WaveSmith Networks this week named several industry veterans to its management ranks as it transforms from early stage start-up to revenue generating company.The new executives at the multiservice edge switch company are:Robert O'Neil, vice president of worldwide sales. O'Neil has more than 18 years of global sales experience in the telecommunications industry at Cascade Communications and Aptis Communications\/Nortel Networks.Michael Regan, vice president of engineering. Regan most recently served as vice president of engineering at Octave Communications, responsible for the development of the company's group voice collaboration products. Prior to Octave he was with Unisphere Networks, Cascade Communications and Cabletron Systems, and a co-founder of Castle Networks along with WaveSmith CEO Tom Burkhardt.Gregg Savage, chief financial officer. Savage is a 20-year industry veteran with financial management experience from Appian Communications, New Oak Communications\/Nortel, and Wellfleet Communications.John Burnham, vice president of marketing. You name it, Burnham's been there. Prior to WaveSmith, the ubiquitous Burnham was vice president of corporate marketing for Unisphere Networks. Before Unisphere, he held senior-level marketing positions at C-Port\/Motorola, New Oak Communications\/Nortel, Digital Equipment and Cabletron.WaveSmith also said that company co-founder and CTO Robert Dalias has left the company. He will serve as an outside consultant to WaveSmith and remains as a member of the company's board.Dalias was just named CTO in November when WaveSmith brought Burkhardt aboard to replace Dalias as CEO. A WaveSmith spokesman says the company will not replace Dalias as CTO.WaveSmith is one of the few telecom start-ups from the late 1990s to have gained momentum. The company recently landed $30 million in additional funding, including $5 million from Ciena, which will sell, service and support WaveSmith's switches.WaveSmith is also reportedly gaining momentum in its carrier trials. Sources say the company is close to receiving a contract from SBC for a multiservice edge build-out valued in the tens of millions of dollars. And WaveSmith is a finalist for a major next-generation frame relay build-out by Verizon.