December 2000, Clement served as senior vice
president, finance and controller. Over the past seven years,
he has been a key member of VeriSign's leadership team, helping to set
business strategy, manage acquisition integrations and contribute to
corporate profitability.
Prior to joining VeriSign, Clement was an executive
at MCI Communications and BroadPoint Communications. He also provided
executive level consulting and advisory business services to public
companies while at PricewaterhouseCoopers LLP.
In addition, VeriSign named Rick Goshorn as senior
vice president, general counsel and secretary. As VeriSign’s new
chief legal officer, Goshorn will drive internal processes throughout
the company, and will work with CEO Bill Roper to ensure the company
continues its emphasis on managerial discipline and execution. A seasoned
executive, he brings to VeriSign more than 26 years of experience in
driving global business and legal initiatives.
Prior to joining VeriSign, Goshorn was general counsel
for Akin Gump Strauss Hauer & Feld LLP in Washington, D.C. and before
that served as corporate vice president, general counsel and secretary
for Acterna Corporation. Previously, he held a variety of senior executive
legal roles over a ten year period at Cable and Wireless PLC in London,
Brussels, Singapore and Washington, where he served as senior vice president
and general counsel for Cable & Wireless Global.
“We’re pleased to have Rick join our senior leadership
team as he brings a fresh viewpoint to VeriSign's solid and proven management
team already in place,” said Bill Roper, president and CEO, VeriSign.
“We are also happy that Bert has stepped up to fill a very important
role as CFO and that VeriSign will continue to benefit from his leadership
and strategic input.”
The new executives will join VeriSign’s core management
team, which remains firmly in place to manage the company’s principal
operations. That team consists of:
- Mark D. McLaughlin, executive vice president of products, marketing
and customer care, who is responsible for product development, global
marketing and customer care;
- John Donovan, executive vice president of global sales and services,
who is responsible for VeriSign's global sales and consulting organization;
- Aristotle Balogh, chief technology officer and head of global product
development, who leads all areas of product development and technology
deployment;
- Bob Korzeniewski, executive vice president of corporate development,
who is responsible for providing a consistent strategy and focus for
investments and merger-and-acquisition activity.
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: Lisa Malloy, emalloy@verisign.com,
202-270-7600
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 and potential fluctuations in quarterly
operating results due to such factors as the inability of VeriSign to
successfully develop and market new products and services, and implement
price increases, and customer acceptance of any new products, services,
or price increases, including the price increases mentioned herein;
the possibility that VeriSign’s announced new products, services and
price increases may not result in additional customers, profits or revenues;
and increased competition. 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 and current reports on Form
8-K. VeriSign undertakes no obligation to update any of the forward-looking
statements after the date of this press release.
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