ATLANTA, Nov. 18, 2014 /PRNewswire/ -- Concurrent
(NASDAQ: CCUR), a global leader in unified content delivery, video
analytics, and real-time Linux® solutions, today
announced that industry leader Derek
Elder is joining Concurrent to assume the role of chief
executive officer, effective November
21, 2014. He will also join the board of
directors. Elder succeeds Concurrent's current CEO,
Dan Mondor, who has served in that
role since April 2008.
Mr. Elder has broad industry experience, most recently serving
as Senior Vice President and General Manager of the DOCSIS &
Multiservice Gateway business units at ARRIS Group, Inc. (NASDAQ:
ARRS). He has also held a number of other leadership
positions at ARRIS in sales, product management and marketing in
his 10 year tenure. Prior to ARRIS, Mr. Elder was a
technology and business leader at Tropic Networks, Cisco Systems
and Narad Networks, Inc.
Steve Nussrallah, Concurrent's
chairman of the board, stated, "We are pleased to welcome Derek to
Concurrent. He brings a wealth of industry experience as well
as tremendous leadership experience to the role and we look forward
to his focus on accelerating growth in our businesses."
Nussrallah went on to say, "We thank Dan
Mondor for his contributions over the past six years,
including the introduction of new multi-screen software solutions,
expanding Concurrent's customer base, and achieving profitability
over the last eleven consecutive quarters."
"I am honored to join Concurrent as CEO," Derek Elder said. "I am looking forward to
helping drive profitable growth, breakthrough innovation, and
solutions that help our customers achieve competitive
advantage."
Mr. Elder received a Bachelor of Science degree from the
University of Maryland University
College and a Master of Business Administration from The
Pennsylvania State University.
About Concurrent
Concurrent (NASDAQ: CCUR) is a global leader in unified content
delivery, video analytics, and real-time Linux solutions. The
company delivers solutions for every screen and every network in
support of commercial video services. Concurrent's unified
content delivery and video analytics solutions support every screen
simultaneously, making it easier for cable MSOs, fixed-line
telecommunications providers, mobile operators, and online media
companies to deliver revenue generating video services to consumers
on any device, over any network. The world's leading multichannel
video service providers have selected Concurrent to deliver the
solutions and services required to support their next-generation
multi-screen video initiatives. Concurrent's Emmy®
award-winning video solutions are based upon a rich heritage of
high-performance real-time technology. Concurrent's real-time Linux
solutions are used to support applications in the defense,
aerospace, automotive and financial industries. Concurrent has
offices in North America,
Europe and Asia. Visit www.ccur.com for further
information and follow us on Twitter:
www.twitter.com/Concurrent_CCUR.
Certain statements made or incorporated by reference in this
release may constitute "forward-looking statements" within the
meaning of the federal securities laws. Statements regarding future
events and developments and the company's future performance,
including, but not limited to, management's expectations, beliefs,
plans, estimates, or projections relating to the future, are
forward-looking statements within the meaning of these laws. All
forward-looking statements are subject to certain risks and
uncertainties that could cause actual events to differ materially
from those projected.
The risks and uncertainties which could affect our financial
condition or results of operations include, without limitation: the
potential consolidation of the markets that we serve, U.S.
government sequestration; European austerity measures; delays or
cancellations of customer orders; non-renewal of maintenance and
support service agreements with customers; changes in product
demand; economic conditions; various inventory risks due to changes
in market conditions; margins of video solutions business to
capture new business; fluctuations and timing of large video
solutions orders; doing business in the
People's Republic of China; uncertainties relating to the
development and ownership of intellectual property; uncertainties
relating to our ability and the ability of other companies to
enforce their intellectual property rights; the pricing and
availability of equipment, materials and inventories; the
concentration of our customers; failure to effectively manage
change; delays in testing and introductions of new products;
the impact of reductions in force on our operations; rapid
technology changes; system errors or failures; reliance on a
limited number of suppliers and failure of components provide by
those suppliers; uncertainties associated with international
business activities, including foreign regulations, trade controls,
taxes, and currency fluctuations; the impact of competition on the
pricing of video solutions products; failure to effectively service
the installed base; the entry of new well-capitalized competitors
into our markets; the success of new video solutions; the success
of our relationships with technology and channel partners; capital
spending patterns by a limited customer base; the current
challenging macroeconomic environment; continuing unevenness of the
global economic recovery; privacy concerns over data collection;
our ability to utilize net operating losses to offset cash taxes in
the event of an ownership change as defined by the Internal Revenue
Service; earthquakes, tsunamis, floods and other natural disasters
in areas in which our customers and suppliers operate; and the
availability of debt or equity financing to support our liquidity
needs.
Other important risk factors are discussed in Concurrent's
Form 10-K filed August 27, 2014 with
the Securities and Exchange Commission ("SEC"), and in subsequent
filings of periodic reports with the SEC. The risk factors
discussed in the Form 10-K and subsequently filed periodic reports
under the heading "Risk Factors" are specifically incorporated by
reference in this press release. Forward-looking statements are
based on current expectations and speak only as of the date of such
statements. Concurrent undertakes no obligation to publicly update
or revise any forward-looking statement, whether as a result of
future events, new information, or otherwise.
Concurrent Computer Corporation and its logo are registered
trademarks of Concurrent. All Concurrent product names are
trademarks or registered trademarks of Concurrent while all other
product names are trademarks or registered trademarks of their
respective owners.
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For more information, contact:
Media Relations:
Concurrent
Kristen Bryant
(678) 258-4221
kristen.bryant@ccur.com
Horn Group
Alex
Shapiro
(415) 905-4011
Concurrentteam@horngroup.com
Investor Relations
Contact:
Concurrent
Sandra
Dover
(678) 258-4112
investor.relations@ccur.com
SOURCE Concurrent