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Press Release |
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VeriSign Board Elects Jim Bidzos as New Chairman
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 22, 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
energised 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
and 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: Weber Shandwick, VeriSignLondon@webershandwick.com,
+44 207 067 0000
VeriSign Investor Relations: Ken Bond, kbond@verisign.com,
+1 650 426 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.
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