Hungarian Telephone and Cable Announces New Management Team
June 09 2005 - 7:00AM
Business Wire
Hungarian Telephone and Cable Corp. (AMEX:HTC) announced today a
new management team to manage Hungarian Telephone's Hungarian
subsidiaries: Hungarotel, PanTel and PanTel Technocom. Torben V.
Holm, Hungarian Telephone's new President and Chief Executive
Officer, will lead a management Executive Committee, which
committee will also include Jan Mulder, the previous CEO of PanTel;
William T. McGann, Hungarian Telephone's Chief Financial Officer;
and Alex Wurtz, Hungarian Telephone's new head of Corporate
Business Development. Mr. Mulder has agreed to help the company
with the PanTel and management integration process but he will
leave the company before the end of this year. Mr. Wurtz comes to
Hungarian Telephone from Nawras, a mobile telephone provider in
Oman which was set up by TDC A/S (NYSE:TLD) and QTel, the incumbent
telecom operator in Qatar. Mr. Wurtz was the Chief Operating
Officer of Nawras. As part of the PanTel integration, Hungarian
Telephone also announced that Hungarian Telephone's and PanTel's
Budapest offices would be combined and that all of the company's
Budapest-based employees will work out of PanTel's Budapest office.
COMMENTS FROM TORBEN V. HOLM Commenting on the management
organizational changes and the integration process, Torben V. Holm,
President and Chief Executive Officer, stated, "I look forward to
working with the appointed management team and all employees of the
combined entities. Together, we will form a great team. I would
like to emphasize that this company will take the customer into
account first when making its decisions. My vision for Hungarian
Telephone is to be the best telecommunications provider in Central
and Eastern Europe. ABOUT HUNGARIAN TELEPHONE AND CABLE CORP.
Hungarian Telephone and Cable Corp. is the leading alternative
telecommunications service provider in the Republic of Hungary with
a presence in other countries in Central and Eastern Europe. Note:
This press release contains forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of 1995.
These and all forward-looking statements are only predictions or
statements of current plans that are constantly under review by the
Company. Such statements are qualified by important factors that
may cause actual results to differ from those contemplated,
including as a result of those factors detailed from time to time
in the company's Securities and Exchange Commission filings. The
foregoing information should be read in conjunction with the
company's filings with the U.S. Securities and Exchange Commission,
including, but not limited to, reports on Forms 10-K and 10-Q. The
company has no obligation to update or revise these forward-looking
statements to reflect the occurrence of future events or
circumstances.
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