VeriSign board elects company founder as chairman
Network infrastructure firm VeriSign has elected founder James Bidzos as chairman, following the resignation of Edward Mueller.
This is Bidzos’ second time in control of the VeriSign board. In 1995 he launched the company to develop digital certificate infrastructure for online businesses and served as the firm’s first president and CEO. He then worked as chairman for the California-based company until 2001 when he became vice chairman.
Mueller, who joined the VeriSign board in 2005, resigned after his appointment as chairman and CEO of the US firm Qwest Communications International, which provides voice, video and data services. He was appointed as the VeriSign chairman in May.
Bidzos said that he will be “an active chairman” and that the company will be looking to launch new products and enter different markets under his guidance.
Analysts believe the firm could look to provide infrastructure to new markets including mobile messaging and identity services.
In February, VeriSign announced that it will spend more than $100 million (£50 million) improving its global internet infrastructure to tackle the growing number of hacking attacks and manage the increase in online activity.
Named "Project Titan", the initiative aims to expand the firm’s infrastructure tenfold by 2010, in order to cope with the surge in online traffic. By increasing the capabilities of its infrastructure the California-based corporation also hopes to protect users and combat increasingly sophisticated cyber attacks.
The company made $1.6 billion (£803 million) last year.
VeriSign did not return requests for comment.