AVICI SYSTEMS ANNOUNCES ORGANIZATION CHANGES
Panditi and Kaufman Named to New Positions
N. Billerica, Mass., January 02, 2001 -- Avici Systems Inc. (Nasdaq: AVCI), a leading provider of scalable core routing solutions for intelligent IP-over-optical networks, today announced that its Board of Directors has elected chief executive officer, Surya Panditi, to the position of co-chairman and Steve Kaufman, chief operating officer, to the position of president. Both promotions are effective January 1, 2001.
"It is with great pleasure that we announce these changes," said Jim Swartz, Avici's chairman. "This solidifies Avici's management team and will provide the individual focus necessary as the company prepares for continued growth. In his role as co-chairman and CEO, Panditi will focus on longer-term company strategy as well as establishing and maintaining relationships with new and existing customers and business partners. In his role as president and COO, Kaufman will assume complete day -to-day operating responsibility and focus on the execution of the business plan."
Panditi joined Avici in June 1997 and as president and CEO directed the company's growth and development as it made its transition to a public company in July 2000. Prior to Avici, Panditi was vice president and general manager of the LAN Infrastructure Business Unit at US Robotics. Previous to US Robotics, his experience includes many years at Intel, Ungermann-Bass and Telco Systems, where he was vice president and general manager of the Magnalink Communications Division.
Kaufman joined Avici in late July 2000 as its COO to spearhead operations. Prior to Avici, Kaufman was president of Lucent's multiservice core networks division. Previously, he was vice president and general manager of core switching and vice president of product management for Lucent's carrier networks division and was also a general manager in Lucent's microelectronics group, now known as Agere Systems. Prior to Lucent, he worked at Intel Corporation where he held a variety of marketing management roles on the Pentium processor family of products.
About Avici Systems
Avici Systems Inc., headquartered in North Billerica, Mass., is a developer
of next-generation Internet backbone platforms that optimize and drive
creation of all-optical "speed-of-light" networks. Designed
to bring packet intelligence to the core of optical networks, Avici's
technologies offer superior scalability, resiliency and port density
enabling just-in-time bandwidth provisioning, high reliability and
the quality of service needed for carriers and ISPs to support mission-critical
applications of the future. Visit Avici's World Wide Website at http://www.avici.com.
TSR and Avici are registered trademarks of Avici Systems Inc.
This release may contain information about Avici's future expectations, plans, and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those anticipated.
Such risks and uncertainties include, but are not limited to, market acceptance of Avici products, services and enhancements, customer purchasing patterns and commitments, development of the market place, product development and enhancement, intensity of competition of other vendors, technological changes and other risks set forth in Avici's filings with the Securities and Exchange Commission.
| For more information contact: |
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| Esmeralda Swartz Director of Strategic Marketing Avici Systems 978-964-2000 eswartz@avici.com |
Cathy Caldeira/Dylan Locsin LNS Communications 617-577-9777 ccaldeira@LNScom.com dlocsin@LNScom.com |