Akamai Appoints Robert Cobuzzi As CFO
Cambridge, MA - November 14, 2002 - Akamai Technologies, Inc. (Nasdaq: AKAM), a provider of products and services that enable the world's leading enterprises and government agencies to extend and control their e-business infrastructure, today announced the appointment of Robert (Bob) Cobuzzi as Chief Financial Officer. Mr. Cobuzzi is an experienced public company CFO with a broad background in finance, accounting, and operations from several companies in the industrial, telecommunications, and manufacturing sectors. Mr. Cobuzzi's appointment to CFO is effective November 18.
Mr. Cobuzzi most recently was Executive Vice President and CFO of Network Plus Corporation, a provider of broadband data, telecommunications, and data hosting services. At Network Plus, he managed an organization of 200 associates in the areas of finance, operations and human resources.
Prior to Network Plus, Mr. Cobuzzi was Senior Vice President and CFO of Kollmorgen Corporation, a $400 million global leader in providing high-performance electronic motion control equipment, systems software, and services to industrial, commercial, aerospace, and defense customers. Mr. Cobuzzi directed an international staff of 110 finance, treasury, MIS, and operating professionals. In addition to successfully negotiating and integrating a total of six acquisitions (four international), and establishing two Asian manufacturing joint ventures, he was instrumental in contributing to Kollmorgen's significant growth in shareholder value.
"We are delighted to have Bob Cobuzzi as our new CFO," said George Conrades, chairman and CEO of Akamai. "His impressive background as an accomplished financial officer, including his strong operating experience, the respect that he has earned on Wall Street, and his track record of increasing shareholder value, will immediately contribute to the execution of the plans we have in place to achieve our financial goals."
"As a leader and innovator in today's IT market, Akamai has positioned itself for success through establishing a trust and respect from its enterprise and government accounts," said Robert Cobuzzi. "I look forward to working with the strong Akamai senior management team, and to becoming part of a company that has revolutionized information movement through its pervasive distributed computing model."
A Massachusetts native, Mr. Cobuzzi's career spans a number of successful businesses in the Boston area. He has served as Vice President and Chief Financial Officer of High Voltage Engineering, a $150 million venture-backed, diverse manufacturer of high-powered electronic drive systems, electronic components, and instrumentation.
He has also served as Vice President of Finance and Administration for Ausimont USA, Inc., a $1 billion global manufacturer of specialty chemicals, primarily serving the automotive and telecommunications industries.
Mr. Cobuzzi received a MBA from Northeastern University and a B.S. in accounting from Bentley College.
About Akamai
Akamai provides products and services that enable the world's leading enterprises and government agencies to extend and control their e-business infrastructure. Having deployed the world's largest, globally-distributed computing platform, Akamai ensures the highest levels of availability, reliability, security, and performance of networked information and applications delivery between the origin and the destination of any e-business process. Headquartered in Cambridge, Massachusetts, with research and development centers around the world, Akamai's industry-leading products and services, matched with world-class customer care, are used by hundreds of successful enterprises, government entities, and Web businesses around the globe. For more information, visit www.akamai.com.
Akamai Statement Under the Private Securities Litigation Reform Act
The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, the dependence on Akamai's Internet content delivery service and technology products, the effects of any attempts to intentionally disrupt our services or network by hackers or others, failure of our telecommunications suppliers to provide sufficient transmission capacity, a failure of Akamai's network infrastructure, and other factors that are discussed in the Company's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC.
| Contacts: |
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| Jeff Young Media Relations Akamai Technologies 617-444-3913 jyoung@akamai.com |
--or-- | J.C. Raby Investor Relations Akamai Technologies 617-444-2555 jraby@akamai.com |
Cambridge, MA - November 14, 2002 - Akamai Technologies, Inc. (Nasdaq: AKAM), a provider of products and services that enable the world's leading enterprises and government agencies to extend and control their e-business infrastructure, today announced the appointment of Robert (Bob) Cobuzzi as Chief Financial Officer. Mr. Cobuzzi is an experienced public company CFO with a broad background in finance, accounting, and operations from several companies in the industrial, telecommunications, and manufacturing sectors. Mr. Cobuzzi's appointment to CFO is effective November 18.
Mr. Cobuzzi most recently was Executive Vice President and CFO of Network Plus Corporation, a provider of broadband data, telecommunications, and data hosting services. At Network Plus, he managed an organization of 200 associates in the areas of finance, operations and human resources.
Prior to Network Plus, Mr. Cobuzzi was Senior Vice President and CFO of Kollmorgen Corporation, a $400 million global leader in providing high-performance electronic motion control equipment, systems software, and services to industrial, commercial, aerospace, and defense customers. Mr. Cobuzzi directed an international staff of 110 finance, treasury, MIS, and operating professionals. In addition to successfully negotiating and integrating a total of six acquisitions (four international), and establishing two Asian manufacturing joint ventures, he was instrumental in contributing to Kollmorgen's significant growth in shareholder value.
"We are delighted to have Bob Cobuzzi as our new CFO," said George Conrades, chairman and CEO of Akamai. "His impressive background as an accomplished financial officer, including his strong operating experience, the respect that he has earned on Wall Street, and his track record of increasing shareholder value, will immediately contribute to the execution of the plans we have in place to achieve our financial goals."
"As a leader and innovator in today's IT market, Akamai has positioned itself for success through establishing a trust and respect from its enterprise and government accounts," said Robert Cobuzzi. "I look forward to working with the strong Akamai senior management team, and to becoming part of a company that has revolutionized information movement through its pervasive distributed computing model."
A Massachusetts native, Mr. Cobuzzi's career spans a number of successful businesses in the Boston area. He has served as Vice President and Chief Financial Officer of High Voltage Engineering, a $150 million venture-backed, diverse manufacturer of high-powered electronic drive systems, electronic components, and instrumentation.
He has also served as Vice President of Finance and Administration for Ausimont USA, Inc., a $1 billion global manufacturer of specialty chemicals, primarily serving the automotive and telecommunications industries.
Mr. Cobuzzi received a MBA from Northeastern University and a B.S. in accounting from Bentley College.
About Akamai
Akamai provides products and services that enable the world's leading enterprises and government agencies to extend and control their e-business infrastructure. Having deployed the world's largest, globally-distributed computing platform, Akamai ensures the highest levels of availability, reliability, security, and performance of networked information and applications delivery between the origin and the destination of any e-business process. Headquartered in Cambridge, Massachusetts, with research and development centers around the world, Akamai's industry-leading products and services, matched with world-class customer care, are used by hundreds of successful enterprises, government entities, and Web businesses around the globe. For more information, visit www.akamai.com.
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Akamai Statement Under the Private Securities Litigation Reform Act
The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, the dependence on Akamai's Internet content delivery service and technology products, the effects of any attempts to intentionally disrupt our services or network by hackers or others, failure of our telecommunications suppliers to provide sufficient transmission capacity, a failure of Akamai's network infrastructure, and other factors that are discussed in the Company's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC.
