Redback Chief Quits

SAN JOSE, Calif. -- Redback Networks Inc. (Nasdaq:RBAK), a leading provider of next-generation equipment for metro access networks, today announced that President and Chief Executive Officer Vivek Ragavan has resigned to pursue other opportunities.

"Vivek was an important contributor to the company's transition after the merger of Siara and Redback. He oversaw the integration and helped set the product direction for the combined company. We thank him for his contribution over the last year and wish him well in his new endeavors," said Pierre Lamond, Redback's chairman.

The company has begun a search for a new President and Chief Executive Officer. During the interim, Pierre Lamond will act as Chief Executive Officer and an operating committee has been established to manage the day-to-day operations. The committee consists of Richard Bibb, Senior Vice President of World Wide Sales, Pankaj Patel, Senior Vice President of Research and Development, Kevin Q. Smith, Senior Vice President of Operations, and Dennis P. Wolf, Senior Vice President and Chief Financial Officer.

Redback Networks Inc.