Telocity Names Leo J. Hindery, Jr. to Board of Directors; Industry Veteran Brings Significant Experience in Cable and Broadband Services
CUPERTINO, Calif.--(BUSINESS WIRE)--April 20, 2000--Telocity, Inc. (NASDAQ:TLCT), a leading nationwide provider of broadband services to the residential market, announced today that Leo J. Hindery, Jr., Chief Executive Officer of Global Crossing Ltd. (NASDAQ: GBLX), and Chairman and Chief Executive Officer of GlobalCenter Inc. a Global Crossing company, will join its board of directors effective May 24, 2000. Mr. Hindery was previously the President and Chief Executive Officer of AT&T Broadband & Internet Services, formed out of the March 1999 merger of Tele-Communications, Inc. (TCI) into AT&T.
Mr. Hindery has a long and impressive history in the cable and telecommunications industries, having founded InterMedia Partners in 1988, and built it into the nation's ninth largest cable company. He joined TCI in March 1997, and was President and Chief Executive Officer at the time of the company's merger with AT&T. At Global Crossing Ltd., Hindery is leading the charge as the company's chief executive to build and deploy services over a global fiber optic network.
"In the fast moving market for broadband services, there is no time to learn on the job," said Patti Hart, President and Chief Executive Officer of Telocity. "Leo brings an extraordinary wealth of industry, technology, and regulatory insight that will assist us in evaluating alternative last-mile technologies to complement our current DSL network. We are delighted to have him join our board."
"I applaud Patti and the Telocity team for their approach and technology-agnostic orientation to the last-mile," said Leo Hindery. "I am pleased to play a role in helping the company fulfill its objective of becoming a leading broadband services company to the residential market."
Telocity also announced today the appointment of fellow new board member, Christie Hefner, Chairman and Chief Executive Officer of Playboy Enterprises, Inc., (NYSE: PLA), and Chairman of Playboy.com, Inc. Ms. Hefner's board appointment is effective as of May 24, 2000.
At present, Telocity's board of directors includes members from four of the company's equity and strategic sponsors and two Telocity senior executives. Current members include David Cowan of Bessemer Venture Partners, Andrew Rappaport of August Capital, Edmond Sanctis of NBC Internet, Inc., Michael Solomon of Mohr, Davidow Ventures, and Randy Strahan of Mohr, Davidow Ventures as well as Telocity executives, Patti Hart, President and Chief Executive Officer, and Peter Olson, Founder, Executive Vice President and Chief Technical Officer.
About Telocity
Telocity is a leading provider of residential broadband services. Telocity improves today's dial-up, or narrowband, experience through faster and reliable services that enhance Internet surfing, shopping, and communications. Telocity intends to expand its broadband services to packaged value-added services that may include secure telecommuting, home monitoring and automation, voice bundling, and entertainment and gaming services. Telocity currently provides high-speed broadband services through digital subscriber line (DSL) technology. As Telocity expands its services nationwide, the company intends to choose the most reliable, flexible and cost-effective broadband access technologies (including DSL, cable, and wireless) available in each local market. Telocity's current broadband footprint covers over 115 major U.S. Metropolitan Statistical Areas (MSAs) across the United States. For more information, contact Telocity at phone (408) 863-6600; fax (408) 777-1451; www.telocity.net, or mail at 10355 N. DeAnza Blvd.; Cupertino, CA 95014. |
