DSL.net
Names Kirby Pickle as Chief Executive Officer; New CEO
Brings Extensive Telecom Leadership Experience
[April 15, 2004]
NEW
HAVEN, Conn., Apr 15, 2004 (BUSINESS WIRE) -- DSL.net,
Inc. (DSLN) , a leading nationwide provider of broadband
communications services to businesses, today announced
that its Board of Directors has named veteran telecommunications
executive Kirby G. "Buddy" Pickle as DSL.net's
new chief executive officer. Pickle's appointment commenced
today.
Pickle, whose telecommunications experience
spans more than 25 years and includes senior positions
at Fortune 500 companies, startups and restructuring
situations, will replace David F. Struwas, an original
founder of DSL.net who had been CEO since November 1998.
Struwas is resigning to allow him more time to focus
on other opportunities in the technology sector. Pickle
said he expects Struwas to remain as a special consultant
to the CEO and the Company during a transitional period.
"Buddy Pickle brings a tremendous
variety of telecommunications expertise that includes
creating and integrating mergers and acquisitions, leading
growth companies, leading network builds, building dynamic
and successful sales and marketing organizations, and
restructuring companies from financial, strategic and
operational perspectives," said Struwas. "Buddy
will be a welcomed addition to the DSL.net management
team and we look forward to him leading the Company
into its next stage of evolution."
Pickle comes to DSL.net having completed
the financial restructuring of Velocita Corporation,
where he served as president and chief executive officer.
Pickle also is a former president and chief operating
officer for business-to-business data and telecommunications
providers Teligent and UUNet Technologies. In addition,
Pickle was one of the original senior leaders at MFS
Communications, prior to its sale to WorldCom. He also
has held senior leadership positions at Sprint, as well
as various sales, marketing and operations management
posts at MCI and AT&T.
"I am very excited to be joining
the DSL.net team," said Pickle. "Dave and
the senior management team have built a very solid foundation
over the last five years and I look forward to leading
the Company's pursuit of strategic opportunities that
exist within the voice and broadband markets."
In connection with Pickle's appointment,
the Board of Directors granted the new CEO an inducement
non-qualified stock option to purchase 10 million shares
of DSL.net common stock at an exercise price equal to
the closing price for the Company's common stock, as
listed on Nasdaq, on April 14, 2004.
Under Struwas, DSL.net grew its annual
revenue to more than $71 million in 2003, an increase
of approximately 5,400% over a five-year period, and
also made several acquisitions that extended the Company's
network reach, as well as helped DSL.net transition
from a pure data communications firm to a voice and
data services provider.
About DSL.net
DSL.net, Inc. is a leading nationwide
provider of broadband communications services to businesses.
The Company combines its own facilities, nationwide
network infrastructure and Internet Service Provider
(ISP) capabilities to provide high-speed Internet access,
private network solutions and value-added services directly
to small- and medium-sized businesses or larger enterprises
looking to connect multiple locations. DSL.net product
offerings include T-1, DS-3 and business-class DSL services,
virtual private networks (VPNs), frame relay, Web hosting,
DNS management, enhanced e-mail, online data backup
and recovery services, firewalls and nationwide dial-up
services, as well as integrated voice and data offerings
in select markets. For more information, visit www.dsl.net,
e-mail info@dsl.net, or call 1-877-DSL-NET1 (1-877-375-6381).
This press release may contain forward-looking
statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended,
and, to the extent it does, these forward-looking statements
are subject to a variety of risks and uncertainties,
many of which are beyond DSL.net's control, which could
cause actual results to differ materially from those
contemplated in these forward-looking statements. Risks
and uncertainties associated with DSL.net's business
include, among other things, (i) DSL.net's failure to
generate sufficient revenue, contain certain discretionary
spending, achieve certain other business plan objectives,
or obtain additional debt or equity financing, which
could have a material adverse effect on DSL.net's results
of operations or financial position, or cause it to
restructure its operations to further reduce operating
costs; (ii) risks associated with the possible removal
of DSL.net's common stock from the Nasdaq SmallCap Market,
which removal could adversely impact the pricing and
trading of DSL.net's common stock; (iii) regulatory,
legislative and judicial developments, which could adversely
affect the way DSL.net operates its business; and (iv)
DSL.net's ability to attract and retain qualified personnel
necessary to enable it to execute its business plans.
Existing and prospective investors are cautioned not
to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. DSL.net undertakes
no obligation, and disclaims any obligation, to update
or revise the information contained in this press release,
whether as a result of new information, future events
or circumstances or otherwise. For additional information
regarding these and other risks faced by DSL.net, see
the disclosure contained under "Risk Factors''
in DSL.net's Annual Report on Form 10-K for the year
ended December 31, 2003, which has been filed with the
Securities and Exchange Commission.
DSL.net is a trademark of DSL.net, Inc.
SOURCE: DSL.net, Inc.
DSL.net, Inc.
Media:
Joe Tomkowicz, 203-782-3885
jtomkowicz@dsl.net
Investors:
Bob DeSantis, 203-782-3267
investors@dsl.net
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