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News Releases
New Edge Expands Its Board of Directors, Appoints Two New Members
VANCOUVER, Wash. – (July 1, 2002) – New Edge Networks, a national business broadband services provider, announced today it has expanded its board of directors and appointed two new members. The appointments are effective immediately.
New director appointments are Sherry M. Stolack, an associate in the principal investment area at Goldman, Sachs & Co., and David L. Sze, general partner for Greylock, a Boston-based venture capital firm.
Stolack takes a newly created director seat for Goldman Sachs and affiliated investment partnerships, which has provided financial sponsorship to New Edge Networks since January 2000. Goldman Sachs now maintains two seats on the New Edge Networks seven-member board of directors.
Sze succeeds Roger Evans as the Greylock representative on the board of directors. Greylock has provided financial sponsorship to New Edge Networks since the company was formed in June 1999.
“We are fortunate to have the financial sponsorship and guidance from tier one investment firms,” said Dan Moffat, president and CEO of New Edge Networks. “We continue to grow and thrive in the face of economic adversity because of the leadership and support from our principal investors and their representatives on our board of directors.
“I appreciate and thank Mr. Evans for his leadership over the past three years,” Moffat said. “I welcome our new directors and look forward to their contributions.”
Since joining Goldman Sachs in July 1997, Stolack has been focused on the telecommunications sector as both an advisor to clients and an investor in early-stage companies. She has a bachelor’s degree in economics from The Wharton School of The University of Pennsylvania. Stolack is based in New York.
Sze joined Greylock as a general partner in January 2000. Prior to Greylock, he was a vice president and general manager at Excite Corp. and then senior vice president of product strategy for Excite At Home Corp. He received a bachelor’s degree from Yale University and an MBA from the Stanford Graduate School of Business. Sze is based in San Mateo, Calif.
In addition to Moffat, Stolack and Sze, other members of New Edge Networks’ board of directors include: Rob Gheewalla, Goldman Sachs, New York; Jay Misra, private investor, Jersey City, NJ; Rich Shapero, Crosspoint Venture Partners, Woodside, Calif., and; Peter Wagner, Accel Partners, Palo Alto, Calif.
About New Edge Networks
New Edge Networks is a national business class broadband services provider that owns and operates one of the largest multi-service data communications networks in the United States. In addition to providing frame relay, wide area networks, and other advanced data services nationally, New Edge has one of the largest DSL coverage footprints for small and midsize cities across the country. The company also provides dedicated high-speed Internet access in 27 major cites around the country. New Edge Networks offers frame relay access and gateway products through agent programs or complementary arrangements with other carriers. It provides a wide variety of business class DSL and T-1 solutions through Internet Service Providers or its own direct channel under the TransEdge brand. Top-tier private venture firms, global financial institutions and worldwide technology firms provide financial backing to New Edge Networks. The company’s Web site is www.newedgenetworks.com. Telephone: 1-360-693-9009.
Contact:
Sal Cinquegrani
(360) 906-9723
ATTN: New Edge Networks news releases contain information that is accurate as of the date they are issued. Information contained in past news releases may become out of date and the company does not assume responsibility for updating information contained in past news releases.