Bookmark and Share

Ditech Networks (DITC) Names Ken Naumann as Vice President Worldwide Sales

Dec. 23, 2010 (Business Wire) — Ditech Networks, Inc. (NASDAQ:DITC), a leader in voice processing systems, announced today that Ken Naumann has been named Vice President of Worldwide Sales. Naumann will lead sales efforts for both VQA™ and PhoneTag products worldwide.

“We are excited to have Ken on board at Ditech. Both his experience in sales management, and his knowledge of complex software based transactions and managed services will be of great benefit to us,” said Todd Simpson, Ditech Networks President and CEO. “We look forward to Ken contributing to all aspects of our sales processes, and to the long term success of the company.”

Naumann has extensive executive and sales leadership experience. He has lead large worldwide field organizations for multiple enterprise software companies such as Guidance Software (NASD: GUID) and BindView Development (NASD: BVEW). As Vice President of WW Sales at Guidance Software, Naumann doubled revenue over a two year period. During his 10 years tenure at BindView, Naumann held a variety of executive management roles including Vice President of the Americas and Vice President of WW Sales as the company grew from a start up into $88M publicly traded company. “I am very pleased to be joining Ditech Networks,” said Naumann. “The company has excellent products, and I look forward to pushing Ditech aggressively in the marketplace.”

In connection with Mr. Naumann’s appointment, Mr. Naumann was granted an option to purchase 140,000 shares of Ditech common stock with an exercise price equal to the fair market value of Ditech’s common stock on the date of grant, and restricted stock units for 20,000 shares of Ditech common stock, both of which vest over four years, as an inducement to join Ditech. At the same time, a new non-officer employee of Ditech was granted an option to purchase 7,000 shares of Ditech common stock with the same terms, as an inducement to join Ditech.

About Ditech Networks

Ditech Networks is revolutionizing modern communications with advanced voice processing solutions that perform tasks spanning from voice-enabled Web 2.0 and unified communications services to voice quality enhancement. Ditech believes in the power and simplicity of human speech; its solutions deliver high-quality voice communication and will enable compelling voice capabilities to new communications methods like social networking and text messaging, allowing consumers to use voice in ways that make sense in today’s Web 2.0-savvy world.

Leveraging over 20 years of deployments with communications providers around the world, Ditech’s products help global communications companies meet the multiple challenges of service differentiation, network expansion and call capacity, by delivering consistent, dependable voice quality. Ditech’s customers include Verizon, Sprint/Nextel, Orascom Telecom, AT&T, Telus, Global Crossing and West Corporation. Ditech Networks is headquartered in Mountain View, California.

Ditech Networks, Inc.

Bill Tamblyn, 650-623-1309 (Investors)

Karl Brown, 650-623-1346 (General)

Thursday, December 23rd, 2010 Uncategorized
Top Small Cap Market News