| Corporate Governance |
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Board of Directors James F. Brear, President and CEO, has served as a member of our Board of Directors since February 11, 2008. He is an industry veteran with more than 18 years of experience in the networking industry, and leads Procera Networks to further the company's position as the leader in managing and monetizing the world's most complex networks. Most recently, Mr. Brear served as vice president of worldwide sales and support for Bivio Networks, a maker of deep packet inspection platform technology. Under his leadership, the company rapidly expanded its worldwide sales presence, resulting in sales to a number of global Tier 1 service providers, government agencies, and Global OEMs. Prior to Bivio, Brear was vice president of worldwide sales for Tasman Networks (acquired by Nortel), a maker of converged WAN solutions for enterprise branch offices and service providers. Earlier in his career, Mr. Brear was the vice president of worldwide sales for Force10 Networks, where he was responsible for taking the company from a pre-revenue start-up to the industry leader in switch routers for high performance Gigabit and 10 Gigabit Ethernet. In addition, he spent five years with Cisco Systems where he held senior management positions in Europe and North America with responsibility for delivering more than $750M in annual revenues selling into the world's largest service providers. Previously, Brear held a variety of sales management positions at both IBM and Sprint Communications. He holds a Bachelor of Arts degree from the University of California at Berkeley. Staffan E.S. Hillberg has served as a member of our Board of Directors since January 24, 2007. Mr. Hillberg is currently the CEO of Scandinavian Financial Management AB, a private equity group based in Sweden. Earlier he held the position of Managing Partner at the MVI Group, one of the largest and oldest business angel networks in Europe with over 175 million Euro invested in 75 companies internationally. While at MVI he oversaw a number of successful exits, among them two IPOs in 2006 on the AIM exchange in London as well as an IPO on the Swiss Stock Exchange. Prior to MVI he ran a local venture capital company as well as co-founded and was the CEO of the computer security company AppGate with operations in Europe and the USA, raising US$20M from ABN Amro, Deutsche Telecom and GE Equity. Before this he was responsible for the online activities of the Bonnier Group, the largest media group in Scandinavia, spearheading their internet activities and heading up their sponsorship of MIT Media Lab. Earlier he was the QuickTime Product Manager at Apple in Cupertino and before this Multimedia Evangelist with Apple Computer Europe in Paris, France. He has extensive experience as an investor and business angel, having been involved in the listing of two companies in Sweden, Mirror Image and Digital Illusions, where the latter was acquire by Electronic Arts. Mr. Hillberg attended the M.Sc. program at Chalmers University of Technology in Sweden and has an MBA from INSEAD in France Mary M. Losty has served as a member of our Board of Directors since March, 2007. Ms. Losty is currently the General Partner at Cornwall Asset Management, LLC, a portfolio management firm located in Baltimore, Maryland, where she is responsible for the firm's investment in numerous companies. Ms. Losty's prior experience includes working as a portfolio manager at Duggan & Associates and as an equity research analyst at M. Kimelman & Company. Prior to that she worked as an investment banker at Morgan Stanley and Co., and for several years prior to that she was the top aide to James R. Schlesinger, a five-time U.S. cabinet secretary. Ms. Losty received both her B.S. and Juris Doctorate degrees from Georgetown University, the latter with magna cum laude distinction. She is a member of the American Bar Association and a commissioner for Cambridge, Maryland's Planning and Zoning Commission. Ms. Losty also sits on the board of directors of the American Board of the United Nations University for Peace, an institution which enjoys the exclusive status of being sanctioned by all 192 member states of the United Nations. Scott McClendon has served as a member of our Board of Directors since March 1, 2004. Mr. McClendon is currently Chairman of the Board of Overland Storage Inc., a position he has held since March 2001. He became Chairman after serving as President and Chief Executive Officer from October 1991 to March 2001. Prior to joining Overland Storage, Mr. McClendon was employed by Hewlett Packard for over 32 years in various positions of engineering, manufacturing, sales, marketing and general management. As a General Manager Mr. McClendon ran the worldwide color printer and drafting plotter businesses of Hewlett Packard. Mr. McClendon serves on the boards of several public and private high technology companies. Mr. McClendon holds B.S. and M.S. degrees in electrical engineering from Stanford University. Mark Pugerude has served as a member of our Board since June 2011. Mr. Pugerude is currently the President of Global Sales and Business Development at GENBAND. Mr. Pugerude is responsible for all mergers, acquisitions, business development and supports financing arrangements at GENBAND. Mr. Pugerude joined GENBAND via the acquisition of NextPoint Networks in May of 2008. He began his employment at NextPoint as the Chief Marketing Officer beginning in August of 2007. From November 2003 to May 2007, Mr. Pugerude was Senior Vice President of Marketing and Business Development of Broadwing until its acquisition by Level 3 Communications. Broadwing Communications was a publicly-traded company on NASDAQ, with nearly $1 billion in revenue that specialized in telecommunication services to large enterprises in the United States. During his service at Broadwing, Mr. Pugerude was responsible for product management, product development, channel sales, marketing, investor relations and public relations. Earlier, Mr. Pugerude held executive or sales management level positions at PingTone Communications and Nokia Networks. Mr. Pugerude began his career in telecommunications at Motorola in the Communications and Electronics division. Mr. Pugerude attended both Washington State University and Syracuse University, studying English and Speech Communications. Tom Saponas has served as a member of our Board of Directors since April 1, 2004 . Mr. Saponas was, until his retirement in 2003, the Senior Vice President and Chief Technology Officer for Agilent Technologies, the $8B spin-off of Hewlett Packard Company in 1999. Mr. Saponas was responsible for establishing Agilent's long-term technology strategy and directly supervised its central research lab. Prior to this, he was Vice President and General Manager of the Electronic Instruments Group at Hewlett Packard where he led eight divisions and 5 operations in the U.S., China, Korea, Germany, France and Canada . In addition, during his time at HP he held various positions in R&D, Marketing and General Management. He was the General Manager of the Colorado Springs Division and also the Lakes Stevens Division. In these roles he was responsible for HP's world-wide R&D, marketing and manufacturing of oscilloscopes, logic analyzers and data acquisition systems and vector signal analyzers, as well as having manufacturing responsibility for HP's thin and thick film microcircuits. In 1986 he took a one-year leave from HP when awarded a White House Fellowship. He served as a Special Assistant to the Secretary of the Navy and was awarded the Superior Civil Servant for a major cost-saving initiative. Mr. Saponas has a B.S. degree in Computer Science and Electrical Engineering and an M.S. degree in Electrical Engineering from the University of Colorado. William E. Slavin has served as a member of our Board of Directors since October 29, 2010. Mr Slavin is a retired executive with over 35 years of global leadership in the technology industry. He is an accomplished IBM executive who helped establish the business consulting and systems integration business at IBM. He held various executive positions in the US, Asia and Europe, and served on IBM's Corporate Senior Leadership Team and the Global Management Board for Business Consulting Services, the organization formed with the acquisition of PriceWaterhouse Coopers Consulting. His last assignment was to lead acquisitions and divestitures for the new Business Consulting Services. Prior to joining IBM, Mr. Slavin was a partner with KPMG, where he was responsible for the western US technology consulting practice. He founded of Slavin Associates, a technology consulting firm, that was merged into Peat Marwick. Prior to Slavin Associates, he was a Principal with A.T. Kearney, and held technical management positions with Control Data Corporation and Lockheed Missiles and Space Co. Mr. Slavin earned his MBA from the University of Santa Clara and BA from Clarement McKenna College with majors in economic theory and mathematics. Paul J. Stich has served as a member of our Board of Directors since January 15, 2010. Mr. Stich is currently the CEO at Dasient, the leading provider of anti-malware solutions for websites and ad networks, and brings over 25 years of technology industry experience and leadership. Over the past ten years, he was the CEO at some of the leading venture capital and private equity backed firms. Mr. Stich was the president and CEO of Counterpane Internet Security, the leading managed security services firm which was acquired by British Telecom. Mr. Stich was also the co-founder, president and CEO of Groundswell, a premier internet consulting firm. Prior to starting Groundswell, he was the vice president of global services at IBM responsible for the telecommunications, media, entertainment, and utility industries for North and South America. Before that he was a partner with KPMG. Our executive officers are elected by the Board of Directors on an annual basis and serve at the discretion of the Board of Directors, subject to the terms of any employment agreements with us, until their successors have been duly elected and qualified or until their earlier resignation or removal. There are no family relationships between any directors and executive officers.
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