Nov 22, 2004 : VitalStream President Resigns
📅 - VitalStream Holdings, Inc. (vitalstream.com -> inap.com), the parent company of VitalStream, Inc., announced on Sunday that Paul S. Summers resigned as CEO and president of VitalStream Holdings, Inc. and its main operating subsidiary, VitalStream, Inc.
Philip N. Kaplan, co-founder and COO of the company since its inception, has been appointed as president of VitalStream Holdings, Inc. in addition to his role as COO. Michael F. Linos, previously the Company's VP of sales, has been promoted to the position of executive VP, sales and marketing, with responsibility for sales, marketing and business development.
As VitalStream's operations continues to expand, Summers and the board of directors felt that the company would benefit from a CEO with additional operational and public company executive experience to further achieve its strategic goals. Summers? will continue to serve as a director of the company, as the company expects to appoint a new CEO by early 2005. In the interim, Kaplan, along with other senior management, will manage the former day-to-day duties of Summers.
"As a result of Paul's efforts and those of the rest of our team, we believe we are well-positioned to make VitalStream the premier provider and recognized leader in the content delivery services market," says Kaplan. "We continue to build momentum as evidenced by our revenue growth of 51 percent in the third quarter of 2004 and 34 percent for the first nine months of 2004, and the growing demand for our products and services."
Philip N. Kaplan, co-founder and COO of the company since its inception, has been appointed as president of VitalStream Holdings, Inc. in addition to his role as COO. Michael F. Linos, previously the Company's VP of sales, has been promoted to the position of executive VP, sales and marketing, with responsibility for sales, marketing and business development.
As VitalStream's operations continues to expand, Summers and the board of directors felt that the company would benefit from a CEO with additional operational and public company executive experience to further achieve its strategic goals. Summers? will continue to serve as a director of the company, as the company expects to appoint a new CEO by early 2005. In the interim, Kaplan, along with other senior management, will manage the former day-to-day duties of Summers.
"As a result of Paul's efforts and those of the rest of our team, we believe we are well-positioned to make VitalStream the premier provider and recognized leader in the content delivery services market," says Kaplan. "We continue to build momentum as evidenced by our revenue growth of 51 percent in the third quarter of 2004 and 34 percent for the first nine months of 2004, and the growing demand for our products and services."
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Company: vitalstream.com [vitalstream.com -> inap.com]
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