BigBand Networks, Inc. (NASDAQ:BBND) today announced changes to its executive team. These changes are designed to ensure the company is even more agile in the execution of its strategy for sustained growth in digital video networking.

BigBand announced Mike Pohl has been appointed as a non-executive chairman of the board of directors. Mr. Pohl’s appointment will separate the roles of chief executive officer (CEO) and Chairman at BigBand. Amir Bassan-Eskenazi will continue to serve as BigBand’s CEO and will be responsible for executive management of the company. In addition, Mr. Bassan-Eskenazi will continue to serve as a member of the board of directors.

“The role of chairman of the board is important and demanding, especially in light of greater compliance and reporting requirements. Having an independent chairman elevates our governance structure to ‘best practices’, which is critical in today’s business environment,” said Mr. Bassan-Eskenazi. “Mike brings an immense wealth of experience in guiding companies through their critical growth cycles, and we are delighted that he has accepted this important role.”

Mike Pohl was appointed to the BigBand Networks Board of Directors in April of 2009. Mr. Pohl has more than 25 years of experience in the telecommunications and cable industries with companies integral to the development of IPTV, On Demand, and next generation advertising and infrastructure.

In addition, the company announced that Ray Fitzgerald has been promoted to vice president, worldwide cable sales, and Wayne Gaudette will continue to service as vice president, telco sales. These positions will report directly to Mr. Bassan-Eskenazi.

David W. Heard has resigned as chief operating officer effective immediately but will remain as a consultant through June 30, 2010. Sean Rooney has resigned as senior vice president of worldwide sales but will remain with BigBand through April 1, 2010.

“Today’s business environment requires companies to be more agile and responsive to evolving market needs. The changes announced today position BigBand to become more nimble and responsive to our customers’ needs as well as to more effectively execute its strategy across the markets it serves. We believe our customers, employees, and shareholders will benefit from these changes as we continue our focus on innovation that has enabled BigBand to be the leader in digital video networking,” added Mr. Bassan-Eskenazi.

“On behalf of myself, the company and the Board of Directors, I would like to thank David and Sean for their individual contributions to the company and wish them well in their future endeavors,” said Mr. Bassan-Eskenazi.

About BigBand Networks

BigBand Networks, Inc. (NASDAQ: BBND) provides broadband service providers with innovative network solutions designed to make it easier to move, manage and monetize video. These solutions are based on BigBand's video-networking platforms that are built to enable efficient and reliable delivery across a wide range of services, including digital TV, high definition TV, advanced advertising, video-on-demand and interactive TV. BigBand Networks has done business with more than 200 customers -- including seven of the ten largest service providers in the U.S. -- and leading cable and telco service providers in North America, Asia and Europe. BigBand Networks is based in Redwood City, Calif., with offices worldwide. For additional information about the company, please call +1.650.995.5000, email info@bigbandnet.com or visit www.bigbandnet.com.

This release contains "forward-looking statements" as defined under the U.S. Federal Securities Laws, including the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created by such laws. Forward-looking statements may relate to, but are not limited to the executive team’s ability to execute the company’s strategy and the anticipated benefits from the realignment of our management team. Forward-looking statements are based on current expectations that involve a number of uncertainties and risks that may cause actual events or results to differ materially. Factors that could cause actual events or results to differ materially include, among others, the following: the ability of the management team to manage the growth in the business, shifts in customer demand, shifts in strategic relationships, delays in BigBand’s ability to deliver or decisions to discontinue its products and services, or announcements by competitors. These and other risks may be detailed from time to time in BigBand’s periodic reports filed with the Securities and Exchange Commission, copies of which may be obtained from www.sec.gov. BigBand Networks is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. Information contained in our website is not incorporated by reference in, or made part of this press release.

Bigband Networks (MM) (NASDAQ:BBND)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Bigband Networks (MM) Charts.
Bigband Networks (MM) (NASDAQ:BBND)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Bigband Networks (MM) Charts.