Covad Names Eric Weiss Chief Marketing Officer
IP Communications veteran to focus on accelerating revenue growth
San Jose, CA (August 14, 2006) - Covad Communications Group, Inc. (AMEX: DVW), a leading national provider of integrated voice and data communications, today named Eric Weiss chief marketing officer, effective immediately. Weiss is a 15-year veteran in key areas of strategic focus for Covad: retail and wholesale communications, voice over IP, wireless, broadband, and other enhanced IP services for businesses.
Weiss will lead Covad’s effort to accelerate revenue growth from new and existing service offerings and marketing initiatives. He will oversee marketing, product management and product strategy and will report to Covad’s president and CEO, Charles Hoffman.
“Eric is a vital addition to the Covad management team as we continue to focus on profitable revenue growth,” said Hoffman. “Throughout his career he has demonstrated his ability to achieve rapid growth from next-generation networks, whether in start-up ventures or by launching new lines of business within larger public companies.”
“I am thrilled to join the Covad team,” said Weiss. “Covad is uniquely positioned to help businesses realize the cost benefits and enhanced features of next generation IP and wireless networks.”
Weiss brings extensive marketing, product management and business development experience in the telecommunications, IP services and software industries. Prior to joining Covad, Weiss served as an Executive in Residence for the telecommunications practice of the private equity firm Warburg Pincus, an extension of his role as senior vice president and general manager of Mobile Applications for Aicent, Inc., a Warburg portfolio company. Before joining Aicent, he was vice president of Macromedia’s telecom solutions business, where he was responsible for product marketing, business development, engineering and strategy. Weiss served previously as chief operating officer at ITXC Corp as it became the global market share leader in international VoIP (voice over IP) services. As part of the original management team that founded ITXC, Weiss was instrumental to growing annual revenues from zero to $338 million, taking the company public in 1999, and building out its next generation IP communications network in over 200 countries. He has also held management positions with Dialogic (now Intel), BCE Ventures, and Hewlett-Packard. Weiss earned an MBA from Harvard Business School and a Masters in Public Policy from Harvard’s Kennedy School of Government.
Covad is a leading nationwide provider of integrated voice and data communications. The company offers DSL, Voice Over IP, T1, Web hosting, managed security, IP and dial-up, broadband wireless, and bundled voice and data services directly through Covad’s network and through Internet Service Providers, value-added resellers, telecommunications carriers and affinity groups to small and medium-sized businesses and home users. Covad broadband services are currently available across the nation in 44 states and 235 Metropolitan Statistical Areas (MSAs) and can be purchased by more than 57 million homes and businesses, which represent over 50 percent of all US homes and businesses. Corporate headquarters is located at 110 Rio Robles San Jose, CA 95134. Telephone: 1-888-GO-COVAD. Web Site: www.covad.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
The foregoing contains “forward-looking statements,” which are based on management’s current information and beliefs as well as on a number of assumptions concerning future events made by management. Examples of forward-looking statements include expectations for Covad’s revenue growth and Covad’s ability to help businesses realize the cost benefits and enhanced features of next generation IP and wireless networks. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside Covad’s control that could cause actual results to differ materially from such statements. These risk factors include operational challenges that may arise as we deploy new services, difficulties as we rapidly expand, deploy and improve our services, the impact of increasing competition, pricing pressures, consolidation in the telecommunications industry, uncertainty in telecommunications regulations and changes in technologies, among other risks. For a more detailed description of the risk factors that could cause such a difference, please see Covad’s Forms 10-K, 10-Q, 8-K and other filings with the Securities and Exchange Commission. Covad disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results of Covad.
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