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DWDM

Vinod Khosla Quietly Leaves Corvis

Vinod Khosla, a partner at the venture capital firm Kleiner Perkins Caufield & Byers, has quietly stepped down from Corvis Corp.’s (Nasdaq: CORV) board of directors, a position he held since the company’s early days in 1998.

Corvis announced on January 24, 2001, that David S. Oros, CEO of Aether Systems Inc. (Nasdaq: AETH), a wireless products and services provider, would be replacing him.

In an email response to Light Reading, Khosla says that distance was the main reason he left the board. He says that he hadn't been on the board of an east coast company in more than 10 years and had been looking to get off the Corvis board for some time.

"I had always intended to get off the board," he writes. "I originally signed up for one year IF half the meetings were held on the west coast. I did try and get off the board prior to the IPO but was advised against it. Since the company now has a good board and all the meetings are on the east coast, I thought it was an opportune time."

Corvis has tried to spin Khosla's departure as matter-of-factly as possible. “He comes from a VC perspective,” says a spokesperson. “And it’s typical for someone like him to be on the board in the early stages and then leave later on, once the company has gotten to the next stage of development.”

Khosla is still on the boards of four other public companies, all of which have been public longer than Corvis: Corio Inc. (Nasdaq: CRIO), Juniper Networks Inc. (Nasdaq: JNPR), Redback Networks Inc. (Nasdaq: RBAK), and Qwest Communications International Corp. (NYSE:Q).

But this situation is expected to change, according to Khosla: "This is one of six boards I am getting off in the early part of this year. So don't read any 'signs' into it."

Corvis’s five other board members still remain, including Frank Bonsal, founding partner of New Enterprise Associates; Frank Drendel, CEO of CommScope Inc. (NYSE: CTV); Joseph Hardiman, former President and CEO of the National Association of Securities Dealers Inc. (NASD) and its subsidiary Nasdaq; Ossama Hassanein, managing partner of Newbury Ventures; and David Huber, president and CEO of Corvis.

Khosla's depature was announced two days before Corvis reported earnings (see Customer Questions Dog Corvis). Corvis was trading at $23.50 on January 25, 2001 and is down to about $19 a share today (Friday) in mid-afternoon trading.

-- Marguerite Reardon, senior editor, Light Reading, http://www.lightreading.com

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montana 12/4/2012 | 8:55:19 PM
re: Vinod Khosla Quietly Leaves Corvis A little slow on the uptake aren't we--that was weeks ago. Is LR still trying to tweek Corvis?

On this point though, I think it is a good question. It is hard to understand how it is in Corvis' interest to have one of the most influential players in the optical space leave its board unless there are percieved conflicts with RBAK and ONIS and other KP deals
Marguerite Reardon 12/4/2012 | 8:55:19 PM
re: Vinod Khosla Quietly Leaves Corvis Khosla is gone, but does anyone care? Has his departure had any effect on the company?
montana 12/4/2012 | 8:55:18 PM
re: Vinod Khosla Quietly Leaves Corvis A little slow on the uptake aren't we--that was weeks ago. Is LR still trying to tweek Corvis?

On this point though, I think it is a good question. It is hard to understand how it is in Corvis' interest to have one of the most influential players in the optical space leave its board unless there are percieved conflicts with RBAK and ONIS and other KP deals
Steve Saunders 12/4/2012 | 8:55:17 PM
re: Vinod Khosla Quietly Leaves Corvis yes, we were definitely slow on the uptake. Actually, we just plain missed it. (Shocking, eh?) We still thought this was worth a mention, though.

lightreading 12/4/2012 | 8:55:16 PM
re: Vinod Khosla Quietly Leaves Corvis You should read your own message boards more often.
___________________________________________
Author: lightreading Number: 15
Subject: ...and looses a board member Date: 1/24/2001 7:33:18 PM

the 'optical kingmaker' himself, Vinod Khosla, to be exact. replaced by David Oros from Aether.

___________________________________________

I'll ask again, did you miss this too?
___________________________________________

Author: lightreading Number: 14
Subject: this seems news-worthy Date: 1/18/2001 2:00:54 PM

LR: did you guys miss this?

( BW)(CA-METROMEDIA/CISCO)(MFNX)(CSCO) Metromedia Fiber Network Expands Relationship With Cisco Systems to Include Managed Optical Networks

Business Editors & High-Tech Writers

NEW YORK--(BUSINESS WIRE)--Jan. 17, 2001--

Author: lightreading Number: 15
Subject: Re: this seems news-worthy Date: 1/18/2001 2:11:06 PM

MFN's WaveChannel Optical Network Offering to Incorporate DWDM Equipment from Cisco Systems

http://www.mmfn.com/index_pres...

especially given their recent forays (flounders) into optical (beyond Cerent).

photonic314 12/4/2012 | 8:55:15 PM
re: Vinod Khosla Quietly Leaves Corvis Listen whether LR missed vinod leaving or not, doesn't diminish the value of his departure. Back two weeks ago many of the message boards were taken the news as negative...conflict of interest maybe, but if corvis technology is so disruptive, then why didn't step down from those boards...could it be Huber is a pain in the &*^!

Vinod is no saint either, but, ya gotta wonder!
optical_guy 12/4/2012 | 8:55:15 PM
re: Vinod Khosla Quietly Leaves Corvis I know that LR folks think that they are just doing their job and that they do not display any particular bias....however, from where I sit the bias is clear...sort of reminds me of the editorial page of the NY Times. They also think that they are totally objective.

Let's look at this.. title says he quietly left, implying that he sort of slipped out in the night. Bob Irsay and the Colts, Model and the Browns....how is a wire service released public press announcemen (that every half-wit discussion board poster read and commented on) a quiet departure.

Also, there is the timing. So, let's say that LR missed it....if it was good news would they have run it 2 weeks late? I think not.

photonic314 12/4/2012 | 8:55:14 PM
re: Vinod Khosla Quietly Leaves Corvis Listen whether LR missed vinod leaving or not, doesn't diminish the value of his departure. Back two weeks ago many of the message boards were taken the news as negative...conflict of interest maybe, but if corvis technology is so disruptive, then why didn't step down from those boards...could it be Huber is a pain in the &*^!

Vinod is no saint either, but, ya gotta wonder!
iprsvp 12/4/2012 | 8:55:11 PM
re: Vinod Khosla Quietly Leaves Corvis I am not going to worry about whether or not departure of Khosla is going to hurt corvis. The ? is why did he quit.

May be,
a) Corvis is really a pain.

b) May be corvis proved to Khosla that they
are really hype and nothing but hype.

c) May be Khosla understands optics better now
than ever before.

I don't think Mr. Khosla is a stupid to quit a BOD of a good company. I remember his words.

" I always invest in good people" -- when he
was asked about his secret of success. may be
he conveyed the same in some other words..
but let's face it. Khosla quit Corvis. Good for
Khosla.



lightheart 12/4/2012 | 8:55:08 PM
re: Vinod Khosla Quietly Leaves Corvis 1.the markets are down
2.media is doing all it can to paint the darkest cartoon
3.message boards cry ""dooms day " loud ..

cant we take what corvis had to say at its face value that""" his departure as matter-of-factly as possible. GǣHe comes from a VC perspective,Gǥ says a spokesperson. GǣAnd itGs typical for someone like him to be on the board in the early stages and then leave later on once the company has gotten to the next stage of development""""

too mucha analysis leads paralysis
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