Edgio,Inc.( NASDAQ EGIO)( the “ Company ”), the platform of choice for speed, security, and simplicity at the edge, moment blazoned that it has reconstituted its Board of Directors. The now five- member Board includes three recently appointed, largely good directors Ken Traub, Frank Verdecanna and Mio Babic. Ken Traub has also been named as Chairman of theBoard.These additions enrich the Board with different global moxie in commercial governance, cybersecurity, digital media, and strategic growth. contemporaneously, seven being directors, David Peterschmidt, Walter Amaral, Scott Genereux, Patricia Hadden, Doug Bewsher, Reed Rayman, andE-Fei Wang, have abnegated their positions on the Edgio Board. The adoptions weren’t the result of any dissensions with the Company.
Edgio CEO, Bob Lyons, and current Board member, Dianne Ledingham will continue to serve as Board members.
These Board changes follow the Company’s lately completed sale with Lynrock Lake Master Fund LP( “ Lynrock ”) in which Lynrock handed the Company with$ 66 million of new backing and changed its being convertible notes due 2025 for new convertible notes due 2027. As part of the exchange agreement, Edgio agreed to apply certain governance changes, including a reduction in the number of Board members from nine to five, and the appointment of two new independent directors mutually respectable to Edgio and Lynrock. This new Board will work its deep moxie to help the company make on its position as an edge- enabled results provider.
As of December 4, the Edgio Board includes Edgio CEO Bob Lyons, and the following individualities
Ken Traub –Mr. Traub has over 30 times of experience as a CEO, president, director, investor, and adviser in public companies, with a successful track record of driving strategic, fiscal, functional and governance advancements to enhance shareholder value. Since 2019,Mr. Traub has been serving as the Managing Partner of Delta Value counsels, a strategic consulting and investment premonitory establishment, specializing in commercial governance and reversals.Mr. Traub also presently serves on the Boards of Directors of Tidewater,Inc.( NYSE TDW) and American Rare Earths Limited( OTCQB ARRNF).
Frank Verdecanna –Mr. Verdecanna has further than 29 times of experience working for colorful technology companies and a public account establishment. He has been a Chief Financial Officer for further than 14 times with two different public and two different private companies.Mr. Verdecanna held elderly finance positions and was the EVP and Chief Financial Officer of Mandiant,Inc.( formerly FireEye,Inc.), a cyber trouble intelligence company that provides products and services to defend against cybercrime, from November 2012 until its accession by Google,Inc., in September 2022.
Mio Babic – preliminarily the author and CEO of iStreamPlanet, a digital media software- as-a-service company,Mr. Babic is honored as a colonist in digital media who has driven numerous firsts for the assiduity, including the first live streaming perpetration of digital rights operation, the first livemulti-camera webcast, and the first pall- native, API-first live encoder, among numerous others.
Dianne Ledingham – A seasoned technology superintendent leader with further than 30 times of experience helping companies unleash enterprise value as a elderly mate in Bain’s client Strategy and Marketing Technology and Cloud Services( TCS) Practices. Having led some of Bain’s most significant TCS customer connections, she has worked with associations to deliver outsized growth, successful accession and junction integrations, and metamorphoses. Dianne also innovated Bain’s Global Deals and Channel Excellence Practice as part of the client Practice, where she led the group for seven times, helping companies drive growth across diligence.Ms. Ledingham has also served on the Board of Directors of Pegasystems( NASDAQ PEGA) since 2016.
” With the guidance of our new Board of Directors, and enhanced fiscal inflexibility via the deals with Lynrock, Edgio is well- equipped to strengthen its position as a commanding edge- enabled results provider,” said Bob Lyons, Chief Executive Officer at Edgio. “ Our new Board brings deep capabilities gauging software- as-a-service, cybersecurity/ trouble intelligence and public company governance. This assiduity and functional experience brings tremendous value to the Company as we continue to navigate our metamorphosis. I want to unfeignedly thank our departing board members for their benefactions to our trip therefore far.
