CoSine Mourns Death of CEO

CoSine Communications mourns death of its CEO, Steve Goggiano

January 17, 2005

1 Min Read

SAN JOSE, Calif. -- CoSine Communications, Inc. (Nasdaq: COSN - News) today announced that its Chief Executive Officer and President, Steve Goggiano, passed away on Friday, January 14, 2005. "Steve Goggiano brought a personal level of commitment, energy and integrity to everything he did," said Don Green, CoSine's Chairman of the Board. "Our thoughts and prayers are with his family."

CoSine's Board of Directors has appointed CoSine's Chief Financial Officer, Terry Gibson, to assume the additional role of Chief Executive Officer and has appointed him to its board of directors. "Our focus is on the timely completion of the merger with Tut Systems, announced on January 7, 2005, and on the ongoing support of our customers," stated Mr. Gibson.

"We are deeply saddened by the loss of Steve and express our sincere condolences to his family, friends and colleagues," said Sal D'Auria, Chairman, President and CEO of Tut Systems, Inc. (Nasdaq: TUTS - News) "Steve worked tirelessly in his support of Cosine's merger with Tut Systems and it is our intention to continue his good work with Terry and Cosine's Board to bring this merger to a successful completion."

On January 7, 2005, CoSine filed a Form 8-K announcing the signing of a definitive agreement to merge with Tut Systems Inc. in a stock-for-stock transaction whereby Tut Systems, Inc. would issue approximately 6.0 million shares of its common stock to acquire all of the outstanding shares of CoSine's common stock. The transaction, which is subject to approval by the stockholders of both companies and to other normal closing conditions, is expected to close by March 31, 2005.

CoSine Communications Inc.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like