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Press Release |
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VeriSign Transforms Business Structure to Support the “Any Era”
Unified Sales and Product Organisations Unleash Full Solutions Portfolio
to Empower Customers Across Multiple Industries
London – January 26, 2007 – VeriSign, Inc. (NASDAQ: VRSN),
the leading provider of intelligent infrastructure for the networked
world, today announced a new business structure designed to better serve
its customers’ next-generation infrastructure needs while simultaneously
streamlining the company’s operations. The new functional organisation
replaces the previous business unit structure with a combined sales
and services team and an integrated products organisation enabling VeriSign
to better deliver its broad portfolio of digital infrastructure services
to a global customer base.
“VeriSign is more than security, more than .com, and
more than telecom. Over the past 12 years, we have built the world’s
most powerful digital infrastructure that enables and protects more
than 25 billion interactions every day,” said Stratton Sclavos, Chief
Executive Officer and Chairman, VeriSign. “Today, we take the next step
in our evolution. We believe this new organisation structure will
allow all of our employees to focus on a common goal – enabling our
customers to accelerate their transformation to the Any Era by helping
them bring new services to market more quickly and efficiently.”
VeriSign’s vision for the “Any Era” reflects the company’s
response to the major shift in the way people work, play and live as
the world’s interactions move from physical to digital. Consumers are
now in charge, and they expect access to information, content, entertainment
and commerce any time, anywhere via any channel, network or device.
Today’s businesses – regardless of industry – must respond with scalable,
reliable and secure network-based services. VeriSign’s globally deployed
digital infrastructure provides the foundation for many of the most
innovative solutions now being delivered by thousands of companies across
the globe.
A New Business Structure To Meet Customer
Needs
Under the new operating structure, VeriSign’s three
previous business units – VeriSign Security Services (VSS), VeriSign
Information Services (VIS) and VeriSign Communications Services (VCS)
– are now combined to deliver an integrated portfolio through a unified
sales and service team across multiple industries. The company will
have two main functional units, each led by a VeriSign or industry veteran
reporting directly to the CEO:
- Sales and Consulting Services: This group will combine
VeriSign’s multiple sales and consulting functions into one organization,
focused on global accounts, strategic partnerships and worldwide channel
relationships. The group will be aligned by vertical industry to focus
on specialised customer needs and solutions delivery, and will also
include the company’s in-market consulting services, Business Development
and Global Channels teams. The group will be led by Executive Vice President
John Donovan, formerly CEO of InCode Wireless, which was acquired by
VeriSign in November 2006.
- Products and Marketing: This group is responsible for
the development, marketing, delivery and support of all VeriSign products
and solutions to businesses of all sizes. The organization includes
all facets of product management, product development, marketing and
customer support, as well as, a new innovation team chartered with looking
at longer term product line synergies and emerging market trends.
Core product teams will work closely with newly dedicated solutions
marketing teams to address market needs in media and entertainment,
telecom, financial services, healthcare, retail and public sector.
The group will be led by Executive Vice President Mark McLaughlin, a
7-year VeriSign veteran and formerly the head of VeriSign Information
Services.
“VeriSign’s new structure will make us a better business
partner, and we value the feedback our customers have provided throughout
the process,” said Sclavos. “What’s really exciting is that we can unleash
our full portfolio to deliver more integrated solutions that help our
customers capitalise on their biggest opportunities across multiple
industries.”
Expanded Leadership Team
In addition to VeriSign’s new customer-facing organisations
led by McLaughlin and Donovan, VeriSign has added two new senior roles
reporting to CEO Stratton Sclavos:
- Ari Balogh, a 9-year
VeriSign veteran, has taken on the dual role of Chief Technology Officer
and head of global product development, charged with working both internally
and externally to accelerate product innovation and push forward best
practices in technology and architecture. Balogh was previously executive
vice president of VeriSign Operations and Infrastructure.
- Rod McCowan recently
joined VeriSign as Senior Vice President, Global Human Resources, charged
with driving all aspects of the company’s Human Capital Plan to retain,
recruit and develop a world-class organization. McCowan comes
to VeriSign from Hitachi Data Systems where he served as senior vice
president of Global Human Resources.
Executive Vice President and Chief Financial Officer
Dana Evan continues in her role leading VeriSign’s finance functions
and Executive Vice President Bob Korzeniewski continues leading VeriSign’s
corporate development team, both reporting to Sclavos.
More information on the company realignment and management
changes will be made available on VeriSign’s quarterly earnings call,
which will take place on Wednesday, January 31, 2007.
About VeriSign
VeriSign, Inc. (Nasdaq: VRSN), operates intelligent infrastructure
services that enable and protect billions of interactions every day
across the world’s voice and data networks. Additional news and information
about the company is available at www.verisign.eu
Trademarks
VeriSign, and other trademarks, service marks, and logos are
registered or unregistered trademarks of VeriSign and its subsidiaries
in the United States and in foreign countries.
Copyright © 2007 VeriSign, Inc. All rights reserved.
For more information, contact:
VeriSign Media Relations:
Victoria Henry, vhenry@verisign.com
+44 (0) 20 8600 0723
Catriona Jackson, Weber Shandwick, VerisignLondon@webershandwick.com
+44 (0) 20 7 067 0289
VeriSign Investor Relations: Ken Bond, kbond@verisign.com,
001 650.426.3744
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 customer
acceptance of any new products or services; the possibility that VeriSign’s
announced new services may not result in additional 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, 2005 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.
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