Paul Sagan named Ernst & Young Entrepreneur Of The Year® 2009 Winner in the Technology category
Palm Springs, 15 November 2009 – Paul Sagan, president and CEO of Akamai Technologies, Inc., (NASDAQ: AKAM) was named the Ernst & Young Entrepreneur Of The Year® 2009 national winner in the Technology category. Now in its 23rd year, the awards recognize leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build world-class businesses.
Sagan was honored for leading Akamai Technologies through challenging times to become the leading provider of managed services for powering video, dynamic transactions and enterprise applications online. Sagan was honored at the Entrepreneur Of The Year® gala in Palm Springs – the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies. Awards were given in nine additional categories. All Ernst & Young Entrepreneur Of The Year® winners were selected by an independent panel of judges from approximately 400 regional award recipients.
Akamai Technologies, Inc. offers the most widely used platform for content delivery and application acceleration, with more than 42,000 servers in 70 countries within 1,000 networks. Based in Cambridge, Massachusetts, the company had 2008 revenues of $790 million, up a healthy 24% over the previous year.
Old media leads to new media
The son of a newspaper publisher in suburban Chicago, Paul Sagan grew up working in the family business as a cub reporter, photographer, even switchboard operator. So it was no surprise he started his career as a journalist, eventually becoming the youngest news director in CBS history, at WCBS in New York.
But as media evolved so did Sagan’s interests. He moved on to Time Warner, where he was a senior member of the team developing the company’s online, cable online, electronic publishing and internet publishing activities. He founded Time Warner’s Road Runner broadband cable modem service and later became president and editor of new media at Time Inc. In 1998, he was recruited to join Akamai Technologies, a start-up dedicated to intelligent internet content delivery. Sagan was named president in 1999.
Stock drop just one of many challenges
Sagan’s leadership qualities were called into action when Akamai Technologies faced serious challenges in 2001. When the tech bubble burst, Akamai Technologies’ stock price plummeted, dropping from a high of $345 to 56 cents per share by October 2002. Even more daunting for the company was the death of Danny Lewin, an Akamai Technologies co-founder and its chief technology officer. He was aboard one of the planes that struck the World Trade Center on 11 September 2001.
Sagan and the company overcame the challenges. Ironically, as a result of the attack, the internet became a primary means of communication for individuals through email to friends and family, and for those seeking news through websites. Companies turned to Akamai Technologies for its assistance in handling increased loads on their websites. Named CEO in 2005, Sagan has continued to fuel Akamai Technologies’ growth through his vision and leadership.
Committed to giving back to the community, Sagan has been an advocate for public education reform as well as helping improve the state of journalism through advisory work at Northwestern and Harvard Universities.
Entrepreneur Of The Year® 2009 national finalists in Technology category
In addition to Sagan, the Ernst & Young Entrepreneur Of The Year® national finalists in the Technology category are: Michael L. Chasen, president and CEO of Washington D.C.-based Blackboard (NASDAQ: BBBB), a global leader in enterprise technology and solutions that improve the experience of millions of students; Girish Navani, CEO and co-founder of Westborough, Massachusetts-based eClinicalWorks, a privately held leader in the ambulatory clinical systems market; and Sheldon Razin, founder and chairman of Quality Systems, Inc. (NASDAQ: QSII) of Irvine, California., a company that develops and provides computer-based practice management, medical records, and e-business applications for medical and dental group practices.
Overall Entrepreneur Of The Year® 2009 National Winner
Tom Adams, president and CEO of Rosetta Stone Inc. (NYSE: RST), was named the Overall Ernst & Young Entrepreneur Of The Year® 2009 national winner.
Video and Photos
To view video clips of all the Entrepreneur Of The Year® winners, please visit the Ernst & Young YouTube Channel at http://www.youtube.com/user/ErnstandYoungGlobal. Photos of the winners are also available by request.
Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year® awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors.
About Ernst & Young’s Entrepreneur Of The Year®
Ernst & Young’s Entrepreneur Of The Year® is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year® celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
About Ernst & Young's Strategic Growth Markets Practice
Ernst & Young's Strategic Growth Markets (SGM) practice guides leading high-growth companies. Our multi-disciplinary team of elite professionals provides perspective and advice to help our clients accelerate market leadership. SGM delivers assurance, tax, transactions and advisory services to thousands of companies spanning all industries. Ernst & Young is the undisputed leader in taking companies public, advising key government agencies on the issues impacting high-growth companies, and convening the experts who shape the business climate. For more information, please visit us at www.ey.com/us/strategicgrowthmarkets.
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