SOURCE: Procera Networks

November 07, 2007 09:30 ET

Procera Networks Announces the Appointment of Tom Williams as Interim CEO After the Retirement of Doug Glader

LOS GATOS, CA--(Marketwire - November 7, 2007) - Procera Networks, Inc. announced today that Mr. Douglas Glader, its chief executive officer and chairman of the board of directors has retired. Mr. Glader has been considering retirement for some time, as the demanding nature of the CEO role has not permitted him to spend sufficient time with his family.

Additionally, the company announced that Thomas H. Williams, its current chief financial officer, has assumed the role of the CEO on an interim basis, and that the board has initiated a search for a permanent CEO.

Mr. Scott McClendon, representing the board of directors said, "Doug Glader was the founder of Procera and has been its CEO since inception. Doug was the architect of Procera's strategy to become a leader in bandwidth management and control and orchestrated a merger with Netintact AB of Sweden in August 2006. At the time of the merger, and to this day, PacketLogic is recognized as the industry leader in solutions for the emerging market of bandwidth management and control. The entire board thanks Doug for his contributions and wishes him success in his future endeavors."

Mr. McClendon continued, "I know that I speak for the board in expressing our strong support for Tom Williams as the Company's interim CEO. Tom joined the board of directors in 2003 and became the Company CFO in March 2006. Mr. Williams has repeatedly shown strong leadership and a broad knowledge of both financial and operational challenges faced by emerging technology companies."

Mr. Williams said, "I believe the opportunities for the Company in the coming quarters are compelling and that the Company has the product family and roadmap to become a major factor in its market. I look forward to the challenge. My objective is to create exceptional shareholder value."

About Procera Networks, Inc.

Founded in 2002, Procera Networks, Inc. (AMEX: PKT) is a global provider of intelligent network traffic identification, control and service management infrastructure equipment. Procera's core product suite, the PacketLogic™ line of appliances, provides the most accurate application identification available today by using the industry leading connection identification engine DRDL™ (Datastream Recognition Definition Language). PacketLogic is deployed at more than 400 broadband service providers (xSPs), Telcos, colleges and universities worldwide. For more information, visit http://www.proceranetworks.com

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in this press release, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of Procera to commercialize the applicable technology and introduce products and the acceptance of those products by the market, the ability of resellers to sell the Procera products, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's reports and filings with the SEC (Securities and Exchange Commission) from time to time.

Procera Networks is a registered trademark, and PacketLogic and DRDL are trademarks of Procera Networks, Inc. All rights reserved. All other products or brands mentioned are trademarks and/or service marks of their respective owners.

Contact Information

  • Contact Procera:

    John Liviakis (Investor Relations)
    Liviakis Financial Communications Inc.
    415.389.4670