MONROE, La.,
June 22, 2017
/PRNewswire/ -- CenturyLink, Inc. (NYSE: CTL)
today is announcing the organizational structure and executive
leaders who will report to Jeff Storey,
recently named president and chief operating officer
(COO) of CenturyLink upon the completion of the Level
3 Communications, Inc. (NYSE: LVLT) acquisition. These
executive leaders will report to Storey effective at the time of
the close of the acquisition, which CenturyLink continues to
anticipate will occur by the end of third quarter 2017.
The COO organizational structure will include five
business units and several functional support groups. The business
units and their leaders will be:
- Strategic enterprise, federal government and state
government – Edward
Morche, who will rejoin Level 3 on July 5, will be president – strategic enterprise,
federal government and state government, and will have
responsibility for large accounts, federal and state government,
and large educational institutions and research
networks.
- Global accounts management (GAM) and
international – Laurinda Pang
will be president – GAM and international, and will have
responsibility for the company's top global accounts and
international teams.
- Small and midsize business (SMB), local government and
education – Vernon Irvin
will be president – SMB, and will be responsible for small
and midsize business (customers with 1-500 employees) as well as
the local education and government teams.
- Wholesale and indirect
– Lisa Miller will be president –
wholesale, indirect and alliances.
- Consumer – Maxine
Moreau will be president – consumer, and will be
responsible for the company's local market consumer business in 37
states.
Supporting these business units and ongoing integration
activities will be the following functional support
groups:
- Technology, product development and security
operations - Aamir
Hussain, executive vice president – product
development, platforms and infrastructure, will be responsible for
IT, testing and integration, architecture, infrastructure,
security, as well as overall business enablement.
- Transformation and integration
– Clay Bailey, senior vice
president – transformation and integration, will lead the
integration of CenturyLink and Level 3.
- North America
operations - Richard
Batelaan, executive vice president – North America operations, will be responsible
for North America service
delivery, service assurance, access management, and field
operations.
- Marketing – Storey plans to name an
executive vice president – chief marketing officer at a later
date.
"I appreciate Jeff's diligent work on designing and
staffing his organization structure. I believe these decisions will
position us well to compete in the marketplace and provide
outstanding service to our customers," said CenturyLink CEO and
President Glen F. Post, III. "I am
confident in the future of the combined company and look forward to
bringing together the talented teams from CenturyLink and Level
3."
"Our people have made these two great companies what they
are today. I'm confident this leadership team will position the
combined company for future success in delivering leading
communications solutions, a world-class customer experience and
profitable growth," Storey said.
About CenturyLink
CenturyLink
(NYSE: CTL) is a global communications and IT services
company focused on connecting its customers to the power of the
digital world. CenturyLink offers network and data systems
management, big data analytics, managed security services, hosting,
cloud, and IT consulting services. The company provides broadband,
voice, video, advanced data and managed network services over a
robust 265,000-route-mile U.S. fiber network and a
360,000-route-mile international transport network. Visit
CenturyLink for more information.
Forward Looking Statements
Except
for the historical and factual information contained herein, the
matters set forth in this communication, including statements
regarding the expected timing and benefits of the proposed
transaction, such as efficiencies, cost savings, enhanced revenues,
growth potential, market profile and financial strength, and the
competitive ability and position of the combined company, and other
statements identified by words such as "will," "estimates,"
"anticipates," "believes," "expects," "projects," "plans,"
"intends," "may," "should," "could," "seeks" and similar
expressions, are forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are
subject to a number of risks, uncertainties and assumptions, many
of which are beyond our control. These forward-looking
statements, and the assumptions upon which they are based, (i) are
not guarantees of future results, (ii) are inherently speculative
and (iii) are subject to a number of risks and uncertainties.
Actual events and results may differ materially from those
anticipated, estimated, projected or implied in those statements if
one or more of these risks or uncertainties materialize, or if
underlying assumptions prove incorrect. Factors that could affect
actual results include but are not limited to: the ability of
the parties to timely and successfully receive the required
approvals for the combination from regulatory agencies free of
conditions materially adverse to the parties; the possibility that
the anticipated benefits from the proposed transaction cannot be
fully realized or may take longer to realize than expected; the
possibility that costs, difficulties or disruptions related to the
integration of Level 3's operations with those of CenturyLink
will be greater than expected; the ability of the combined company
to retain and hire key personnel, including reaching or maintaining
mutually acceptable employment arrangements with the executives
named above; the effects of competition from a wide variety of
competitive providers, including lower demand for CenturyLink's
legacy offerings; the effects of new, emerging or competing
technologies, including those that could make the combined
company's products less desirable or obsolete; the effects of
ongoing changes in the regulation of the communications industry,
including the outcome of regulatory or judicial proceedings
relating to intercarrier compensation, interconnection obligations,
access charges, universal service, broadband deployment, data
protection and net neutrality; adverse changes in CenturyLink's or
the combined company's access to credit markets on favorable terms,
whether caused by changes in its financial position, lower debt
credit ratings, unstable markets or otherwise; the combined
company's ability to effectively adjust to changes in the
communications industry, and changes in the composition of its
markets and product mix; possible changes in the demand for, or
pricing of, the combined company's products and services, including
the combined company's ability to effectively respond to increased
demand for high-speed broadband service; changes in the operating
plans, capital allocation plans or corporate strategies of the
combined company, whether based on changes in market conditions,
changes in the cash flows or financial position of the combined
company, or otherwise; the combined company's ability to
successfully maintain the quality and profitability of its existing
product and service offerings and to introduce new offerings on a
timely and cost-effective basis; the adverse impact on the combined
company's business and network from possible equipment failures,
service outages, security breaches or similar events impacting its
network; the combined company's ability to maintain favorable
relations with key business partners, suppliers, vendors, landlords
and financial institutions; the ability of the combined company to
utilize net operating losses in amounts projected; changes in the
future cash requirements of the combined company; and other risk
factors and cautionary statements as detailed from time to time in
each of CenturyLink's and Level 3's reports filed with the U.S.
Securities and Exchange Commission (the "SEC"). Due to these risks
and uncertainties, there can be no assurance that the proposed
combination or any other transaction described above will in fact
be completed in the manner described or at all. You should be
aware that new factors may emerge from time to time and it is not
possible for us to identify all such factors nor can we predict the
impact of each such factor on the proposed combination or the
combined company. You should not place undue reliance on
these forward‑looking statements, which speak only as of the date
of this communication. Unless legally required, CenturyLink
and Level 3 undertake no obligation and each expressly
disclaim any such obligation, to update publicly any
forward-looking statements, whether as a result of new information,
future events, changed events or otherwise.
Additional Information
In
connection with the proposed combination, CenturyLink filed a
registration statement on Form S-4 with the SEC (Registration
Statement No. 333-215121) which was declared effective by the SEC
on February 13, 2017.
CenturyLink and Level 3 have filed a joint proxy
statement/prospectus and will file other relevant documents
concerning the proposed transaction with the SEC. CenturyLink and
Level 3 began mailing the definitive joint proxy
statement/prospectus to their respective security holders on or
about February 13, 2017. The
definitive joint proxy statement/prospectus, dated as of
February 13, 2017, contains important
information about CenturyLink, Level 3, the proposed combination
and related matters. INVESTORS AND SECURITY HOLDERS ARE URGED
TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS AND ANY
OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE
PROPOSED COMBINATION OR INCORPORATED BY REFERENCE IN THE DEFINITIVE
JOINT PROXY STATEMENT/PROSPECTUS CAREFULLY BECAUSE THEY CONTAIN
IMPORTANT INFORMATION. Investors and security holders may obtain
the definitive joint proxy statement/prospectus and the filings
that are incorporated by reference in the definitive joint proxy
statement/prospectus, as well as other filings containing
information about CenturyLink and Level 3, free of charge, at the
website maintained by the SEC at www.sec.gov. Investors and
security holders may also obtain these documents free of charge by
directing a request to CenturyLink, 100 CenturyLink Drive,
Monroe, Louisiana 71203,
Attention: Corporate Secretary, or to Level 3, 1025 Eldorado
Boulevard, Broomfield, Colorado
80021, Attention: Investor Relations.
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SOURCE CenturyLink, Inc.