Internap Announces CEO Appointment And VP Sales Resignation

📅 April 2, 2002 - Internap Network Services, an intelligent routing services provider,announced today that its board of directors has named Greg Peters presidentand chief executive officer, effective immediately. Peters makes thetransition from founder, president and CEO of California-based MahiNetworks.

Assuming a new role as executive chairman, Gene Eidenberg--Internap'sinterim CEO for the past eight months--will remain as an active member ofthe executive team, and continuing his duties as chairman of Internap'sboard of directors.
"With sequentially increasing revenues, declining losses, and more than $60million cash on hand, Greg is taking control of a company that has turnedthe corner and is on track to achieving EBITDA profitability this year,"said Eidenberg.
Peters has served in both start-up and established enterprises, mostrecently as president and CEO of Mahi Networks(mahinetworks.com). Overseeing the development of Mahi's technology, Peters played an integral role in Mahi the next-generationconverged product for the metro core incorporating carrier class TDM, ATM,IP and optical capabilities in a single platform. As part of itsmarket-delivery strategy, Peters led the effort to obtain trial commitmentsfrom Verizon, Time Warner Telecom, Qwest and WorldCom. Prior to Mahi, Petersserved in a number of increasingly senior executive positions for AdvancedFibre Communications, Adtran, Inc. and AT&T.
"As the only IP network service provider that can optimally route data overthe Internet, Internap (internap.com -> inap.com) is positioned tocapitalize upon a rapidly growing market opportunity," said Peters.Internap also announced that Bob Gionesi will leave his post as vicepresident of sales to become co-founder and executive vice president ofMeridian Telesis Ventures, effective immediately. Meridian Telesis Venturesis a collocation and third-party management company owned in part byMeridanTelesis Holdings, an Internap preferred collocation partner.Most recently regional vice president of sales for the eastern UnitedStates, Bill Betz has been named interim vice president of sales while anational search is conducted. Betz has served Internap in increasinglysenior sales management positions since 1998, prior to which he was part ofthe MCI sales organization for more than seven years.