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VeriSign Inc., the leading provider of digital infrastructure for the networked world, announced that Albert E. "Bert" Clement has been elected chief financial officer (CFO) and Richard H. "Rick" Goshorn has been named senior vice president, general counsel and secretary.
Monday's financial news was largely subjugated by rumors of a huge $160 billion bid on the telecommunication industry which boosted the Dow Jones Industrials to a new level. The Dow closed up 40.89 points to 13,948.14, adding 0.3 % and flirting eye in eye with the 14,000 yardstick. Whilst the Dow Jones is on frenzy flight to the sky, the other major indexes tumbled on the ongoing blitz of second quarter earning reports and inflation statistics and appreciation from Federal Reserve Chairman Ben Bernanke. At the bell, The Standard & Poor's 500 index slithered by 0.19% to 1,549.52 after signing a spanking new record of 1,555.90. The NASDAQ composite index fell 9.67, or 0.36 %, to 2,697.33.
With acquisition and merger activities making a full-scale assault on cooperate news recently, investors feel shielded from jitters of a possible rate hike that shook the market without mercy a few weeks back. Considering the latest talk of the town which has already been denied by the one of the party involved, investors could be ogling at the largest cooperate acquisition that has ever came to occur on the market, outweighing the AOL/ Time Warner record merger. The investors' world would be contemplating at the creation of a $300 Billion business. Vodafone, the world's biggest wireless-network provider, made it clear that every bite of the news was just speculation and its only business with Verizon is within the 45% ownership of the company's cellular unit, Verizon Wireless. On a market perspective, Verizon (NYSE: VZ) share value surge by 2.4% despite the fact that Vodafone finished down 0.6%.
Chat real-time with other investors about Verizon, by clicking this link: http://www.stockwire.com/VZ
Bringing the limelight back to VeriSign Inc. let us delve into the company's history and prospects. In general, the company operates digital infrastructure services that enable and protect billions of interactions every day across the world's voice, video and data networks.
Focusing on the content of the news the company sent out recently to the public, VeriSign Inc. stated that it announced on July 12, 2007, that Bert Clement was elected CFO, bringing more than 20 years of experience in finance and accounting for high technology companies to the position. As CFO, Clement is responsible for managing worldwide company operations related to finance and accounting, property management and investor relations.
After joining VeriSign through the acquisition of Network Solutions, Inc. in December 2000, Clement served as senior vice president, finance and controller. Over the past seven years, he has been a key member of VeriSign's leadership team, helping to set business strategy, manage acquisition integrations and contribute to corporate profitability.
Prior to joining VeriSign, Clement was an executive at MCI Communications and BroadPoint Communications. He also provided executive level consulting and advisory business services to public companies while at PricewaterhouseCoopers LLP.
In addition, VeriSign named Rick Goshorn as senior vice president, general counsel and secretary. As VeriSign's new chief legal officer, Goshorn will drive internal processes throughout the company, and will work with CEO Bill Roper to ensure the company continues its emphasis on managerial discipline and execution. A seasoned executive, he brings to VeriSign more than 26 years of experience in driving global business and legal initiatives.
Prior to joining VeriSign, Goshorn was general counsel for Akin Gump Strauss Hauer & Feld LLP in Washington, D.C. and before that served as corporate vice president, general counsel and secretary for Acterna Corporation. Previously, he held a variety of senior executive legal roles over a ten-year period at Cable and Wireless PLC in London, Brussels, Singapore and Washington, where he served as senior vice president and general counsel for Cable & Wireless Global.
"We're pleased to have Rick join our senior leadership team as he brings a fresh viewpoint to VeriSign's solid and proven management team already in place," said Bill Roper, president and CEO, VeriSign. "We are also happy that Bert has stepped up to fill a very important role as CFO and that VeriSign will continue to benefit from his leadership and strategic input."
The new executives will join VeriSign's core management team, which remains firmly in place to manage the company's principal operations. That team consists of:
-- Mark D. McLaughlin, executive vice president of products, marketing and customer care, who is responsible for product development, global marketing and customer care; -- John Donovan, executive vice president of global sales and services, who is responsible for VeriSign's global sales and consulting organization; -- Aristotle Balogh, chief technology officer and head of global product development, who leads all areas of product development and technology deployment; -- Bob Korzeniewski, executive vice president of corporate development, who is responsible for providing a consistent strategy and focus for investments and merger-and-acquisition activity.
As the saying goes...follow the money!
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