SOURCE: VeriSign, Inc.

VeriSign, Inc.

August 06, 2009 17:15 ET

VeriSign Board of Directors Names Mark McLaughlin as Chief Executive Officer and Brian Robins as Chief Financial Officer; Jim Bidzos Named Permanent Executive Chairman

MOUNTAIN VIEW, CA--(Marketwire - August 6, 2009) - VeriSign, Inc. (NASDAQ: VRSN) today announced that its Board of Directors has appointed Mark McLaughlin as chief executive officer effective August 17, and Brian Robins as executive vice president and chief financial officer effective immediately. Company founder Jim Bidzos will continue to serve as executive chairman on a permanent basis as of August 17. Additionally, McLaughlin will join the Board of Directors today.

McLaughlin, 43, has served as president and chief operating officer of VeriSign since January 2009. Prior to this, he held a number of important roles at VeriSign, including executive vice president and general manager of information services and vice president of corporate business development. McLaughlin will retain his title of president in addition to his new role as CEO and member of the Board of Directors.

Robins, 39, has served as acting chief financial officer since April 2008 and will oversee corporate finance, accounting, financial planning and analysis, treasury and investor relations. Robins had served as senior vice president, finance, at VeriSign since August 2007.

Bidzos, VeriSign's founder, will remain executive chairman.

"Mark is an exceptionally strong leader with a unique knowledge of VeriSign's businesses," said Bidzos. "Both he and Brian, who has demonstrated leadership and financial acumen notably during the significant restructuring of the company, have the experience necessary to lead VeriSign as the most trusted provider of Internet infrastructure services. I look forward to continuing to work with them both."

"I am very pleased to be working with such a remarkable team at VeriSign, especially at such an exciting time," said McLaughlin. "It is truly an honor to lead the company that has established itself as the leading provider of trust on the Internet and to have the opportunity to work toward continuing its great success."

About VeriSign

VeriSign, Inc. (NASDAQ: VRSN) is the trusted provider of Internet infrastructure services for the networked world. Billions of times each day, VeriSign helps companies and consumers all over the world engage in communications and commerce with confidence. Additional news and information about the company is available at www.verisign.com.

VRSNF

Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as increasing competition and pricing pressure from competing services offered at prices below our prices, market acceptance of our existing services and the current global economic downturn, the inability of VeriSign to successfully develop and market new services, the uncertainty of whether new services as provided by VeriSign will achieve market acceptance or result in any revenues, the risk that planned divestitures of certain businesses may be delayed or pending dispositions may not be completed, may generate less proceeds than expected or may incur unanticipated costs or otherwise negatively affect VeriSign's financial condition, results of operations or cash flows, and the uncertainty of whether Project Titan will achieve its stated objectives. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the Company's Annual Report on Form 10-K for the year ended December 31, 2008, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.

Contact Information