SAN JOSE, Calif., May 17, 2016 /PRNewswire/ -- Extreme
Networks, Inc. (Nasdaq: EXTR), a software-driven networking
company, today announced the appointment of Drew Davies as Executive Vice President and
Chief Financial Officer effective June
1st. Mr. Ken
Arola, Extreme's current Executive Vice President and Chief
Financial Officer, will work with Mr. Davies to ensure a seamless
transition of his responsibilities and assist with ultimate shift
of the role from San Jose,
California to Raleigh, North
Carolina where Extreme's finance and IT teams are
based.
"We are excited to have Drew joining our team," stated
Ed Meyercord, President and CEO of
Extreme Networks. "His strong industry knowledge and breadth
of financial and information technology experience make him a
natural fit to take Extreme to the next level. As we continue to
market innovative technology solutions through our vertical
enterprise go-to-market strategy, Drew will provide the leadership
and support to drive improved financial performance.
"During his tenure as CFO, Ken was instrumental in implementing
our turnaround, enabling Extreme to achieve growth and
profitability while strengthening the balance sheet. On behalf of
the Board and management team, I sincerely thank him for his
professionalism, service and commitment," added
Meyercord.
"I'm excited to join Extreme Networks at a time when the Company
is pivoting to growth," said Davies. "Extreme's complete end-to-end
product line, quality customer relationships and solid financial
position attracted me to this position. I look forward to working
with Ed Meyercord and the rest of
the leadership team to execute our long term strategic plan."
Mr. Davies brings more than 26 years of finance, accounting and
IT experience to Extreme Networks. He most recently served as Vice
President, Corporate Controller at Marvell Semiconductor Inc. and
previously served in senior level financial positions at several
leading semiconductor companies, including Senior Vice President,
Corporate Controller at Cypress Semiconductor Corporation and
Spansion Inc. He holds a Master of Business Administration from
Santa Clara University and a Bachelor
of Science, Business Accounting degree from the University of Idaho.
About Extreme Networks:
Extreme Networks, Inc. (EXTR)
delivers software-driven networking solutions that help IT
departments everywhere deliver the ultimate business outcome:
stronger connections with customers, partners and employees. Wired
to wireless, desktop to datacenter, we go to extreme measures for
our 20,000-plus customers in more than 80 countries, delivering
100% insourced support to organizations large and small, including
some of the world's leading names in business, education,
government, healthcare, manufacturing and hospitality. Founded in
1996, Extreme is headquartered in San
Jose, California. For more information, visit Extreme's
website or call 1-888-257-3000.
Extreme Networks, ExtremeCloud and the Extreme Networks logo are
either trademarks or registered trademarks of Extreme Networks,
Inc. in the United States and/or
other countries. All other names are the property of their
respective owners.
Forward Looking Statements:
Statements in this
release, including those concerning the Company's business
prospects, future financial and operating results, and overall
future prospects are forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
speak only as of the date of this release. Actual results or events
could differ materially from those anticipated in those
forward-looking statements as a result of certain factors,
including: failure to achieve targeted revenues and forecast demand
from end customers, increased price competition, ongoing
uncertainty in global economic conditions, infrastructure
development or customer demand, collectability of receivables, the
ability to meet current financial covenants, dependencies on third
parties to manufacture our products, delays in development and
commercialization of products under development, and ongoing
litigation.
More information about potential factors that could affect the
Company's business and financial results is included in the
Company's filings with the Securities and Exchange Commission,
including, without limitation, under the captions: "Management's
Discussion and Analysis of Financial Condition and Results of
Operations," and "Risk Factors". Except as required under the
U.S. federal securities laws and the rules and regulations of
the U.S. Securities and Exchange Commission, Extreme
Networks disclaims any obligation to update any
forward-looking statements after the date of this release, whether
as a result of new information, future events, developments,
changes in assumptions or otherwise.
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SOURCE Extreme Networks, Inc.