Lee Gopadze Becomes Proxim President and CEO
January 25 2011 - 7:30AM
Marketwired
Proxim Wireless Corporation (PINKSHEETS: PRXM), a leading provider
of complete indoor and outdoor wireless broadband systems, today
announced that Lee Gopadze has been appointed as Proxim's President
and Chief Executive Officer.
Mr. Gopadze is a twenty-five year wireless communications
industry executive having held senior management roles at both
large and small wireless communications companies. Mr. Gopadze most
recently was Senior Vice President and General Manager for the
Wholesale Business Division of Covad Communications. Mr. Gopadze
oversaw all sales, marketing, product management, and operations
for that division. Mr. Gopadze also held similar positions with
Covad's Branded Business and Wireless Divisions during his 6-year
tenure there.
Mr. Gopadze began his career in wireless communications in 1981.
He has held a variety of senior executive positions in Marketing,
Sales and Operations at the wireless subsidiaries of Metromedia
Telecommunications, Southwestern Bell, and AirTouch Communications.
From 1997 thru early 2000, Lee held the positions of Corporate Vice
President - Marketing & Sales, Senior Vice President - Network
Operations, and Senior Vice President - Corporate Planning &
Development at Metricom Inc.
During his early tenure at Metricom, Mr. Gopadze was responsible
for directing the company's marketing and sales strategies to
transition from a consumer ISP model to a wireless broadband
business to business ISP Internet access model. In 1999, as a
result of his extensive wireless operations background, Lee was
given operational control for all site acquisition and network
deployment activities for the initial 20 markets for the Ricochet
high-speed network across the United States.
In 2000, Mr. Gopadze left Metricom to co-found SkyRiver
Communications Inc., a license-exempt broadband wireless carrier
and served as its President and Chief Executive Officer.
Mr. Gopadze holds a B.A. from the University of California at
Los Angeles and an M.A. from the University of Southern
California
"With an extensive background in leading wireless communications
carriers and service providers, I look forward to utilizing that
knowledge and experience to lead Proxim to deliver high quality,
innovative, and value-driven wireless communications infrastructure
products and services," said Mr. Gopadze. "The team at Proxim is
strong and creates a solid foundation upon which to build our
business."
"Lee Gopadze is an experienced wireless and telecom professional
evidenced by years of success with major telecom and wireless
service providers," said Alan Howe, Chairman of Proxim's Board of
Directors. "At his core, Lee is a veteran operator with a proven
strong ability to grow the top line while systematically
maintaining an efficient cost structure. Lee had tremendous success
at Covad doing just that. We are fortunate to add Lee to head the
Proxim team and look forward to his leadership."
Replacement Credit Facility
Proxim also announced that it has replaced its secured line of
credit from Bridge Bank, N.A. with a secured credit facility of up
to $5.0 million from a large stockholder. This new credit facility
provides Proxim with greater borrowing flexibility. In connection
with this new facility, the maturity of the subordinated debt
incurred by Proxim in July 2008 was extended from July 2011 to July
2012.
About Proxim Wireless Proxim Wireless
Corporation (PINKSHEETS: PRXM) provides Wi-FiĀ®, WiMAX,
Point-to-Multipoint and Point-to-Point Backhaul technologies for a
complete indoor and outdoor wireless broadband ecosystem. Our
systems enable service providers, governments and enterprises to
deploy fixed and mobile security and video surveillance, indoor and
outdoor Wi-Fi, business and residential internet access and cell
tower backhaul. Proxim has shipped more than 2 million wireless
devices to more than 250,000 customers in over 65 countries
worldwide. Proxim is ISO 9001-2008 certified. For more information,
visit www.proxim.com. For investor relations information, e-mail
ir@proxim.com or call +1 413-584-1425.
Safe Harbor Statement Statements in this
press release that are not statements of historical facts are
forward-looking statements that involve risks, uncertainties, and
assumptions. Our actual results may differ materially from the
results anticipated in these forward-looking statements. The
forward-looking statements involve risks and uncertainties that
could contribute to such differences including reactions by
employees, customers, suppliers, investors, and others to Mr.
Gopadze and the new credit facility described in this release; our
ability to finance and sustain operations; the higher interest
rates and warrants issued in connection with the new credit
facility; our ability to comply with the terms of the new credit
facility; and difficulties or delays in supplying products with the
features, performance, compliances, certifications, cost, price,
quality, and other characteristics desired by customers. Further
information on these and other factors that could affect Proxim's
actual results is contained in the filings made by Proxim with the
OTC Markets (available at www.otcmarkets.com), including without
limitation in the Annual Report filed by Proxim on March 30, 2010,
and is and will be contained in its other public statements, which
may be available on Proxim's website (www.proxim.com).
Contact Information: David Renauld Vice President,
Corporate Affairs Email: Email Contact Phone: 413-584-1425
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