Internap Names Communications Industry Veteran Gene Eidenberg as New CEO.
PR Newswire, July 25, 2001 pNA
Full Text
Seattle, July 25 /PRNewswire/ --
Internap Network Services (Nasdaq: INAP), the leading intelligent routing services provider, announced today that Eugene Eidenberg, Chairman of
the Board, has been named CEO while the Board searches for the next long-term CEO. Tony Naughtin will continue to serve on Internap's Board of
Directors.
"At Internap, we have the people, products, technology, customers, and now the capital, to take us to profitability," said Gene Eidenberg, Chairman
and CEO of Internap Network Services. "Even in this difficult economy, with the resulting higher-than-normal customer churn, Internap continues to
generate strong sales growth while we renew our focus on reducing costs and cash burn."
"I'm excited to keep Internap moving forward to build upon the momentum that Tony began," said Eidenberg. "He has had the determination and
vision to take Internap from a concept to one of the most important and innovative companies pioneering service quality for the public Internet."
"Gene's strong operating experience in the communications industry, combined with his working knowledge of Internap, make him ideally suited to
lead our company through this important transition from entrepreneurial management to senior management that will take Internap to its full
potential," said Tony Naughtin, Co-Founder and Director of Internap.
Eugene Eidenberg has served as a Director and Chairman of Internap's Board of Directors since November 1997. Most recently, Mr. Eidenberg
was a Founder and Managing Director of Granite Ventures, previously known as H&Q Venture Associates, where he served as a Principal since
1998. Prior to that, Mr. Eidenberg was an Advisory Director at Hambrecht & Quist. Before joining Hambrecht & Quist, Mr. Eidenberg served for 12
years in a number of senior operating management positions with MCI Communications, including Executive Vice President/Group Executive for
MCI's international businesses, Executive Vice President for Strategic Planning and Corporate Development, President of MCI's Pacific Division and
Senior Vice President for Regulatory and Public Policy. From 1987 to 1990, Mr. Eidenberg was President and CEO of Macrovision. Mr. Eidenberg
also served in the Carter Administration as Secretary to the Cabinet and Assistant to the President.
Internap's conference call will be held today, Wednesday, July 25, 2001 at 5:00 p.m. Eastern, 2:00 p.m. Pacific. The dial-in numbers are
+1-888-889-1954 for domestic calls and 712-257-2275 for international calls. The passcode is Internap, and no RSVP is required. The replay
numbers are +1-800-842-6143 for domestic calls and +1-402-280-9943 for international calls. No passcode required. A live webcasting of the call
will also be made available. Please visit our website www.internap.com/investor_services for the hyperlink or for further information.
The conference call and webcast replays, including a written transcript, will be made available until Wednesday, August 1, 2001 at 5:00 p.m. Pacific.
Internap Investor Services Contact
Tim Hanson
Internap Network Services
+1-206-262-3742
thanson@internap.com
Internap Media Contact
Bill Hankes
Internap Network Services
+1-206-262-3737
bhankes@internap.com
About Internap
Founded in 1996 in Seattle, Internap provides Internet connectivity that is faster and more reliable than conventional Internet service. Internap's
patented route management technology provides direct data transmission across the major Internet backbones through a single connection from a
customer's network to one of Internap's Service Points. Internap's customers bypass congestion points on the Internet, avoiding packet loss,
latency and other difficulties that can plague conventional Internet connectivity. Internap services are currently available in numerous key markets
throughout the United States including Atlanta, Boston, Chicago, Los Angeles, New York, San Jose and Seattle. Major companies and networks
served by Internap include The Nasdaq Stock Market, Datek Online, Colgate Palmolive, Earthlink, Travelocity and many others. Internap(R) and
P-NAP(R) are registered trademarks of Internap. All other trademarks and brands are the property of their respective owners. For more information,
visit www.Internap.com.
"Safe Harbor" Statement
This release may contain projections or other forward-looking statements that involve risks and uncertainties. Readers are cautioned that these
statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by Internap
with the SEC, including without limitation its Report on Form 10-Q for the quarter ended March 31, 2001 and Report on Form 10-K for the year ended
December 31, 2000 and any later periodic reports, which identify important risk factors that could cause actual results to differ from those contained
in the forward-looking statements, including, among other things, Internap's history of operating losses and expected future losses, Internap's
limited operating history, fluctuations in Internap's quarterly operating results, Internap's need for additional capital, Internet infrastructure and
regulatory changes, volatility of stock price, deployment of new Service Points, integration of acquired businesses and rapid technological and
market change. All forward-looking statements are based on information available to Internap on the date hereof, and Internap assumes no
obligation to update such statements.
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