Panasas Adds Four New Executives

Panasas Inc. has appointed four new executives to
its senior management team. This will enable the company to build upon
its leadership position in the parallel storage market and support
Panasas as it prepares for accelerated growth.

The company has
strengthened its management team with the addition of the following
executives: Senior Vice President, Technical Operations, Bill Wagstaff;
Vice President, North American Sales, Steve McDermott; Chief Financial
Officer, Stephanie Vinella; and Vice President, Human Resources, Denise
Herrick.

Senior Vice President, Technical Operations, Bill Wagstaff
brings more than 28 years of experience as a successful senior
executive driving product development, customer support, and business
strategy to his role at Panasas. He will lead Panasas’ Quality, Global
Services and Engineering organizations. Prior to joining Panasas,
Wagstaff served Nextance Corporation as its COO helping drive growth
and a successful merger with Trilogy. Before his tenure at Nextance,
Wagstaff held senior engineering leadership positions at Alphablox, an
innovative business intelligence software company acquired by IBM, Red
Brick Systems and NCR/Teradata contributing to each organization’s
record growth.

The new Vice President, North America Sales, Steve
McDermott, brings an accomplished 20-year background in executive sales
including direct sales, OEM, and channels management. McDermott has had
considerable success in driving large and complex sales, developing
channel strategy and managing critical partner relationships. Before
joining the Panasas executive team McDermott held senior sales
management positions at Network Appliance, Topio, Invio, Marimba,
Legato Systems and Comdisco.

With more than 25 years experience in financial management
and operations, Panasas’ new Chief Financial Officer, Stephanie Vinella
has achieved impressive successes driving rapid growth and implementing
solid financial infrastructures in emerging companies. Prior to
Panasas, she held CFO positions at Nextance, Inc., Alphablox and Edify
where she led the company during its IPO process.

Denise Herrick, recently promoted to Vice President, Human
Resources, has more than 15 years of experience in human resources
management, training and organizational development in both publicly
and privately held companies. Herrick’s expertise includes an emphasis
on driving large scale organizational change. Prior to joining Panasas
in 2000, Herrick held positions in human resources management at LSI
Logic, Symbios and AT&T Global Information Solution.

Panasas,
Inc.