Proposed Interland Execs Named
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Micron Electronics Inc. (Nasdaq:MUEI), a leading provider of business-class Web hosting, today named the slate of officers it plans to propose to its board of directors to run the combined company after its planned acquisition of Interland is complete.
"With only a couple of weeks to go before we bring these two companies together, I'm very excited to announce the line-up of seasoned professionals that will lead our company going forward," said Joel J. Kocher, chairman and CEO of Micron Electronics. "This executive team, which combines the best of both companies, brings a wealth of hosting, telecom and high-tech industry experience."
Shareholders of both companies will vote on approval of the transaction on August 6, and the companies expect the transaction to close shortly thereafter. The new company will adopt the Interland name and be headquartered in Atlanta.
"We believe this team has the experience and talent to drive the new Interland to leadership in the Web hosting industry, and that we have a very good shot at being the first public company in our space to reach cash-flow profitability," said Kocher. The company has previously projected it will become EBITDA positive within 12 months after the acquisition closes and free cash flow positive by three quarters following that.
In addition to Kocher, who will continue in the role of chairman and CEO, the senior management team will include:
- Ken Gavranovic, vice chairman and chief technology officer;
- David Buckel, senior vice president and chief financial officer;
- Mark Alexander, senior vice president of sales and marketing;
- Sid Ferrales, senior vice president and chief human resources officer;
- Garrett Mullins, vice president of sales;
- Tim Allaway, vice president of customer service and technical support;
- Cliff Luckey, vice president of engineering and data center operations;
- Nick Farsi, senior vice president and chief information officer;
- Barbara Gibson, vice president of public relations; and
- Steve Arnold, vice president and general counsel.
The new company will focus on the SME market, hoping to avoid the pitfalls of the enterprise-focused players, Kocher said. "Our model is built on the efficiency and scalability of the shared hosting and standardized managed services market – which generates higher revenues and profit margins – and requires far less data center space. With very low debt, and three times the amount of cash we need to reach profitability, we're positioned to win."