SAN JOSE, Calif. -- Veraz Networks, a leading global provider of next-generation communication networks, today announced that it has appointed Al Wood as its chief financial officer, effective immediately. Mr. Wood will report to Doug Sabella, president and chief executive officer of Veraz Networks.

Mr. Wood brings an extensive financial management background in the software industry to Veraz that spans over 20 years and includes both public and private enterprises. Previously, Mr. Wood was the CFO of PalmSource and was responsible for the worldwide finance functions including financial reporting and compliance as a public company. While at PalmSource, Mr. Wood managed PalmSource’s spin out from its parent (Palm) and the IPO process, and helped to formulate the corporate strategy including overseeing strategic business partnerships, license agreements and key customer transactions. Prior to PalmSource, Mr Wood held CFO and VP level positions at various companies including Insignia Solutions, Cohera Corporation, and Indus International.

“By appointing Al Wood as the new CFO, Veraz is signaling to the industry that the company’s growth and leadership in providing next generation IP solutions is accelerating,” said Doug Sabella, president and CEO of Veraz Networks. “Mr. Wood’s years of successful CFO roles at both emerging and public technology companies serves to assure that Veraz stays at the forefront of this market during its ongoing growth.”

Veraz Networks Inc.