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VeriSign Transforms Business Structure to Meet Accelerating Demand for Digital Infrastructure Services in the “Any Era”

  • 26 January, 2007 09:57

<p>VeriSign, Inc. (NASDAQ: VRSN), the leading provider of intelligent infrastructure for the networked world, today announced a new business structure designed to better serve its customers’ next-generation infrastructure needs while simultaneously streamlining the company’s operations. The new functional organisation replaces the previous business unit structure with a combined sales and services team and an integrated products organisation enabling VeriSign to better deliver its broad portfolio of digital infrastructure services to a global customer base.</p>
<p>“VeriSign is more than security, more than .com, and more than telecom. Over the past 12 years, we have built the world’s most powerful digital infrastructure that enables and protects more than 25 billion interactions every day,” said Stratton Sclavos, Chief Executive Officer and Chairman, VeriSign. “Today, we take the next step in our evolution. We believe this new organisation structure will allow all of our employees to focus on a common goal – enabling our customers to accelerate their transformation to the Any Era by helping them bring new services to market more quickly and efficiently.”</p>
<p>VeriSign’s vision for the “Any Era” reflects the company’s response to the major shift in the way people work, play and live as the world’s interactions move from physical to digital. Consumers are now in charge, and they expect access to information, content, entertainment and commerce any time, anywhere via any channel, network or device. Today’s businesses – regardless of industry – must respond with scalable, reliable and secure network-based services. VeriSign’s globally deployed digital infrastructure provides the foundation for many of the most innovative solutions now being delivered by thousands of companies across the globe.</p>
<p>A New Business Structure To Meet Customer Needs</p>
<p>Under the new operating structure, VeriSign’s three previous business units – VeriSign Security Services (VSS), VeriSign Information Services (VIS) and VeriSign Communications Services (VCS) – are now combined to deliver an integrated portfolio through a unified sales and service team across multiple industries. The company will have two main functional units, each led by a VeriSign or industry veteran reporting directly to the CEO:</p>
<p>• Sales and Consulting Services: This group will combine VeriSign’s multiple sales and consulting functions into one organisation, focused on global accounts, strategic partnerships and worldwide channel relationships. The group will be aligned by vertical industry to focus on specialised customer needs and solutions delivery, and will also include the company’s in-market consulting services, Business Development and Global Channels teams. The group will be led by Executive Vice President John Donovan, formerly CEO of InCode Wireless, which was acquired by VeriSign in November 2006.</p>
<p>• Products and Marketing: This group is responsible for the development, marketing, delivery and support of all VeriSign products and solutions to businesses of all sizes. The organisation includes all facets of product management, product development, marketing and customer support, as well as, a new innovation team chartered with looking at longer term product line synergies and emerging market trends. Core product teams will work closely with newly dedicated solutions marketing teams to address market needs in media and entertainment, telecom, financial services, healthcare, retail and public sector. The group will be led by Executive Vice President Mark McLaughlin, a 7-year VeriSign veteran and formerly the head of VeriSign Information Services.</p>
<p>“VeriSign’s new structure will make us a better business partner, and we value the feedback our customers have provided throughout the process,” said Sclavos. “What’s really exciting is that we can unleash our full portfolio to deliver more integrated solutions that help our customers capitalise on their biggest opportunities across multiple industries.”</p>
<p>Expanded Leadership Team</p>
<p>In addition to VeriSign’s new customer-facing organisations led by McLaughlin and Donovan, VeriSign has added two new senior roles reporting to CEO Stratton Sclavos:</p>
<p>• Ari Balogh, a 9-year VeriSign veteran, has taken on the dual role of Chief Technology Officer and head of global product development, charged with working both internally and externally to accelerate product innovation and push forward best practices in technology and architecture. Balogh was previously executive vice president of VeriSign Operations and Infrastructure.</p>
<p>• Rod McCowan recently joined VeriSign as Executive Vice President, Global Human Resources, charged with driving all aspects of the company’s Human Capital Plan to retain, recruit and develop a world-class organisation. McCowan comes to VeriSign from Hitachi Data Systems where he served as senior vice president of Global Human Resources.</p>
<p>Executive Vice President and Chief Financial Officer Dana Evan continues in her role leading VeriSign’s finance functions and Executive Vice President Bob Korzeniewski continues leading VeriSign’s corporate development team, both reporting to Sclavos.</p>
<p>More information on the company realignment and management changes will be made available on VeriSign’s quarterly earnings call, which will take place on Wednesday, January 31, 2007. VeriSign executive biographies can be found at http://investor.verisign.com/management.cfm.</p>
<p>About VeriSign</p>
<p>VeriSign, Inc. (Nasdaq: VRSN), operates intelligent infrastructure services that enable and protect billions of interactions every day across the world’s voice and data networks. Additional news and information about the company is available at www.verisign.com.</p>
<p>Trademarks</p>
<p>VeriSign, and other trademarks, service marks, and logos are registered or unregistered trademarks of VeriSign and its subsidiaries in the United States and in foreign countries.</p>
<p>Copyright © 2007 VeriSign, Inc. All rights reserved.</p>
<p>For more information, contact:VeriSign Media Relations: Emma Keen, ekeen@verisign.com.au, +61 2 9236 0572</p>
<p>Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services; the possibility that VeriSign’s announced new services may not result in additional customers, profits or revenues; and increased competition and pricing pressures. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2005 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.</p>
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