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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Glenn McDougall who wrote (5418)	7/3/1998 8:34:00 AM
From: CJS	Read Replies (2) \| Respond to of 18016

>You are responding to this message from Glenn McDougall on Jul 3 1998 >7:08AM EST > Newbridge sales exec quits post > Kanata firm in battle for U.S. market share > Andrew McIntosh > The Ottawa Citizen > The top sales executive in the United States for Newbridge >Networks Corp. > has left the Kanata-based company amid suggestions that the >equipment > maker is losing ground south of the border to rival Cisco >Systems Inc. > Newbridge confirmed yesterday that Richard Berger, its top >U.S. sales > executive, left the telecommunications-equipment maker less >than a month > after the firm's new president, Alan Lutz, took the helm in >early June. A > Newbridge spokesman emphasized that Mr. Berger was not fired. > After discussions with Mr. Lutz and Michael Pascoe, a >Newbridge executive > vice-president and general manager for the Americas, the >spokesman said, > Mr. Berger decided to leave to pursue other career >opportunities. > Mr. Pascoe has assumed Mr. Berger's duties until a successor >is hired. > Duncan Stewart, a technology portfolio manager and partner at >Tera Capital > of Toronto, said the move is minor -- but likely the beginning >of a broader > shake-up. > "Mr. Lutz has a reputation as being a guy who can make these >moves when > they are necessary," Mr. Stewart said. "It is unlikely he was >brought in by the > brass at Newbridge to carry out just one." Bringing in some fresh talent will be good for Newbridge ! Lets hope Mr. Lutz's work will translate into renewed ferver within Newbridge. Regards...

To: Glenn McDougall who wrote (5418)	7/3/1998 3:00:00 PM
From: pat mudge	Read Replies (1) \| Respond to of 18016

Glenn -- WSJ's differs only slightly from the others already posted: <<< Dow Jones Newswires -- July 2, 1998 Newbridge U.S. Sales Chief Departs; Analysts Not Surprised By BEN DUMMETT Dow Jones Newswires TORONTO -- Alan Lutz, Newbridge Networks Corp.'s (NN) new president and chief operating officer, isn't wasting any time putting his stamp on the company. A Newbridge spokesman confirmed that Richard Berger, head of U.S. sales for Newbridge, recently left the company, less than a month after Lutz's appointment. The spokesman said Berger wasn't fired. "It was mutually agreed by both parties" that Berger should consider other options outside Newbridge. Both Lutz and Michael Pascoe, Newbridge's executive vice-president and general manager Americas region, participated in the discussions that led to Berger's decision to leave the company, the spokesman said. Pascoe said a search for Berger's replacement is ongoing, and he will assume Berger's duties until a successor is chosen. Newbridge, a manufuacturer of high speed asynchronous transfer mode, or ATM, networking switch technology, announced Lutz's appointment following a series of disappointing quarterly earning results and a steep decrease in the company's share price. Lutz, a veteran of the telecommunications and networking industry, replaced Peter Charbonneau, who was appointed a vice-chairman of the company. Peter Sommerer, a former Newbridge president, is the company's other vice-chairman. Analysts weren't surprised by Berger's departure. "We believe (Berger's departure) is part of shakeup of management being pursued by Alan Lutz to improve the performance of the company," said David Beck, analyst at Toronto-based TD Securities Inc. Analysts also noted that Richard Berger's departure from Newbridge Networks Corp. (NN) comes when it is perceived in the market that Newbridge is losing market share in the U.S. Over the last six months, most of Newbridge's contract wins have come from overseas, remarked Paul Sagawa, analyst at Sanford C. Bernstein & Co. A noticeable exception, Sagawa said, was Newbridge's announcement in May to supply ATM equipment to AT&T Solutions, a unit of AT&T Corp. (T). A break down of Newbridge's market share in the U.S. versus its competitors wasn't immediately available. However, Newbridge's share of the worldwide ATM-WAN (asynchronous transfer mode-wide area network) market has been showing signs of leveling out over the last several months, while competitor Cisco Systems Inc. (CSCO) has seen its share increase dramatically over the same period. Newbridge's worldwide ATM-WAN market share, based on generated revenue from equipment sales, had increased to 23.1% in the first quarter of 1998 from 19.8% in the first quarter of 1996. By comparison, Cisco has seen its ATM-WAN market share jump to 29.6% from 12.15% over the same period, said Jeremy Duke, director of networking market research at Cahners In-Stat Group, a market research group in the U.S. Cisco, which replaced Newbridge as the market leader in worldwide ATM-WAN equipment sales in the first quarter of 1997, has been building up its sales force in this market, and benefits from its ability to offer customers a greater breadth of products than Newbridge now has available, Duke said. Northern Telecom Ltd. (NT) has the third biggest share of the ATM-WAN market, Duke said.>>>